Bulldogs Inc. sells the following products. The following were obtained from the records: 2022 Units sold Products Dog Food Dog Treats Cost of Sales 10,000.00 Gross Profit 2,000.00 Sales 12,000.00 500.00 10,000.00 9,000.00 1,000.00 250.00 22,000.00 19,000.00 3,000.00 750.00 2021 Products Sales Cost of Sales Gross Profit Units Dog Food Dog Treats 250.00 11,000.00 10,000.00 10,000.00 1,000.00 2,000.00 8,000.00 250.00 21,000.00 18,000.00 3,000.00 500.00

Q: Which of the following is determined by subtracting all variable costs from the total selling price?…

A: Income statement is a financial statement that shows profitability, total revenue and total…

Q: 1. At the break-even point than a yot nisb a. Contribution margin = fixed costs b. Variable costs =…

A: Break even point resents the level of sales or revenue at which total costs (fixed costs and…

Q: 2. Determine the missing amounts. Contribution Margin Contribution Margin per Unit Unit Selling…

A: The missing figures in the above table.

Q: Which statement may not always hold true? A. Increase in the units sold always lead to unfavorable…

A: In the given question, Option B - "Increase in Sale Price will always lead to favorable sales…

Q: When using a standard cost system what term is used to denote that the actual cost is less than the…

A: Standard cost is calculated using estimated amounts. If the actual cost is less than the standard…

Q: None

A: A standard cost is a predetermined cost that serves as a benchmark for measuring performance. Let's…

Q: When using a standard cost system what term refers to the differences between actual and standard…

A: Difference of actual and standard cost is measured to calculate the variance. The variances of cost…

Q: At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material -…

A: Standard price = Estimated Raw material cost / Estimated units Raw material efficiency variance =…

Q: How is the break-even point calculated? a. Fixed Costs / Contribution Margin Ratio b. Sales /…

A: Lets understand the basics.Break even point is a point at which no profit no loss condition arise.…

Q: Fixed overhead volume variance is a flexible budget variance. O True False

A: Fixed overheads are those indirect costs which will not change with change in activity level. These…

Q: Variances are computed by taking the difference between which of the following? Multiple Choice O…

A: Product costs are the costs that are directly related to the production of goods or services. Period…

Q: 1. What is the activity variance for the revenue? (Indicate the effect of each variance by selecting…

A: Variance analysis is one of the important technique of management accounting analysis, under which…

Q: Compare and contrast the two different methods of computing breakeven units. Does the use of the…

A: There are two primary methods of computing breakeven units: the Equation Method and the Contribution…

Q: When selling prices and inventory costs are stable, a decrease in units sold would result to _sales…

A: Varaince is the difference of actual results and budgeted data.

Q: Whirly has the following information for 2015. They sell Flying Carpets. Sales Contribution Margin…

A: The break even sales are the sales where business earns no profit no loss during the period. The…

Q: 3. The sales level at which operating income is zero. Drop in sales a company can absorb without…

A: Break even analysis involves determination of sales level at which the firm's total revenue equals…

Q: Variance percentage is calculated by dividing the choose your answer... by the choose your answer...

A: Variation refers to the difference i.e. the difference between the current amounts with the budgeted…

Q: Why is variable cost $174?

A: Variable costs are the costs which are directly related to the production of a unit. If there is no…

Q: For the given cost function C(x) = 28900 + 500x + x², First, find the average cost function. Use it…

A: Average cost function  = C(x) / x = (28900+500x+x2)/x

Q: activity of 17,100 hours: Direct Materials (6 ft. x $5/ft) Direct Labor (1.6 hrs.x $10/hr)…

A: Standard Price = $10  Actual Production = 12,100  Standard hours  for actual Production  = actual…

Q: When performing sensitivity analysis, which of the following is an example of a variable that…

A: Sensitivity analysis:   Sensitivity analysis is a mathematical method to analyze how values of the…

Q: what is the breakeven sales level in units?

A: Answer:   Option D.

Q: Hi the volume variance portion is missing

A: A volume variance is the difference between the actual quantity sold or consumed and the budgeted…

Q: Rodolfo works at Johnson Incorporated and is tasked with measuring costs. When Rodolfo identifies…

A: The correct answer is option D : Unfavorable varianceThe negative discrepancy between actual…

Q: Given the mixed cost function y = $6.50x + $3,000. What does the $6.50 represent? a.Total cost per…

A: Intercept is the total fixed cost and slope of cost function is the variable cost per unit. And the…

Q: Explain the relationship between contango, cost-of-carry, and convenience yield. d. Explain the…

A: A derivative contract is a financial agreement or instrument between two or more parties that…

Q: 7. The formula for the materials quantity variance is A. (SQ × AP) - (SQ x SP). B. (AQ × AP) - (AQ -…

A: Direct materials Quantity variance is used for the comparing actual and standard materials used in…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.