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Dream Muffins sells its muffins to restaurants and coffee houses for an average selling price of $32 per case. The following information relates to the budget for Dream Muffins for this year (all figures are annual totals unless otherwise noted): Sales revenue ($32 per case) Dream Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual 8,900 cases Budget Variance Budget 8,900 cases Volume Master Budget Variance 8,800 cases Actual expenses Requirement Construct a flexible budget performance report for Dream Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). Office rent Print Done Packaging cost $ 10,200 Shipping expense $ 18,300 Sales commission expense $ 8,760 Salaries expense $ 8,100 $ 3,600 Depreciation 3,200 Insurance expense .. $ 900 Office supplies expense 800 During the year, DreamMuffins actually sold 8,900 Budget information Budgeted sales in cases...... 8,800 cases Packaging cost per case Shipping expense per case $ 2 Sales commission expense 3% of sales price Salaries expense 6,500 Office rent 3,600 Depreciation 3,200 Insurance expense 1,500 - X Office supplies expense. S 700 Print Done

Dream Muffins sells its muffins to restaurants and coffee houses for an average selling price of $32 per case. The following information relates to the budget for Dream Muffins for this year (all figures are annual totals unless otherwise noted): Sales revenue ($32 per case) Dream Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual 8,900 cases Budget Variance Budget 8,900 cases Volume Master Budget Variance 8,800 cases Actual expenses Requirement Construct a flexible budget performance report for Dream Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). Office rent Print Done Packaging cost $ 10,200 Shipping expense $ 18,300 Sales commission expense $ 8,760 Salaries expense $ 8,100 $ 3,600 Depreciation 3,200 Insurance expense .. $ 900 Office supplies expense 800 During the year, DreamMuffins actually sold 8,900 Budget information Budgeted sales in cases...... 8,800 cases Packaging cost per case Shipping expense per case $ 2 Sales commission expense 3% of sales price Salaries expense 6,500 Office rent 3,600 Depreciation 3,200 Insurance expense 1,500 - X Office supplies expense. S 700 Print Done

FINANCIAL ACCOUNTING
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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Dream Muffins sells its muffins to restaurants and coffee houses for an average selling price of $32 per case. The following information relates to the budget for Dream Muffins for this year (all figures are annual totals unless otherwise noted): Sales revenue ($32 per case) Dream Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual Budget 8,900 cases Variance Budget 8,900 cases Volume Master Budget Variance 8,800 cases Requirement Construct a flexible budget performance report for Dream Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). Print Done Actual expenses - X Packaging cost $ 10,200 Shipping expense $ 18,300 Sales commission expense $ 8,760 Salaries expense $ 8,100 Office rent $ 3,600 Depreciation $ 3,200 Insurance expense Office supplies expense $ 900 $ 800 During the year, DreamMuffins actually sold 8,900 cases, resulting in total sales revenue of $292,000. - X Budget information Budgeted sales in cases 8,800 cases Packaging cost per case Shipping expense per case 1 2 Sales commission expense .... 3% of sales price Salaries expense 6,500 Office rent Depreciation Insurance expense Office supplies expense 3,600 3,200 1,500 700 Print Done Clear all Check answer
Transcribed Image Text:Dream Muffins sells its muffins to restaurants and coffee houses for an average selling price of $32 per case. The following information relates to the budget for Dream Muffins for this year (all figures are annual totals unless otherwise noted): Sales revenue ($32 per case) Dream Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual Budget 8,900 cases Variance Budget 8,900 cases Volume Master Budget Variance 8,800 cases Requirement Construct a flexible budget performance report for Dream Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). Print Done Actual expenses - X Packaging cost $ 10,200 Shipping expense $ 18,300 Sales commission expense $ 8,760 Salaries expense $ 8,100 Office rent $ 3,600 Depreciation $ 3,200 Insurance expense Office supplies expense $ 900 $ 800 During the year, DreamMuffins actually sold 8,900 cases, resulting in total sales revenue of $292,000. - X Budget information Budgeted sales in cases 8,800 cases Packaging cost per case Shipping expense per case 1 2 Sales commission expense .... 3% of sales price Salaries expense 6,500 Office rent Depreciation Insurance expense Office supplies expense 3,600 3,200 1,500 700 Print Done Clear all Check answer
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