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For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total Variable Costs Contribution margin Fixed costs Depreciation Machinery Supervisory salary Insurance Depreciation Office equipment Administrative salaries Total Fixed Costs Income NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,500 units) (7,500 units) 0 0 Actual Results 0 0 Variances Favorable/Unfavorable Favorable Unfavorable 1,600 Unfavorable 600 Favorable Favorable Unfavorable Favorable 0 No variance Unfavorable 0 No variance 0 No variance Favorable Favorable Favorable

For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total Variable Costs Contribution margin Fixed costs Depreciation Machinery Supervisory salary Insurance Depreciation Office equipment Administrative salaries Total Fixed Costs Income NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,500 units) (7,500 units) 0 0 Actual Results 0 0 Variances Favorable/Unfavorable Favorable Unfavorable 1,600 Unfavorable 600 Favorable Favorable Unfavorable Favorable 0 No variance Unfavorable 0 No variance 0 No variance Favorable Favorable Favorable

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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For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total Variable Costs Contribution margin Fixed costs Depreciation Machinery Supervisory salary Insurance Depreciation Office equipment Administrative salaries Total Fixed Costs Income NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,500 units) (7,500 units) 0 0 Actual Results 0 0 Variances Favorable/Unfavorable Favorable Unfavorable 1,600 Unfavorable 600 Favorable Favorable Unfavorable Favorable 0 No variance Unfavorable 0 [No variance 0 No variance Favorable Favorable Favorable
Transcribed Image Text:For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total Variable Costs Contribution margin Fixed costs Depreciation Machinery Supervisory salary Insurance Depreciation Office equipment Administrative salaries Total Fixed Costs Income NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,500 units) (7,500 units) 0 0 Actual Results 0 0 Variances Favorable/Unfavorable Favorable Unfavorable 1,600 Unfavorable 600 Favorable Favorable Unfavorable Favorable 0 No variance Unfavorable 0 [No variance 0 No variance Favorable Favorable Favorable
For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs Depreciation Machinery Supervisor salary Insurance Depreciation-Office equipment Administrative salaries Total fixed costs Income Fixed Budget Variable Amount per Unit $ 100 35 15 4 11 65 $35 Total Fixed Cost $ 71,050 42,150 10,450 7,700 33,900 $ 165,250 Fixed Budget (7,800 units) $ 780,000 273,000 117,000 31, 200 85,800 507,000 $ 273,000 71,050 42,150 10,450 7,700 33,900 165,250 $ 107,750 Actual Results (7,500 units) $ 766,550 277,600 114, 100 29,400 81,550 502,650 $ 263,900 71,050 43,400 10,450 7,700 31,000 163,600 $ 100,300
Transcribed Image Text:For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs Depreciation Machinery Supervisor salary Insurance Depreciation-Office equipment Administrative salaries Total fixed costs Income Fixed Budget Variable Amount per Unit $ 100 35 15 4 11 65 $35 Total Fixed Cost $ 71,050 42,150 10,450 7,700 33,900 $ 165,250 Fixed Budget (7,800 units) $ 780,000 273,000 117,000 31, 200 85,800 507,000 $ 273,000 71,050 42,150 10,450 7,700 33,900 165,250 $ 107,750 Actual Results (7,500 units) $ 766,550 277,600 114, 100 29,400 81,550 502,650 $ 263,900 71,050 43,400 10,450 7,700 31,000 163,600 $ 100,300
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