Managerial Accounting

Problem-solving:

  1. Budgets in Managerial Accounting: Valley’s Jam is in the process of preparing a production cost budget for May. Actual costs in April were:

Valley’s Jam

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Production Cost

April 2020

Production 25,000 jars
Ingredient cost (variable) PhP900,000
Labor cost (variable) 540,000
Rent (fixed) 225,000
Depreciation (fixed) 270,000
Other (fixed) 45,000
Total 1,980,000

Required:

a) Using this information, prepare a budget for May. Assume that production will increase to 30,000 jars of jam, reflecting an anticipated sales increase related to a new marketing campaign. Calculate the total actual production cost per unit in April and the total budgeted production cost per unit in May.

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