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5: Number the following budgets in the order they are generally prepared: Factory Overhead Budget Cash Budget 2 Production Budget Operating Expense Budget 7 Pro Forma Income Statement 3 Direct Labor Budget | Sales Budget 30,000 =50,000 44000 6. A production performance report for J Corporation is shown below Flexible Budget Actual Production in Units Variance Budget Variance 50.000 units 44.000 units Direct materials $100.000 $ 90.000 Direct labor $10,000 F SSCOD 250,000 230,000 20.000 F 230,00D Variable Factory overhead: Indirect labor 25,000 21,000 4,000 F 2000 Indirect materials 20.000 17,000 3,000 F 1700D Maintenance SOD 15,000 15,000 1300 Utilities 12,500 12.000 500 F 11000 1000 Fixed Factory overhead: Supervisors' salaries 12,500 12,500 1 So Property taxes 2,000 2.200 200 U 3000 200 Depreciation 5,000 5.100 100 USD 100 Insurance 1,000 1.000 000 Prepare a flexible budget based on actual production. Did J Corporation do well or poorly? 2000 10000 1000 GODF 7th: B Company applies fixed factory overhead at the rate of $7 per machine hour. The fixed overhead budget is $28.000 per month. The standard machine hours allowed is 5 hours per finished unit. Last month, the company produced 700 units, incurring foved factory overhead costs of $26,800. Calculate the two fixed overhead variances, label them by name, indicate if each is favorable or unfavorable, and identify the position of the individual we would question to find more out about why the variance occurred

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