Please include formulas GD EMRO Department 2020 ResultsABFH.IJKM3 Revenues (billed out):Change in Gross MarginBudget3,456Actual Fav./(Unfav.)3,6484 - Labor (hrs.)5 - Labor rate ($/hr.)6 - Parts (S/hr.)7 Costs:8 - Labor (hrs.)9 - Labor ($/hr.)10 - Parts (% of revenue)19245,868120120345320(25)Labor VarianceParts VarianceRevenue (hrs.)Rate ($/hr.)Costs (hrs.)-3% Labor (S/hr.)Revenue (hrs.)Revenue ($/hr.)Costs (hrs.)3,8403,877374244280%77%Costs ($/hr.)11TotalMark-upS Fav./(Unfav.)12 Revenues:13 - LaborOther437,7601,192,320 1,168,09223,040(24,228)(1,188)414,720Total14 - Parts15Total Revenues 1,607,040 1,605,85216 Costs:17 - Labor- Parts7,370(54,425)161,280168,65018953,856899,43119Total Costs 1,115,136 1,068,080(47,056)20Insert your text explanation of the variances here.21 Gross Margin22 Overhead:491,904537,77245,86823 - Space75,00035,00068,50075,00035,00068,50018,000196,50024 - General & Admin.25 - Depreciation26 - Legal & Regulatory18,00027Total Overhead196,5002829 Net before Taxes30 Taxes295,40462,035341,27245,86871,6679,63231 Net after Taxes233,369269,60536,235

Variance is the comparison which is done by the company to calculate whether the deviations has been…

MRO Department - 2020 Results 3 Revenues (billed out): 4 - Labor (hrs.) 5 - Labor rate ($/hr.) 6 - Parts (S/hr.) 7 Costs: 3 - Labor (hrs.) 9 - Labor ($/hr.) 10 - Parts (% of revenue) Budget 3,456 Actual Fav./(Unfav.) 3,648 Change in Gross Margin 45,868 192 120 120 Labor Variance Revenue (hrs.) Parts Variance Revenue (hrs.) Revenue ($/hr.) Costs (hrs.) Costs ($/hr.) 345 320 (25) 3,840 3,877 Rate (S/hr.) Costs (hrs.) 37 42 44 2 80% 77% -3% Labor ($/hr.) 11 12 Revenues: 13 - Labor 14 - Parts Total Mark-up S Fav./(Unfav.) Other 437,760 414,720 1,192,320 1,168,092 23,040 Total (24,228) 15 16 Costs: 17 - Labor 18 - Parts 19 20 e1 Gross Margin 22 Overhead: 23 - Space 24 - General & Admin. 25 - Depreciation 26 - Legal & Regulatory 27 28 29 Net before Taxes 30 Taxes 31 Net after Taxes Total Revenues 1,607,040 1,605,852 (1,188) 161,280 953,856 168,650 899,431 7,370 (54,425) (47,056) Total Costs 1,115,136 1,068,080 Insert your text explanation of the variances here. 491,904 537,772 45,868 75,000 35,000 68,500 75,000 35,000 68,500 18,000 18,000 196,500 Total Overhead 196,500 295,404 62,035 341,272 71,667 45,868 9,632 233,369 269,605 36,235

MRO Department - 2020 Results 3 Revenues (billed out): 4 - Labor (hrs.) 5 - Labor rate ($/hr.) 6 - Parts (S/hr.) 7 Costs: 3 - Labor (hrs.) 9 - Labor ($/hr.) 10 - Parts (% of revenue) Budget 3,456 Actual Fav./(Unfav.) 3,648 Change in Gross Margin 45,868 192 120 120 Labor Variance Revenue (hrs.) Parts Variance Revenue (hrs.) Revenue ($/hr.) Costs (hrs.) Costs ($/hr.) 345 320 (25) 3,840 3,877 Rate (S/hr.) Costs (hrs.) 37 42 44 2 80% 77% -3% Labor ($/hr.) 11 12 Revenues: 13 - Labor 14 - Parts Total Mark-up S Fav./(Unfav.) Other 437,760 414,720 1,192,320 1,168,092 23,040 Total (24,228) 15 16 Costs: 17 - Labor 18 - Parts 19 20 e1 Gross Margin 22 Overhead: 23 - Space 24 - General & Admin. 25 - Depreciation 26 - Legal & Regulatory 27 28 29 Net before Taxes 30 Taxes 31 Net after Taxes Total Revenues 1,607,040 1,605,852 (1,188) 161,280 953,856 168,650 899,431 7,370 (54,425) (47,056) Total Costs 1,115,136 1,068,080 Insert your text explanation of the variances here. 491,904 537,772 45,868 75,000 35,000 68,500 75,000 35,000 68,500 18,000 18,000 196,500 Total Overhead 196,500 295,404 62,035 341,272 71,667 45,868 9,632 233,369 269,605 36,235

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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