Below are the monthly sales forcast and actual monthly sales for Company. Company has hired you to conduct a variance analysis for its sales. In addition to the variance analysis, Company would like the entire row highlighted in green for months where the favorable variance is at least 20 percent and the entire row highlighted in red for months where the unfavorable variance is at least 20 percent. Show in Excel Month Sales forecast Actual Sales 1 83.00 $ 83.00 2 78.00 $ 58.50 3 174.00 $ 189.66 4 138.00 $ 149.04 190.00 $ 169.10 $ 153.00 $ 107.10 7 $ 54.00 $ 64.26 113.00 2$ 128.82 9. 135.00 $ 133.65 10 $ 51.00 $ 43.86

Below are the monthly sales forcast and actual monthly sales for Company. Company has hired you to conduct a variance analysis for its sales. In addition to the variance analysis, Company would like the entire row highlighted in green for months where the favorable variance is at least 20 percent and the entire row highlighted in red for months where the unfavorable variance is at least 20 percent. Show in Excel Month Sales forecast Actual Sales 1 83.00 $ 83.00 2 78.00 $ 58.50 3 174.00 $ 189.66 4 138.00 $ 149.04 190.00 $ 169.10 $ 153.00 $ 107.10 7 $ 54.00 $ 64.26 113.00 2$ 128.82 9. 135.00 $ 133.65 10 $ 51.00 $ 43.86

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the activity variances for March. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) FAB Corporation Activity Variances For the Month Ended March 31 $ 20,440 Utilities Maintenance Supplies Indirect labor Depreciation Total
3. The following information is available from the KANSAN CORP.: Actual factory O/H P15,000 Fixed O/H expenses, actual P7,200 Fixed O/H expenses, budgeted P7,000 Actual hours 3,500 Standard hours 3,800 Variable O/H rate per DLH P2.50 Assuming that Tyro uses a three-way analysis of O/H variances, what is the spending variance?
Use the information provided below to calculate the following manufacturing variances for March2022. Note: Each answer must state whether the variance is favourable or unfavourable.1. Labour rate variance2. Labour efficiency variance3. Variable overheads efficiency variance4. Variable overheads expenditure varianceINFORMATIONNevada Limited set a standard labour rate of R32 per hour and a standard variable overhead rate of R3.80 perlabour hour.Actual hours worked for March 2022 were 4 910 at a cost of R149 264. The actual variable overhead cost incurredwas R19 640. The standard allowance of labour hours for the output achieved was 5 000 hours.
Sammy Inc. wants to analyze the variances in its actual and budgeted gross profit. The following are available: Actual gross profit and actual gross profit ratio is P600,000 and 25%, respectively. • The actual sales are P400,000 more than the total budgeted sales. Budgeted sales price at actual quantity sold is P2,000,000 What is the Sales Volume Variance under 4-way analysis?
Bulldogs Inc. wants to analyze the variances in its actual and budgeted gross profit. The following are available:· Actual gross profit and actual gross profit ratio is P600,000 and 25%, respectively.· The actual sales are P400,000 more than the total budgeted sales.· Budgeted sales price at actual quantity sold is P2,000,000What is the Sales Volume Variance under 4-way analysis?
A 100-room hotel budgeted an occupancy of 75% and an average room rate of $100 per room for year 2020. Actual occupancy was 50% and average room rate was $90. Assume 365 days in a year. Find the variance in total room revenue, variance in rooms sold and variance in average room rate, and then use the variance analysis matrix to find the constituents in total rooms revenue variance by breaking it up into price variance and quantity variance.
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,300 pounds of oysters in August. The company's flexible budget for August appears below: Quilcene Oysteria Flexible Budget Actual pounds (q) Revenue ($4.15q) Expenses: Packing supplies ($0.35q) Oyster bed maintenance ($3,100) Wages and salaries ($2,500 + $0.35q) Shipping ($0.60q) Utilities ($1,210) For the Month Ended August 31 Other ($400 + $0.019) Total expenses Net operating income Actual pounds Revenue The actual results for August were as follows: Expenses: Quilcene Oysteria Income Statement For the Month Ended August 31 Packing supplies Oyster bed maintenance Wages and salaries Shipping Utilities Other Total expenses Net operating income 7,300 $ 30,295 2,555 3,100 5,055 4,380 1,210 473 16,773 $ 13,522 7,300 $ 26,600 2,725 2,960 5,465 4,110 1,020 1,093 17,373 $ 9,227
Sunshine Goods Ltd is a revenue maximizing firm that engages in the analysis of variances to provide useful information to management. The company manufactures and sells three (3) products, RG, KC and MG. During July 2019 the following budgeted and actual results were presented to you the management accountant for analysis: Budgeted Results Product Total Sales $ Volume/units Price $ Contribution margin per unit $ Total contribution margin $ RG 585,000 900 650 820 738,000 KC 500,000 500 1,000 850 425,000 MG 300,000 600 500 720 432,000 Total 2,000 1,595,000 Actual Results Product Total Sales $ Volume/units Price $ Contribution margin per unit $ Total contribution margin $ RG 500,000 500 1,000 800 400,000 KC 270,000 300 900 `900 270,000 MG 105,000 350 300 700 245,000 Total 1,150 915,000 Required: Sales margin quantity…
Sunshine Goods Ltd is a revenue maximizing firm that engages in the analysis of variances to provide useful information to management. The company manufactures and sells three (3) products, RG, KC and MG. During July 2019 the following budgeted and actual results were presented to you the management accountant for analysis: Budgeted Results Product Total Sales $ Volume/units Price $ Contribution margin per unit $ Total contribution margin $ RG 585,000 900 650 820 738,000 KC 500,000 500 1,000 850 425,000 MG 300,000 600 500 720 432,000 Total 2,000 1,595,000 Actual Results Product Total Sales $ Volume/units Price $ Contribution margin per unit $ Total contribution margin $ RG 500,000 500 1,000 800 400,000 KC 270,000 300 900 `900 270,000 MG 105,000 350 300 700 245,000 Total 1,150 915,000 Required: Sales margin price…
ty Variance OF Master Budget (19,200 units) 57,600
The following is a partial performance report for a revenue center for the Northeast Division of Flower City Restaurants. View the financial results. a percent, X. X%. Label each variance as favorable (F) or unfavorable (U).) Financial results Financial results Product Food Dessert Bar Catering 3 c Flower City Restaurants Sales Revenue - Northeast Division For the Month Ended June 30 Print Actual Sales Budgeted Sales Variance $ 166,420 $ 157,000 ? 21,200 20,000 ? 71,550 67,500 ? 53,025 52,500 Done ? Variance Percentage ? ? ? ? - X
You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company's costing system and "do what you can to help us get better control of our manufacturing overhead costs." You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overhead planning and control. After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Utilities Maintenance Supplies. Indirect labor Depreciation Cost Formula $16,800+ $0.17 per machine-hour $38,600+ $1.90 per machine-hour $0.40 per machine-hour $94,700+ $2.10 per machine-hour $67,700 Actual Cost in March $ 22,850 $ 79,900 $9,800 $ 148, 100 $ 69,400 During March, the company worked 23,000 machine-hours and produced 17,000 units. The company had originally planned to work 25,000 machine-hours during March.…