Homework Help is Here – Start Your Trial Now!
Business
Accounting
Fournier Fixtures produces a variety of manufactured items for the home and building industry. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs. Operating profits Sales revenue Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Fixed costs Manufacturing overhead Marketing $ $ $ Actual 8,033,200 2,663,800 241,000 1,232,800 882,000 5,019 600 3,013,600 Actual (based on actual orders for 422,800 units) $8,033,200 Required: Prepare a profit variance analysis for Fournier Fixtures Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. 1,659,000 587,200 2,663,800 241,000 1,232,800 882,000 $ 5,019,600 $3,013,600 1,659,000 587,200 399,000 $2,645,200 $368,400 Master Budget (based on budgeted orders for 377,500 units) $7,550,000 Manufacturing Variances 2,365,000 221,000 1,094,000 792,000 $4,472,000 $3,078,000 1,690,000 570,000 435,000 $ 2,695,000 $ 383,000 Fournier Fixtures Profit Variance Analysis Marketing and Administrative Variances ALBU Sales Price Variance Flexible Budget Sales Activity Variance Master Budget $ 7,550,000 2,365,000 221,000 1,094,000 792,000 $4,472,000 $ 3,078,000 1,690,000 570,000

Fournier Fixtures produces a variety of manufactured items for the home and building industry. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs. Operating profits Sales revenue Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Fixed costs Manufacturing overhead Marketing $ $ $ Actual 8,033,200 2,663,800 241,000 1,232,800 882,000 5,019 600 3,013,600 Actual (based on actual orders for 422,800 units) $8,033,200 Required: Prepare a profit variance analysis for Fournier Fixtures Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. 1,659,000 587,200 2,663,800 241,000 1,232,800 882,000 $ 5,019,600 $3,013,600 1,659,000 587,200 399,000 $2,645,200 $368,400 Master Budget (based on budgeted orders for 377,500 units) $7,550,000 Manufacturing Variances 2,365,000 221,000 1,094,000 792,000 $4,472,000 $3,078,000 1,690,000 570,000 435,000 $ 2,695,000 $ 383,000 Fournier Fixtures Profit Variance Analysis Marketing and Administrative Variances ALBU Sales Price Variance Flexible Budget Sales Activity Variance Master Budget $ 7,550,000 2,365,000 221,000 1,094,000 792,000 $4,472,000 $ 3,078,000 1,690,000 570,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Alpesh 

Fournier Fixtures produces a variety of manufactured items for the home and building industry. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs Operating profits Sales revenue Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Fixed costs Manufacturing overhead Marketing $ $ $ Actual 8,033,200 Required: Prepare a profit variance analysis for Fournier Fixtures Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. 2,663,800 241,000 1,232,800 882,000 5,019,600 3,013,600 Actual (based on actual orders for 422,800 units) $ 8,033,200 1,659,000 587,200 2,663,800 241,000 1,232,800 882,000 $5,019,600 $3,013,600 1,659,000 587,200 399,000 $ 2,645,200 $368,400 Master Budget (based on budgeted orders for 377,500 units) $ 7,550,000 Manufacturing Variances 2,365,000 221,000 1,094,000 792,000 $ 4,472,000 $3,078,000 H 1,690,000 570,000 435,000 $ 2,695,000 $ 383,000 Fournier Fixtures Profit Variance Analysis Marketing and Administrative Variances MODE Sales Price Variance INFATI Flexible Budget Sales Activity Variance Master Budget $ 7,550,000 2,365,000 221,000 1,094,000 792,000 $4,472,000 $ 3,078,000 1,690,000 570,000 435.000
Transcribed Image Text:Fournier Fixtures produces a variety of manufactured items for the home and building industry. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs Operating profits Sales revenue Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Fixed costs Manufacturing overhead Marketing $ $ $ Actual 8,033,200 Required: Prepare a profit variance analysis for Fournier Fixtures Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. 2,663,800 241,000 1,232,800 882,000 5,019,600 3,013,600 Actual (based on actual orders for 422,800 units) $ 8,033,200 1,659,000 587,200 2,663,800 241,000 1,232,800 882,000 $5,019,600 $3,013,600 1,659,000 587,200 399,000 $ 2,645,200 $368,400 Master Budget (based on budgeted orders for 377,500 units) $ 7,550,000 Manufacturing Variances 2,365,000 221,000 1,094,000 792,000 $ 4,472,000 $3,078,000 H 1,690,000 570,000 435,000 $ 2,695,000 $ 383,000 Fournier Fixtures Profit Variance Analysis Marketing and Administrative Variances MODE Sales Price Variance INFATI Flexible Budget Sales Activity Variance Master Budget $ 7,550,000 2,365,000 221,000 1,094,000 792,000 $4,472,000 $ 3,078,000 1,690,000 570,000 435.000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS