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How prepare performance report using the budgeted costs

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Reference no: EM132625393

Performance Production Cost Report (mowen)

The management of COOL U printed t-shirts wants to know the cost of producing 1,000 shirts, 1,200 shirts and 1,400 shirts. The following information were given:

Budget for the quarter:

Levels of output: 1,000, 1,200 and 1,400

Materials:

1 plain shirt @ P3.00

5 ounces of ink @ 0.20 per oz

Labor:

0.12 hr. @ P10

Variable overhead:

Maintenance: 0.12 hr @ P3.75

Power: 0.12 hr @ P1.25

Fixed overhead:

Grounds keeping: P1,200 per quarter

Depreciation: P600 per quarter

The actual data for Quarter 1 are as follows:

Production: 1,200 t-shirts

Material cost: P4,830

Labor costs: P1,500

Maintenance cost: P535

Power cost: P170

Grounds keeping: P 1,050

Depreciation: P600

REQUIREMENTS:

Problem 1. Prepare budget for the three levels of output.

Problem 2. Prepare performance report using the budgeted costs for the actual level of activity.

Reference no: EM132625393

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