Please don't give image format and fast answering Data tableGavin, Inc.Flexible Budget Performance Report (partial)For the Month Ended April 30, 2024Flexible BudgetVarianceUnitsSales RevenueVariable CostsContribution MarginFixed CostsOperating IncomeActualResults4,00072,00051,50020,50015,5005,000(a)(b)(d)(1)(h)()(C) $UO(e)(g)(1)(k) $FlexibleBudget4,00064,00049,90014,10014,600(500)4,000 KComplete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 4,000 travel locks for Gavin, Inc.(Click the icon to view the report.)(For variances with a $0 value, make sure to enter "0" in the appropriate cells.)Gavin, Inc.Flexible Budget Performance Report (partial)For the Month Ended April 30, 2024UnitsSales RevenueVariable CostsContribution MarginFixed CostsOperating Income$ActualResults4,00072,00051,50020,50015,5005,000Flexible BudgetVariance$FlexibleBudget4,00064,00049,90014,10014,000(500)

The flexible budget performance report is prepared to compare the actual results and flexible budget…

(For variances with a $0 value, make sure to enter "0" in the appropriate cells.) Gavin, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2024 Flexible Budget Units Sales Revenue Variable Costs Contribution Margin Fixed Costs S Actual Results 4,000 72,000 51,500 20,500 15,500 5,000 Variance $ Flexible Budget 4,000 64,000 49,900 14,100 14,000 (500)

(For variances with a $0 value, make sure to enter "0" in the appropriate cells.) Gavin, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2024 Flexible Budget Units Sales Revenue Variable Costs Contribution Margin Fixed Costs S Actual Results 4,000 72,000 51,500 20,500 15,500 5,000 Variance $ Flexible Budget 4,000 64,000 49,900 14,100 14,000 (500)

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter23: Flexible Budgeting (flexbud)

Section: Chapter Questions

Problem 5R

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Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Results Flexible Budget Planning Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,450 ? $ 8,400 What is the spending variance for wages and salaries expense? Multiple Choice $176 U $126 F $176 F $126 U
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Assume that a company provided the following excerpts of information from its flexible budget performance report: Flexible Planning Actual Results Budget 52 Flights (q) Expenses: Wages and salaries ($4,000+ $88.00g) What is the activity variance for wages and salaries expense? Multiple Choice O $176 U $176 F $66 F $66 U $ 8,510 Budget ? ? ? $ 8,400
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Bridgeport Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities Budgeted fixed overhead costs per month are Supervision $3,440, Depreciation $1,032, and property Taxes $688. The company believes it will normally operate in a range of 6,020-8,600 direct labor hours per month. Assume that in July 2022, Bridgeport Company incurs the following manufacturing overhead costs. $1.00 0.70 0.40 Variable Costs Indirect labor Indirect materials Utilities. $7,568 4,988 2,752 Fixed Costs Supervision Depreciation Property taxes $3,440 1,032 688 (a) Prepare a flexible budget performance report, assuming that the company worked 7,740 direct labor hours during the month. (List variable costs before fixed costs.)
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