FlexibleSalesActualFlexibleMasterBudgetActivityResultsBudgetBudgetVarianceVarianceUnits10,000?2,700Sales revenue?10,000 F??Less:87,10090,300?98,000Contribution margin51,300??6,700What is the sales revenue in the flexible budget?Hint: Use your variances to find missing numbers and back into an answer

Budgetary control: It is the process under which the budget is compared with actual performance to…

Flexible Sales Actual Flexible Master Budget Activity Results Budget Budget Variance Variance Units 10,000 ? 2,700 ? Sales revenue ? 10,000 F ? ? ? Less: 87,100 90,300 98,000 ? 3,900 ? 3,300 F 29,300 Contribution margin 51,300 ? ? 6,700 U ? What is the sales revenue in the flexible budget? Hint: Use your variances to find missing numbers and back into an answer

Flexible Sales Actual Flexible Master Budget Activity Results Budget Budget Variance Variance Units 10,000 ? 2,700 ? Sales revenue ? 10,000 F ? ? ? Less: 87,100 90,300 98,000 ? 3,900 ? 3,300 F 29,300 Contribution margin 51,300 ? ? 6,700 U ? What is the sales revenue in the flexible budget? Hint: Use your variances to find missing numbers and back into an answer

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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These are True/False questions. ____ 6. If the total unit cost of manufacturing Product Y is currently $36 and the total unit cost after modifying the style is estimated to be $48, the differential cost for this situation is $12. ____ 7. A process whereby the effect of fluctuations in level of activity is built into the budgeting system is referred to as flexible budgeting. ____ 8. In an investment center, the manager has the responsibility and the authority to make decisions that affect not only costs and revenues, but also the plant assets invested in the center. ____ 9. The capital expenditures budget summarizes future plans for acquisition of fixed assets. ____ 10. The process by which management plans, evaluates, and controls long-term investment decisions involving fixed assets is called capital investment analysis.