Bickel Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November: Customers served Revenue ($3.60q)- Expenses: Wages and salaries ($24,500+ $1.35q) Supplies ($0.75g) Insurance ($6,400) Miscellaneous expense ($5,400 + $0.44q) Total expense Net operating income Bickel Corporation Comparison of Actual Results to Planning Budget For the Month Ended November 30 Customers served Actual Results 46,000 Actual Results 1. 46,000 45,000 $ 165,300 $ 162,000 $3,300 F 86,600 31,950 6,400 23,400 148,350 $ 16,950 Required: Prepare the company's flexible budget performance report for November. Match the cell number to the correct answer. 2. Planning Budget 46,000 $ Variances 3. 85,250 1,350 U 33,750 1,800 F 6,400 0 None 25,200 1,800 F 150,600 2,250 F 11,400 $ 5,550 F Planning Budget 45,000

Q: Horizontal analysis is often referred to as the simplest approach of analyzing information. True…

A: Horozontal analysis also known as trend analysis is used to analyse and compare the data present in…

Q: briefly explain what is meant by breakven points

A: Cost accounting is the part of accounting that helps in determining the total cost of production. It…

Q: Explain the features of HELOCs that differentiate them from HELs with example?

A: Home equity refers to the difference in the value of the home and the mortgage balance. In HELs and…

Q: Explain put–call parity relationship

A: Put-Call parity is the concept that defines the relationship between price of European call option…

Q: Explain red herring

A: Red herring It is an introductory prospectus recorded with the Securities and Exchange Commission…

Q: What is a limit order?

A: Limit order It is such an order to buy or trade a security at or superior to a predefined cost. The…

Q: Explain rebalance

A: Rebalancing is the strategy for realigning portfolio weightings. Rebalancing incorporates buying or…

Q: Explain the put call parity model. What are the advatages and disavantages of it?

A: Put-call parity characterizes the connection between calls, puts and the underlying assest price or…

Q: Project b npv is incorrect. MIRR is wrong for A and B.

A:

Q: Explain an example of faithful representation.

A:

Q: Explain what is meant by the term “system”. How do subsystems, systems and systems of systems…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: How does the Representational faithfulness is enhanced if information is free from error?

A: Accounting:   Accounting is the process of recording the financial transaction of the organization…

Q: Name two different ways that MPTBs can be overcollateralized

A: The MPTBs are viewed as hybrid securities. Such bonds have qualities of mortgage backed bond (MBB)…

Q: Define Double-entry system.

A: Double entry system: Double entry system is a way of accounting or bookkeeping which implies that…

Q: solution

A: The term "present value" (PV) refers to the value at the current time of a quantity of money or…

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.