Budgets statements and Ledger accounts
Please explain me how to do this question
See attachment for details.
A) prepare a budget satement for proccesses to show the cost of producing 10 000 units....etc
B) Prepare a flexed budget statement......etc
C) Prepare ledger account....etc
D) Calculate the following variances.....etc
Please see attachment for details and questions
© BrainMass Inc. brainmass.com March 4, 2021, 6:01 pm ad1c9bdddfhttps://brainmass.com/business/financial-statements/budgets-statements-ledger-accounts-23940
Solution Preview
#1 Budgeted production costs:
Process 1 (finished):
Material: $480,000 (10,000 units X 4 KG X $12)
Labor: $450,000 (10,000 units X 3 hours X $15)
Prod. OH: $300,000 (10,000 units X 3 hours X $10)
Process 2 (finished):
Material: $189,000 (9,000 units X 3L X $7)
Labor: $450,000 (9,000 units X 5 hours X $10)
Prod. OH: $720,000 (9,000 units X 5 hours X $16)
Process 2 (Work In Process):
Material: $10,500 (1,000 units X 3L X $7)/2
Labor: $25,000 (1,000 units X 5 hours X $10)/2
Prod. OH: $40,000 (1,000 units X 5 hours X $16)/2
#2 Actual
Process 1 ...
Solution Summary
The expert examines budget statements and ledger accounts. The fixed budget statements are prepared.