FileEditInsertFormat HelpCalibriBIUS A田,田▼三 ▼11Master BudgetActualVarianceUnits400,000425,00025,000Sales4,800,0005,100,00030,000Variable Costs:Utilities196,000217,00021,000Maintenance12,00015,000300,000288,000SuppliesVariable Payroll240,000225,0003,200,0003,488,000288,000Total Variable Costs3,936,0004,218,000282,000Contribution Margin864,000882,00018,000Fixed Costs:Management Salaries680,000680,000Rent36,00036,00055,000DepreciationTotal Fixed Costs55,000771,000771,000E Operating Income93,000111,000-18,000Flexible BudgetRateFlex BudgetActualVariance % Vaob 1-Pro Forma trcome StatProb1-Sales BudgetProb 1-Cost of Coods Sald BudgtProb 1-Operating Expense BudgetFrob 2Prob 3Prot e Middlesex Commu.69a/a43/7332952?X-Blackboard-Expiration=16207668E commnetschool mailG GoogleE Google DocsComcastO M MyOpenMathUTF-8"TestChaps22-25WorkingPapers.xlsxpearsonWordFile EditInsert Format HelpCalibriBI U S A-11田,B日BDFlexible BudgetFlex BudgetRateUnitsActualVariance % VarFav/Unfavvestigate?SalesVariable Costs:UtilitiesMaintenanceSuppliesVariable Payroll| Total Variable CostsContribution MarginFixed Costs:Management SalariesRentDepreciationTotal Fixed CostsOperating IncomeProb 2Prob 3 Prob 4 Prob 5Prob 6sb 1-Pro Forma Income Stat Probi-Sales Budget Prob l-Cost of Goods Sold Budgt Prob 1-Operating Expense Budget

Flexible budget: Flexible budget is the budget that adjusts with the change in level of activity

File Edit Insert Format Help Calibri BIUSA- 11 - 田 D Master Budget Actual Variance Units Sales Variable Costs: Utilities 400,000 425,000 25,000 4,800,000 5,100,000 30,000 196,000 217,000 21,000 Maintenance 300,000 288,000 12,000 Supplies Variable Payroll Total Variable Costs 240,000 225,000 15,000 3,200,000 3,488,000 288,000 3,936,000 4,218,000 282,000 Contribution Margin Fixed Costs: 864,000 882,000 18,000 Management Salaries 680,000 680,000 Rent 36,000 36,000 Depreciation 55,000 55,000 Total Fixed Costs 771,000 771,000 Operating Income 93,000 111,000 -18,000 Flexible Budget

File Edit Insert Format Help Calibri BIUSA- 11 - 田 D Master Budget Actual Variance Units Sales Variable Costs: Utilities 400,000 425,000 25,000 4,800,000 5,100,000 30,000 196,000 217,000 21,000 Maintenance 300,000 288,000 12,000 Supplies Variable Payroll Total Variable Costs 240,000 225,000 15,000 3,200,000 3,488,000 288,000 3,936,000 4,218,000 282,000 Contribution Margin Fixed Costs: 864,000 882,000 18,000 Management Salaries 680,000 680,000 Rent 36,000 36,000 Depreciation 55,000 55,000 Total Fixed Costs 771,000 771,000 Operating Income 93,000 111,000 -18,000 Flexible Budget

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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Master Actual Budget Sales (units) 800,000 780,000 Sales Revenue 6,000,000.47 5,790,000.59 Variable Costs Blank flash drives 1,800,000.24 1,800,000.44 Direct labor 420,000.55 495,000.94 Variable overhead 780,000.24 717,000.34 Variable marketing & admin 600,000.48 615,000.75 Total Variable Costs 3,600,001.51 3,627,002.47 Contribution Margin 2,399,998.96 2,162,998.12 Fixed Costs Manufacturing overhead 1,164,000.68 1,164,000.68 Marketing 360,000.38 360,000.38 Administrative 195,000.92 195,000.92 Total Fixed Costs 1,719,001.98 1,719,001.98 Profit 680,996.98 443,996.14 Calculate a flexible budget and…
Help Save & Exit AA company provided the following information from its flexible budget performance report: Actual Results 52 Flexible Budget Master Budget Trips (q) 2. Expenses: Maintenance expense ($4,000 + $88.00g) $8,440 $8,400 What is the spending variance for maintenance expense? Multiple Choice $136 F $136 U $176 U Nex 11 of 23 < Prev
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Problem #3 Given the following information, explain the salary variance. Costs in the de- partment are considered 50 percent variable. Salaries Paid Hours Volume Actual $228,800 20,800 19,000 Budget $237,120 19,760 20,000
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Question 1 Not complete Direct material Direct labor Variable overhead Fixed overhead Total Using Flexible Budgets The following summary data are from a performance report for Sterling Company for May, during which 9,600 units were produced. The budget reflects the company's normal capacity of 10,000 units. Actual Cost Budget 9,600 10,000 units units $ $136,800 $140,000 $(3,200) Favorable Type Marked out of 6.25 Direct material $ Direct labor Variable overhead Fixed overhead Totals PFlag question $ Variances a. Prepare a new performance report using flexible budgeting. Round all amounts to the nearest dollar. Variance Actual Costs 277,200 280,000 (2,800) Favorable 98,400 96,000 2,400 Unfavorable 72,400 72,000 400 Unfavorable $584,800 $588,000 $(3,200) $ 0 $ Flexible Budget $ 0 $ $ b. Which of the two performance reports should Sterling Company management use to measure the company's operating efficiency in May? ◆ 0 Type ♦ + + ◆
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