Question is in bold at the end of my worksheetFor the month of:NovemberBudget...Question is...

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Accounting

Question is in bold at the end of my worksheet
For the month of: November
BudgetData
Fixed Variable Actual
Portion Portion* Data
Depreciation $4,000 -- $4,000
Maintenance $1,800 $0.70 4,730
Inspections $2,800 0.25 3,702
Utilities $4,000 0.20 4,900
Indirect material 0.25 1,125
Overtime 2.25 ** 260
*per directlabor hour
permonthly direct labor hours in excess of 4,000
Planneddirect labor hours for the month 4,500
Actualdirect labor hours for the month 4,100
Static Budget Budget Actual Difference
Depreciation $4,000 $4,000 $0
Maintenance 4,950 4,730 220
Inspections 3,925 3,702 223
Utilities 4,900 4,900 0
Indirectmaterial 1,125 1,125 0
Overtime 1,125 260 865
$20,025 $18,717 $1,308
Flexible Budget Budget Actual Difference
Depreciation $4,000 $4,000 $0
Maintenance 4,670 4,730 (60)
Inspections 3,825 3,702 123
Utilities 4,820 4,900 (80)
Indirectmaterial 1,025 1,125 (100)
Overtime 225** 260 (35)
$18,565 $18,717 ($152)
The following actual overhead costs were incurred inDecember:
Depreciation
$4,000
Maintenance
$5,150
Inspections
$3,790
Utilities
$4,900
Indirect material
$1,350
Overtime
$1,125
1. Planned direct labor hours were 4,000. Actual directlabor hours were 4,500. Other budget data for December wereidentical to November except that fixed maintenance costs haveincreased to $2,000 and variable indirect materials costs haveincreased to $0.30 per direct labor hour.
a. Prepare and print new budget reports for December.Remember to change the month in cell B7. Save your file asFLEXBUD4. Compare the two budget reports and comment on thedifferences disclosed between the static budget and flexible budgetperformance reports.
b. If you were to suggest a revision to the budget forDecember, which cost category seems most in need of revision?Assuming that the fixed cost component of this budgeted cost isalready correct, what should the variable cost component be so thatthe budget equals actual? Try difference values in the appropriatecell in the Data Section and write your answer below

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For the month of December Budget Data Static Flexible Fixed Variable Budget Budget Actual Portion Portion Value Value Data Depreciation 4000 4000 4000 4000 Maintenance 2000 070 4800 5150 5150 Inspections 2800 025 3800 3925 3790 Utilities 4000 02 4800 4900 4900 Indirect material 03 1200 1350 1350 Overtime 225 Nil 1125 1125 per direct labor hour per monthly direct labor hours in excess of 4000 Planned direct labor hours for the month 4000 See Answer

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In: AccountingQuestion is in bold at the end of my worksheetFor the month of:NovemberBudget...Question is in bold at the end of my worksheetFor the month of:NovemberBudgetDataFixedVariableActualPortionPortion*DataDepreciation$4,000 --$4,000Maintenance$1,800$0.704,730Inspections$2,8000.253,702Utilities$4,0000.204,900Indirect material0.251,125Overtime2.25**260*per directlabor hour**permonthly direct labor hours in excess of4,000Planneddirect labor hours for the month4,500Actualdirect labor hours for the month4,100Static BudgetBudgetActualDifferenceDepreciation$4,000$4,000$0Maintenance4,9504,730220Inspections3,9253,702223Utilities4,9004,9000Indirectmaterial1,1251,1250Overtime1,125260865$20,025$18,717$1,308Flexible BudgetBudgetActualDifferenceDepreciation$4,000$4,000$0Maintenance4,6704,730(60)Inspections3,8253,702123Utilities4,8204,900(80)Indirectmaterial1,0251,125(100)Overtime225260(35)$18,565$18,717($152)The following actual overhead costs were incurred inDecember:Depreciation$4,000Maintenance$5,150Inspections$3,790Utilities$4,900Indirect material$1,350Overtime$1,1251. Planned direct labor hours were 4,000. Actual directlabor hours were 4,500. Other budget data for December wereidentical to November except that fixed maintenance costs haveincreased to $2,000 and variable indirect materials costs haveincreased to $0.30 per direct labor hour.a. Prepare and print new budget reports for December.Remember to change the month in cell B7. Save your file asFLEXBUD4. Compare the two budget reports and comment on thedifferences disclosed between the static budget and flexible budgetperformance reports.b. If you were to suggest a revision to the budget forDecember, which cost category seems most in need of revision?Assuming that the fixed cost component of this budgeted cost isalready correct, what should the variable cost component be so thatthe budget equals actual? Try difference values in the appropriatecell in the Data Section and write your answer below

For the month of:	November
	BudgetData
	Fixed	Variable		Actual
	Portion	Portion*		Data
Depreciation	$4,000	--		$4,000
Maintenance	$1,800	$0.70		4,730
Inspections	$2,800	0.25		3,702
Utilities	$4,000	0.20		4,900
Indirect material		0.25		1,125
Overtime		2.25	**	260
	*per directlabor hour
	**permonthly direct labor hours in excess of			4,000
	Planneddirect labor hours for the month			4,500
	Actualdirect labor hours for the month			4,100
Static Budget		Budget	Actual	Difference
Depreciation		$4,000	$4,000	$0
Maintenance		4,950	4,730	220
Inspections		3,925	3,702	223
Utilities		4,900	4,900	0
Indirectmaterial		1,125	1,125	0
Overtime		1,125	260	865
		$20,025	$18,717	$1,308
Flexible Budget		Budget	Actual	Difference
Depreciation		$4,000	$4,000	$0
Maintenance		4,670	4,730	(60)
Inspections		3,825	3,702	123
Utilities		4,820	4,900	(80)
Indirectmaterial		1,025	1,125	(100)
Overtime		225	260	(35)
		$18,565	$18,717	($152)