Ex 23.03 Excel Budgeting

23.03.PET Bottle Company.doc23-03_24e.xlsx PET Bottle Company (PBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows:   Cost Category  Standard Cost per 100 Two-Liter Bottles   __________________________________   Direct labor     $1.32   Direct materials    5.34   Factory overhead    0.34   Total  $7.00 At the beginning of March, PBC management planned to produce 450,000 bottles. The actual number of bottles produced for March was 500,000 bottles. The actual costs for March of the current year was as follows:   Cost Category                                   Actual Cost for the                                                               Month Ended March 31, 2012   Direct labor                                                       $ 5,900   Direct materials                                                 25,300   Factory overhead                                                1,900                                                                Total    $33,100 a.) Prepare the March manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for PBC, assuming planned production. b.) Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for March. c.) Interpret the budget performance report. d.) Budget performance report

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