I’m really confused as to how to do these calculations. Can you do the calculations and provide me with explanations on how calculate the solutions?
| Milestone Two, Part I | |||||||||
| Use Tables I through IV on the MDE Manufacturing Budget to complete your calculations. | |||||||||
| Refer to Exhibit 7-2 on page 253 of the text | |||||||||
| Budget Model | From Flexible Budget Calculations Sheet | ||||||||
| Actual | Flexible Budget Variance | Favorable/ Unfavorable | Flexible Budget | Sales Volume Variance | Favorable/ Unfavorable | Static Budget | |||
| Units Sold | 47,000 | 47,000 | 50,000 | ||||||
| Revenues | $991,700 | $4,700 | Favorable | $987,000 | ($63,000) | Unfavorable | $1,050,000 | ||
| Variable Costs | |||||||||
| DM-Plastic | |||||||||
| DM-Cedar | |||||||||
| Direct Manuf. Labor | |||||||||
| Variable Manuf. Overhead | |||||||||
| Total Variable Costs | |||||||||
| Fixed Manuf. Overhead | |||||||||
| Total Costs | |||||||||
| Gross Margin | |||||||||
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