Accounting Assignment - Honey Bear Confections (HBC)

Honey Bear Confections (HBC)
Manufacturing Overhead Static Budget Report
For the Month Ended June 20XX

Budget

Actual

Variance (U or F)

Production in bags of candy

10,000

12,000

2,000F

Costs:

Indirect labor

$26,000

$31,200

$5,200U

Supplies

$25,000

$29,500

$4,500U

Utilities

$19,000

$22,500

$3,500U

TOTAL

$70,000

$83,200

$13,200U

The Assignment:

• Part 1:Prepare a performance report using spreadsheet software, such as Excel.Hint:Read the Weekly Briefing and watch thePerformanceReportvideo on this topic.
• Part 2:For the next section of this Assignment, please utilize a word processing software (such as Word) to complete the following:
  • Write a short memo to your supervisor explaining your findings and your recommendations.
  • In your memo, as part of your recommendations, take a position on the following: Do all the variance in this example need to be examined? Why or why not?