Reference no: EM132808435
Marcia's Leather Knits makes and sells leather jackets. Given the following budget and actual data, complete the company's comprehensive performance report (assume static budget of $1,200 units and fixed expenses identical to flexible budget).
2020 Budget data
Average sale price per jacket $500
Sales volume 1,500
Supervisor salary $80,000
Number of supervisors 2
Worker hourly rate $20
Materials per jacket $100
Labour hours required per jacket 8
Sales commission per jacket $50
Factory space rental $3,000 per month
Retail space rental $2,500 per month
Janitorial services $1,000 per month
2020 Actual data
Sales revenue $694,200
Sales volume 1,390
Materials per jacket $96.15
Supervisor salaries $152,000
Worker wages $226,223
Sales commissions $70,500
Janitorial services $13,000
Factory space rental $36,000
Retail space rental $30,000
Problem 1: Make some conclusions about the company's performance. Discuss in detail what was done well and what could be improved in 2021.