Benson Manufacturing Company established the following standard price and cost data. $ 8.00 per unit $3.40 per unit $ 2,400 total $900 total Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost Bertson planned to produce and sell 2,700 units. Actual production and sales amounted to 3,000 units. Required a. Prepare the pro forma income statement in contribution format that would appear in a master budget. b. Prepare the pro forma income statement in contribution format that would appear in a flexible budget Complete this question by entering your answers in the tabs below. Required Prepare the pro forma income statement in contribution format that would appear in a master budget. BENSON MANUFACTURING COMPANY Pro Forma Income Statement Required A Master Budget 2,700 Units 0

Benson Manufacturing Company established the following standard price and cost data. $ 8.00 per unit $3.40 per unit $ 2,400 total $900 total Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost Bertson planned to produce and sell 2,700 units. Actual production and sales amounted to 3,000 units. Required a. Prepare the pro forma income statement in contribution format that would appear in a master budget. b. Prepare the pro forma income statement in contribution format that would appear in a flexible budget Complete this question by entering your answers in the tabs below. Required Prepare the pro forma income statement in contribution format that would appear in a master budget. BENSON MANUFACTURING COMPANY Pro Forma Income Statement Required A Master Budget 2,700 Units 0

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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Z Ltd has prepared the Budget for the production of 1,00, 000 units from a costing period as unuer. \table[[Particulars, Amount per unit (7)], [Raw materials,10.08], [Direct Labour,3], [Direct Expenses, 0.40], [Works Overhead (60% fixed), 10], [Administration Overhead (80% fixed), 1.60], [Sales Overhead (50% fixed), 0.80]] Actual production of the year is only 60, 000 units. Prepare the Budget for original and revised levels of output.
Harlow Parts produces a single product at its Superior Plant. The master budget for July follows: Harlow Parts Superior Plant Master Budget (For July) Quantity Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit The following operating income statement shows the actual results for July: Harlow Parts Superior Plant Operating Results (For July) Quantity (units) Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin 8,800 $ 1,560,000 721,600 97,600 $ 740,800 211, 200 334,000 $ 195,600 Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit 10,200 $ 1,726,800 879,954 110,640 $ 736,206 220,320 344,000 $ 171,886 < Prev 10 of 10 ‒‒‒ Next
Assume that a company provided the following cost formulas for three of its expenses (where q refers to the number of hours worked): Rent (fixed) Supplies (variable) Utilities (mixed) $ 3,000 $ 4.00g $ 205 + $ 0.759 The company's planned level of activity was 2,000 hours and its actual level of activity was 1,900 hours. How much utilities expense would be included in the planning budget? Multiple Choice $1,500 $1,630 $1,705 $1,730
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Q1. Prepare a Flexible budget for overheads on the basis of the following data. Ascertain the overhead rates at 70% and 80% capacity. Variable Overheads (60% capacity) Indirect Material = Rs. 6,000 Labour Rs. 18,000 Semi-variable overheads: Electricity (40% fixed) = Rs. 40,000 Repairs (80% fixed) = Rs. 2,400 Fixed Overheads: Depreciation Rs. 16,500 Insurance Rs. 4,500 Salaries= Rs. 20,000 Estimated Labour Hours 15,000 hrs H =
Banks Corporation has the following information for direct materials for the latest period. BANKS CORPORATION INFORMATION FOR DIRECT MATERIALS FOR THE LATEST PERIOD Standard price per unit of direct materials Actual price per unit of direct materials Budgeted units of output Standard quantity of direct materials allowed per unit of output Actual units of direct materials used Actual units of direct materials purchased Actual units of output produced SA SA $ 15.00 $ 16.50 45,000 3 units 40,000 50,000 14,000 The company calculates its price variance based on quantity purchased. What was the total quantity of direct materials allowed based on the standards? 45,000. 50,000.
Starbucks sells coffee beans, which are sensitive to price fluctuations. Suppose the following inventory information is available for this product at December 31, 2025. Coffee Bean Caffeinated Coffea arabica Coffea robusta Decaffeinated Coffea arabica Coffea robusta Units 13,400 bags 5,000 bags 11,400 bags 4,000 bags Starbucks' inventory Unit Cost $ $5.50 3.30 6.10 4.70 Net Realizable Value Per Unit $5.45 3.40 6.30 Calculate Starbucks inventory by applying the lower-of-cost-or-net realizable value basis. 4.40
Duo, Incorporated, carries two products and has the following year-end income statement (000s omitted): Product AR-10 Product ZR-7 Budget Actual Budget Actual Units 4,000 5,600 10,000 9,300 Sales $ $ 28,000 $ 15,120 $ 20,000 $ 19,530 Variable costs 3,200 5,600 10,000 9,770 Fixed Costs 1,800 1,900 2,400 2,400 Total Costs $ 5,000 $ 7,500 $ 12,400 $ 12,170 Operating income $ 23,000 $ 7,620 $ 7,600 $ 7,360 The net effect of AR-10's sales volume variance on profit is: Multiple Choice $4,960 favorable. $5,660 favorable. $7,330 favorable. $8,030 favorable. $9,920 favorable. THE ANSWER IS NOT 8030 and I am not sure why
4. Running Shorts Co. makes two products: A and B. In the folding department, budgeted information is as follows: Budgeted indirect labor costs in the workshop: $150,000 Budgeted depreciation expenses of equipment: $50,000 Budgeted direct labor costs: $100,000 Budgeted units produced: 50,000 The company allocates indirect labor costs based on direct labor costs and allocates depreciation expenses of equipment based on units produced. The actual direct labor costs for product A are $60,000 and 40,000 units of product A are produced. How much is the manufacturing overhead of product A in the folding department? 120,000 90,000 130,000 40,000
Nn.18. Subject :- Account
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