Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable.The company budgets a selling price of $89 per unit and variable costs of $34 per unit. (Indicate the effect of each variance byselecting favorable, unfavorable, or no variance.)Flexible Budget Performance ReportFor Month Ended June 30SalesFlexible Budget(12,600 units)Variable costsContribution marginFixed costsIncomeActual Results(12,600 units)VariancesFavorable/Unfavorable$28,600 Favorable369,000693,000288,000303,000

The flexible budget is prepared for the actual level of production using the standard rates. The…

Answered: Exercise 21-4 (Algo) Preparing flexible…

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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Flexible Analysis Report Actual Flexible Sales-Volume Static Budget Results Budget Variances Budget Variance 18,500 A) B) C) 20,000 Units Sold D) $185,000 Fav E) F) G) Revenues H $92,500 Un I) $90,000 Fav J) Variable Costs K) $50,000 Fav L) M) $500,000 Fixed Costs N) O) P) Q) R) Operating Income A) B) C) D) E) F) G) H) I) J) K) L) M) N) O) P) Q) Q)
Chapter 9 Canvas Homework - SHOW YOUR WORK FOR CREDII Multiple Cost Drivers: Salamone's Pizza is a neighborhood pizzeria that has an area for in-store dining as well as offering take-out and free home delivery services. The pizzeria's owner has determined that the shop has two major cost drivers the number of pizzas sold and the number of deliveries made. The pizzeria's cost formulas appear below. Flxed Coat per Month Cost per Piza Cost per Dellvery $ 4.00 Plzza Ingredlente Kitchen staff $ 6,050 S 880 Utilitles $ 1.00 Dellvery person Dellvery vehicile $2.80 $2.20 S 700 S 456 $ 2,010 $ 800 Equipment depreclation Rent Mlscellaneous $0.20 In November, the pizzeria budgeted for 1,770 pizzas at an average selling price of $14 per pizza and for 210 deliveries. Data conceming the pizzeria's actual results in November were as follows: Actual Resulte 1,870 190 Plzzas Dellverles $ 28,800 $ 8,470 $ 5,990 $ 920 $ 532 $ 1,000 $ 458 $ 2,010 $ 832 Revenue Plzza Ingredlents Kitchen ataff Utilities…
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6 nts eBook Hint Ask C Print eferences C aw II =C Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $85 per unit and variable costs of $34 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended June 30 Sales Variable costs Contribution margin Fixed costs Income ! 1 Q A F1 N @ 2 W --- F2 S Flexible Budget Performance Report Flexible Budget Actual Results (12,300 units) (12,300 units) # 3 X 627,300 285,000 80 F3 E D 4 a F4 366,000 C 300,000 R % 5 F Variances Favorable/Unfavorable $ J B F7 H DII FB J N DD F9 9 K F10 0 Hel
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Question 18 options: Big Construction's actual results and the Master or Static budget information for the month of May is below. Big Construction is in the process of preparing the flexible budget and understanding the results. ActualResults Flexible Budget Static Budget Sales volume (in units) 13,000 10,000 Sales revenues $275,000 $250,000 Variable costs 200,000 175,000 Contribution Margin 75,000 75,000 Fixed costs 50,500 49,500 Operating profit $24,500 25,500 Using all information above, what is the flexible budget operating profit?
Self-Study Problem 14-1 Sales Volume and Flexible-Budget (FB) Variances/JIT Manufacturing [The following information applies to the questions displayed below.] Solid Box Fabrications manufactures boxes for workstations. The firm’s standard cost sheet prior to October of the current year and actual results for October are as follows: Budget Information Standard Price and Variable Costs per Unit Fixed Costs Actual Results October Units 9,700 Sales$50.00 $563,000 Variable costs: Direct materials 5 pounds at $2.50 per pound$12.40 51,400 lb*× $3 =$154,200 Direct labor 0.50 hour at $14.40 per hour 7.20 5,300 hr × $17.20 = 91,160 Manufacturing overhead 2.00 19,000 Selling and administrative 5.00 45,000 Total variable costs$26.60 $309,360 Contribution margin$23.40 $253,640 Fixed costs: Manufacturing (factory) overhead $50,000 $55,000 Selling and administrative 20,000 24,000 Total fixed costs $70,000 $79,000 Operating income $174,640 *Assume that pounds purchased = pounds issued to production…
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Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1 Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $85 per unit and variable costs of $34 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended June 30 Sales Variable costs Contribution margin Fixed costs Income Flexible Budget Performance Report Flexible Budget Actual Results (12,300 units) (12,300 units) 627,300 285,000 366,000 300,000 Variances Favorable/Unfavorable $ 44,500 Favorable
Current Attempt in Progress Sandhill's, Inc. has provided you with the following financial information: Budgeted Actual Sales Quantity 8,100 8,300 Sales price per unit $6.50 $6.25 Variable product cost per unit 2.50 2.75 Selling expense (fixed) 5,100 8,100 Administrative expense (fixed) 17,100 16,100 Income tax expense 3,900 4,100 Prepare a flexible budget. SANDHILL'S, INC. Flexible Budget Sales Revenue
Mailings Review View Help Tell me what you want to do AB-T A. G II M Paragraph 5 Styles Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: cost formulas Direct labor AaBbCcDd AaBbCcDd AaBbC AaBbCct AaB AaBbCcD AaBbCcDd Ac 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... E $16.20q Indirect labor $4,600+ $1.50q Utilities $5,200 + $0.40q Supplies Equipment depreciation Factory rent $8,400 Property taxes $2,800 Factory administration $13,300 + $0.60q The Production Department planned to work 4,000 labor-hours in March; however, it actually worked 3,800 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March Direct labor $ 63,120 Indirect labor $9,780…
Flexible Budgets, Direct-Cost Variances, and Management Control Question 2 a. Using an example, explain the concept of a flexible budget, flexible budget variances and sales volume variances. 2b. Hasan Table Company manufactures tables for schools. The 2018 operating budget is based on sales of 45,000 units at 55 Taka per table. Operating income is anticipated to be 240,000 Taka. Budgeted variable costs are 35 Taka per unit, while fixed costs total 660,000 Taka. Actual income for 2018 was a surprising 569,000 Taka on actual sales of 46,000 units at 60 Taka each. Actual variable costs were 34 Taka per unit and fixed costs totaled 627,000 Taka. Required: Prepare a variance analysis report with both flexible-budget and sales-volume variances.

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