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Prepare flexible budget control report for the period

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Reference no: EM132864760

Question - The fixed budget and actual results for J Ltd for the latest period are as follows.

Production and sales Budget 4,000 units ($) Actual 4,640 units ($)

Direct material 72,000 87,360

Direct labour 84,000 101,280

Variable overhead 48,000 52,800

Fixed overhead 67,200 72,000

Total cost 271,200 313,440

Sales revenue 384,000 448,320

Profit 112,800 134,880

Required -

(1) Prepare flexible budget control report for the period, identifying the cost and revenue variances.

(2) Comment on this statement: The budgetary planning process for a manufacturing and trading organisation should always begin with the preparation of the sales budget.

Reference no: EM132864760

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