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Managerial Accounting, Cost Accounting, Budgeting

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1. Use the following information to complete A, B, and C.

Laboe Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During February, the kennel budgeted for 2,900 tenant-days, but its actual level of activity was 2,940 tenant-days. The kennel has provided the following data concerning the formulas to be used in its budgeting:

(see attached chart)

A. The administrative expenses in the planning budget for February would be closest to:

a. $7,814
b. $7,770
c. $7,922
d. $7,782

B. The net operating income in the planning budget for February would be closest to:

a. $7,191
b. $7,391
c. $7,900
d. $8,260

C. The expendables in the flexible budget for February would be closest to:

a. $26,990
b. $27,354
c. $27,021
d. $27,772

#2. Use the following information to solve A, B, and C.

Manago Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During March, the company budgeted for 5,300 units, but its actual level of activity was 5,310 units. The company has provided the following data concerning the formulas to be used in its budgeting:|

(see attached chart.)

A. The selling and administrative expenses in the planning budget for March would be closest to:

a. $25,640
b. $26,199
c. $26,248
d. $25,648

B. The net operating income in the planning budget for March would be closest to:

a. $11,705
b. $21,877
c. $21,710
d. $11,749

C. The direct materials in the flexible budget for March would be closest to:

a. $73,278
b. $73,929
d. $73,140
c. $74,208

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The solution answers questions related to Managerial Accounting, Cost Accounting, Budgeting for Laboe Kennel, Manago Corporation.

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Laboe Kennel

A. The administrative expenses in the planning budget for February = 6900 + 2900*0.30 = $7,770

B. The net operating income in the planning budget for ...

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