Blossom, Inc. prepared the following master budget items for July: Production and sales. Variable manufacturing costs: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing costs Total manufacturing costs Production and Sales Variable Manufacturing Costs: During July, Blossom actually sold 42,000 units. Prepare a flexible budget for Blossom based on actual sales. (Do not round your intermediate calculations.) Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Costs Total Manufacturing Costs 36,000 units $ 36,000 $ 86,400 $ 72,000 $110,000 $304,400 units

Blossom, Inc. prepared the following master budget items for July: Production and sales. Variable manufacturing costs: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing costs Total manufacturing costs Production and Sales Variable Manufacturing Costs: During July, Blossom actually sold 42,000 units. Prepare a flexible budget for Blossom based on actual sales. (Do not round your intermediate calculations.) Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Costs Total Manufacturing Costs 36,000 units $ 36,000 $ 86,400 $ 72,000 $110,000 $304,400 units

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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ABC Company's budgeted sales for June, July, and August are 13,000, 17,000, and 14,700 units respectively. The following cost behavior patterns are budgeted for ABC Company's operating expenses each month: Fixed costs: salaries, $2,500; rent, $5,500; depreciation, $2,900; advertising, $3,700 Mixed costs: utilities, $3,500 + $0.40 per unit Variable costs per unit sold: sales commissions, $2.50; marketing promotions, $1.50; supplies, $0.45; bad debt expense, $0.20 Required: Prepare ABC Company's operating expense budget for June, July, and August. Note: Enter all values as positive value.
Blossom, Inc. prepared the following master budget items for July: Production and sales 22,000 units Variable manufacturing costs : $ 22,000 $ 52,800 $ 55,000 $110,000 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing costs Total manufacturing costs $239,800 During July, Blossom actually sold 28,000 units. Prepare a flexible budget for Blossom based on actual sales. (Do not round your intermediate calculations.) Production and Sales units Variable Manufacturing Costs: Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Costs Total Manufacturing Costs
ABC Company’s budgeted sales for June, July, and August are 13,000, 17,000, and 14,700 units respectively. The following cost behavior patterns are budgeted for ABC Company’s operating expenses each month: Fixed costs: salaries, $2,500; rent, $5,500; depreciation, $2,900; advertising, $3,700 Mixed costs: utilities, $3,500 + $0.40 per unit Variable costs per unit sold: sales commissions, $2.50; marketing promotions, $1.50; supplies, $0.45; bad debt expense, $0.20 Required: Prepare ABC Company’s operating expense budget for June, July, and August. Note: Enter all values as positive value.
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Beech Company produced and sold 113,000 units in May. For the level of production in May, budgeted amounts were sales, $1,390,000; variable costs, $841,000; and fixed costs, $250,000. The following actual results are available for May Actual Results Sales (113,000 units) Variable costs Fixed costs $ 1,372,000 811,500 250,000 Prepare a flexible budget performance report for May. Indicate whether each variance is favorable or unfavorable (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) BEECH COMPANY Flexible Budget Performance Report For Month Ended May 31 Favorable/ Unfavorable Flexible Budget Actual Results Variances Contribution margin
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