Question

3,000 thes to record the following: 5,000 4,500 a. Materials used. b. Factory wages and salaries earned Factory Overhead transferred to Work in Process. d. Jobs completed. 2,500 2.000 e. Jobs sold. PROBLEMS P1-1 Performance report Prepare a performance report for the dining room of Barbara's Bistro for the month of February 2016, using the following data: Budgeted Data: Dining room wages ...... Laundry and housekeeping ....... Utilities ......... Depreciation ..... Actual Data: Dining room wages. Laundry and housekeeping .... Utilities ...... Depreciation .......... January February $4,300 $4,150 1,650 1,500 2,200 2,050 1,500 1,500 January February $4,700 $4,400 1,600 1,400 2,350 2,100 1,500 1,500 P1-2. Cost of goods sold-merchandiser and manufacturer The following data were taken from the general ledgers and other

Answer 1

Answer is given below

Comments have been given on performance also to understand the concept better

Expense Dinning room wages Laundry and housekeeping Utilities Depreciation Total Barbara's Bistro Performance Report-Dining Room February 28, 2016 Budgeted Actual Variance Year-to- Year-to- Year-to- February February February Date Date Date $4,150 $8,450 $4,400 $9,100 -$250 -$650 u $1,500 $3,150 $1,400 $3,000 $100 $150 F $2,050 $4,250 $2,100 $4,450 -$50 -$200 u $1,500 $3,000 $1,500 $3,000 $9,200 $18,850 $9,400 $19,550 $200 $700 U YTD is February + January U= Unfavourable F= Favourable If Actual spend is higher than Budget it is unfavourable If Actual spend is lower than Budget it is Favourable