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anco Industries has a relevant range extending to 31,000 units each month. The following performance report provides information about Kanco's budget and actual performance for September. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zer considered favorable.) Output units Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Budget Actual 26,000 $ 242,000 $ 176,800 18.500 variance 5,400 F Volume Variance 11 11 Master Budget 31,000 $ 194,680 22,500 Data table 1 2 3 A B 4 5 Output units 6 Sales revenue 7 Less: Variable expenses 8 Contribution margin 9 Less: Fixed expenses 10 Operating income с Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible variance budget Flexible Volume Budget Variance ? ? - ? Actual 26,000 $ 242,000 176,800 ? 18,500 ? Print $5,400 F ? ? ? ? D Done E ? ? ? ? ? ? ? ? |$ F Master Budget 31,000 ? 194,680 ? - X 22,500 ?

anco Industries has a relevant range extending to 31,000 units each month. The following performance report provides information about Kanco's budget and actual performance for September. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zer considered favorable.) Output units Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Budget Actual 26,000 $ 242,000 $ 176,800 18.500 variance 5,400 F Volume Variance 11 11 Master Budget 31,000 $ 194,680 22,500 Data table 1 2 3 A B 4 5 Output units 6 Sales revenue 7 Less: Variable expenses 8 Contribution margin 9 Less: Fixed expenses 10 Operating income с Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible variance budget Flexible Volume Budget Variance ? ? - ? Actual 26,000 $ 242,000 176,800 ? 18,500 ? Print $5,400 F ? ? ? ? D Done E ? ? ? ? ? ? ? ? |$ F Master Budget 31,000 ? 194,680 ? - X 22,500 ?

FINANCIAL ACCOUNTING
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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Kanco Industries has a relevant range extending to 31,000 units each month. The following performance report provides information about Kanco's budget and actual performance for September. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Output units Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Budget Actual 26,000 $ 242,000 $ 176,800 Kanco Industries 18,500 variance 5,400 F Volume Variance Master Budget 31,000 $ 194,680 22,500 Data table 1 2 3 A B 4 5 Output units 6 Sales revenue 7 Less: Variable expenses 8 Contribution margin 9 Less: Fixed expenses 10 Operating income C Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget variance Actual 26,000 $ 242,000 176,800 ? 18,500 ? Print $5,400 F ? ? ? ? D Done Flexible Budget ? ? ? ? ? E ? Volume Variance ? ? ? ? ? $ F Master Budget 31,000 ? 194,680 ? 22,500 ? X
Transcribed Image Text:Kanco Industries has a relevant range extending to 31,000 units each month. The following performance report provides information about Kanco's budget and actual performance for September. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Output units Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Budget Actual 26,000 $ 242,000 $ 176,800 Kanco Industries 18,500 variance 5,400 F Volume Variance Master Budget 31,000 $ 194,680 22,500 Data table 1 2 3 A B 4 5 Output units 6 Sales revenue 7 Less: Variable expenses 8 Contribution margin 9 Less: Fixed expenses 10 Operating income C Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget variance Actual 26,000 $ 242,000 176,800 ? 18,500 ? Print $5,400 F ? ? ? ? D Done Flexible Budget ? ? ? ? ? E ? Volume Variance ? ? ? ? ? $ F Master Budget 31,000 ? 194,680 ? 22,500 ? X
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