Barlow Company manufactures book bags and has provided the following information for June 2018: E (Click the icon to view the information.) Requirements 1. Prepare a flexible budget performance report. (Hint. You will need to calculate the flexible budget amounts for 10,000 units.) As the company owner, which employees would you praise or criticize after you analyze this performance report? 2. Requirement 1. Prepare a flexible budget performance report. (Hint. You will need to calculate the flexible budget amounts for 10,000 units.) (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F/Unfavorable (U) input blank. Enter all amounts as positive values.) Barlow Company Flexible Budget Performance Report For the Month Ended June 30, 2018 - X 2 3 4 Data Table (1) - (3) (3) - (5) Budget Flexible Sales Amounts Actual Budget Flexible Volume Static Actual Results Static Budget 11,000 Per Unit Results Variance Budget Variance Budget Units 10,000 Units Sales Revenue 174,000 $ 187,000 Sales Revenue Variable Expenses 91,400 99,000 Variable Expenses Contribution Margin 82,600 88,000 Contribution Margin Fixed Expenses 16,000 18,000 Fixed Expenses Operating Income 66,600 $ 70,000 Operating Incomer Print Done

Barlow Company manufactures book bags and has provided the following information for June 2018: E (Click the icon to view the information.) Requirements 1. Prepare a flexible budget performance report. (Hint. You will need to calculate the flexible budget amounts for 10,000 units.) As the company owner, which employees would you praise or criticize after you analyze this performance report? 2. Requirement 1. Prepare a flexible budget performance report. (Hint. You will need to calculate the flexible budget amounts for 10,000 units.) (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F/Unfavorable (U) input blank. Enter all amounts as positive values.) Barlow Company Flexible Budget Performance Report For the Month Ended June 30, 2018 - X 2 3 4 Data Table (1) - (3) (3) - (5) Budget Flexible Sales Amounts Actual Budget Flexible Volume Static Actual Results Static Budget 11,000 Per Unit Results Variance Budget Variance Budget Units 10,000 Units Sales Revenue 174,000 $ 187,000 Sales Revenue Variable Expenses 91,400 99,000 Variable Expenses Contribution Margin 82,600 88,000 Contribution Margin Fixed Expenses 16,000 18,000 Fixed Expenses Operating Income 66,600 $ 70,000 Operating Incomer Print Done

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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As sales manager, Joe Batista was given the following static budget report for selling expenses in the Clothing Department of Soria Company for the month of October. Sales in units Variable expenses Sales commissions Advertising expense Travel expense Free samples given out Total variable Fixed expenses Rent Sales salaries Office salaries Depreciation-autos (sales staff) Total fixed SORIA COMPANY Clothing Department Budget Report For the Month Ended October 31, 2020 Total expenses Budget 7,500 $1,950 975 3,600 1,200 7,725 1,500 1,300 900 600 4,300 $12,025 Actual 11,000 1,210 3,850 1,540 $2,970 $1,020 Unfavorable 9,570 1,500 1,300 900 600 4,300 Difference Favorable Unfavorable Neither Favorable nor Unfavorable 3,500 Favorable 235 Unfavorable 250 Unfavorable 340 Unfavorable -0- 1,845 Unfavorable -0- Neither Favorable nor Unfavorable Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable $13,870…
1. Explain why a company needs these budgets used in #2 of your homework and how will they help the manager prepare for the next year? For example: ordering inventory, increasing or decreasing material costs so their sales will increase and cost decrease (labor, raw materials, or costs that pertain to operations)? Make sure to explain what each budget tells the manager.
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Statler Corporation wants to find an equation to estimate some of their monthly operating costs for the operating budget for 2021. The following cost and other data were gathered for 2020: (Click the icon to view the cost and other data) Read the requirements. Requirement 1. Which of the preceding costs is variable? Fixed? Mixed? Explain. Cost function Mixed Fixed Variable Cost Maintenance Health insurance Shipping costs Requirement 2. Using the high-low method, determine the cost function for each cost. Begin by selecting the general formula that represents the linear cost function for each cost. y = a +bX y = a y = bX Maintenance Health insurance Shipping costs Now determine the cost function for each cost. (Enter all values in the same format as the general linear formula. If an input field is not used in the Cost function Maintenance Explanation The cost neither remains constant in total nor remains constant per unit. Although the cost driver varies from month to month, the total…
Based on the information given, a) PREPARE the following budgets:i. Sales Budget, ii. Production Budget, iii. Direct Material Usage Budget, iv. Direct Material Purchase Budget and v. Direct Labour Budget b) DESCRIBE THREE (3) purposes of preparing budgets
1. What is the total budgeted indirect cost at the Elmore store in January 2018? What is the total budgeted cost of each activity at the Elmore store for January 2018? What is the budgeted indirect cost of each product category for January 2018? 2. Which product category has the largest fraction of total budgeted indirect costs? 3. Given your answer in requirement 2, what advantage does Maclin's Corner gain by using an activity-based approach to budgeting over, say, allocating indirect costs to products based on cost of goods sold?
please answer the follong question thanks
Sheridan Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2022. Estimated unit sales Unit selling price Direct labor hours per unit Direct labor cost per hour January 10,560 (a) $60 2.0 $6.0 Your Answer Correct Answer February March April 12,320 9,680 $57.5 $57.5 2.0 $6.0 11,440 $57.5 1.5 1.5 May 9,680 $57.5 1.5 Sheridan has a labor contract that calls for a wage increase to $7.0 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. $6.0 $7.0 $7.0 Sheridan expects to begin the year with 15,488 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 40% of the second following month's sales.
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Q.Prepare the direct material usage and purchases budgets for January 2018.
As sales manager, Joe Batista was given the following static budget report for selling expenses in the Clothing Department of Soria Company for the month of October. Sales in units Variable expenses Sales commissions Advertising expense Travel expense Free samples given out Total variable Fixed expenses Rent (a) Sales salaries Office salaries Depreciation-autos (sales staff) Total fixed Total expenses SORIA COMPANY Clothing Department Budget Report For the Month Ended October 31, 2022 Budget 8,000 $2,400 720 3,600 1,600 8,320 1,500 1,200 800 500 4,000 $12,320 Actual $2,600 850 10,000 2,000 Favorable 4,100 1,400 8,950 1,500 1,200 800 500 4,000 Difference $12,950 Favorable Unfavorable Neither Favorable nor Unfavorable $200 Unfavorable 130 Unfavorable 500 Unfavorable 200 Favorable 630 Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable -0- Neither Favorable nor Unfavorable $630…