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Prepare and evaluate a performance report for the

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Prepare and evaluate a performance report for the

 

1. Prepare and evaluate a performance report for the production manager 2. Prepare and evaluate a pertormance report for the vice president. Other costs for the vice president are assumed to be: budgcted $35,000 and actual $34,400 The University of Boyne offers an extensive continuing education program in many cities throughout the state. For the convenience of its faculty and admiaistrative staff and also to save costs the university operates a motor pool Until February the motor poot operated with 20 vchides However, an additional automobile was acquired in February this year, increasing the total to 21 vehicles The motor pool furnishes gasoline, oil, and other supplies for the cars, and hires one mechanie who does routine maintenance and minor repairs Major repairs are done at a nearby commercial garage Each year a sapervisor prepares an operating budget for the motor pool. The budget informs university managemeat of the funds needed to operate the pool. Depreciation on the automobiles is recorded in the budget in order to determine the costs per mile. for March are compared to one-twelfth of the annual badget The schedule below presents the annual budget approved by the university. The actual costs UNIVERSITY MOTOR POOL Badget Reporr For March 19A Annual One-Month March Variance BudgetBudget al (Uor(E 59,280 4405.74 Gasoline Oil, minor repairs, parts, and supplies Outside repairs Insurance Salaries and benelits 3,600 2,700 6,000 300 225 80 (U) 175 (F) 25 (U) 380 2.500 2310 $122.80 01153 63.000 2.500 ion 26,400 Total miles 600,000 S0.2133 Cost per mile $0.2133 Number of automobiles The annual budget was coostructed upon the following assumptions: (a) 20 automobiles in the pool (b) 30,000 miles per year per automobile (e) 15 miles per gallon per automobile 135 per automobile in outside repairs 21 $0.006 per mile for oil, minor repairs parts and supplics (e) (a) S1.30 per gallon of gas The supervisor is unhappy with the monthly report comparing budget and actual costs for March. He claims it prescnts unfairly his perlormance for March. His previous employer used Bexible budgeting to compare actual costs to budgeted amounts 1. Employing flesible budgeting lechniques prepare a report which shows budgened amounts actual costs and monthly variation for March 2. Explain briefly the basis of your budget figure for outside repairs What is the relationship betwcen responsibility accounting and cost control?

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