A fixed budget for 72.000 units of production shows $132,480 of sales, $95,040 of variable costs, and $38,120 of fixed costs. Compute the flexible budget income if the company actually produces and sells 82,000 units Fixed costs Variable costs Contribution margin Variable Amount per S 0.00 Total Ford Cost Flexible Budget for $2.000 Uni Sales $ $

A fixed budget for 72.000 units of production shows $132,480 of sales, $95,040 of variable costs, and $38,120 of fixed costs. Compute the flexible budget income if the company actually produces and sells 82,000 units Fixed costs Variable costs Contribution margin Variable Amount per S 0.00 Total Ford Cost Flexible Budget for $2.000 Uni Sales $ $

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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Required information [The following information applies to the questions displayed below.] The fixed budget for 21,400 units of production shows sales of $470,800; variable costs of $64,200; and fixed costs of $141,000. If the company actually produces and sells 27,000 units, calculate the flexible budget income. ------Flexible Budget------ ------Flexible Budget at ------ Variable Amount Total Fixed 21,400 units 27,000 units per Unit Cost Contribution margin
Sales price $91 Direct material per unit 31 Direct labor per unit 16 Variable manufacturing overhead per unit 13 Fixed manufacturing overhead per unit 77,000 Variable sales and admin expenses per unit 4 Fixed sales and admin expenses per unit 24,000 Taxes 30%* *of income before taxes Prepare a flexible budgeted income for 100,000 units using the above information from a static budget for 80,000 units: Flexible Budgeted Income Statement $- Select - Cost of Goods Sold - Select - - Select - - Select - - Select - $- Select - $- Select - - Select - - Select - $- Select - - Select - $- Select -
The fixed budget for 21,700 units of production shows sales of $564,200; variable costs of $65,100; and fixed costs of $143,000. If the compamy actually produces and sells 27,500 units, calculate the flexible budget income.
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Variable Costs, Contribution Margin, Contribution Margin Ratio Super-Tees Company plans to sell 20,000 T-shirts at $19 each in the coming year. Product costs include: Direct materials per T-shirt $6.65 $1.33 Direct labor per T-shirt Variable overhead per T-shirt $0.57 Total fixed factory overhead $43,000 Variable selling expense is the redemption of a coupon, which averages $0.95 per T-shirt; fixed selling and administrative expenses total $13,000.
The fixed budget for 20,600 units of production shows sales of $473,800; variable costs of $61,800; and fixed costs of $141,000. If the company actually produces and sells 26,700 units, calculate the flexible budget income.
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Fixed costs in total: Manufacturing $100,000 (Budgeted or planned and actual) Selling & Admin $ 75,000 Variable costs per unit: Manufacturing $ 11 Selling & Admin. $ 2 There were 5,000 units in inventory January 1, 2011. During the year 25,000 units were produced and 28,000 units were sold. Planned or budgeted production was 20,000 units. Under variable costing, the product cost of one unit would be: Assume that the operating income under variable costing is $28,000. What is the operating income under absorption costing? (You do not need to prepare an income statement to answer this question and the Price per unit is not given.) The Production Volume Variance (PVV) variance is: Should the PVV be ‘added’ or ‘subtracted’ from COGS to make the adjustment?