Homework i 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 actual orders for 414,400 units) $ 7,873,600 2,646,400 238,000 1,218,400 876,000 $ 4,978,800 $ 2,894,800 1,632,000 556,600 372,000 $ 2,560,600 $ 334,200 for 370,000 units) $ 7,400,000 2,350,000 218,000 1,082,000 786,000 $ 4,436,000 $2,964,000 1,660,000 540,000 405,000 $ 2,605,000 $ 359,000 es Required: Prepare a profit variance analysis for Fournier Fixtures Saved 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. Actual Manufacturing Fournier Fixtures Profit Variance Analysis Variances Sales revenue Variable costs: Materials $ 7,873,600 Direct labor 2,646,400 $ 238,000 14,400 U 6,160 F Variable overhead 1,218,400 6,560 U Variable marketing and administrative 876,000 $ 4,320 F Total variable costs $ 4,978,800 Contribution margin 2,894,800 2 Fixed costs: Manufacturing overhead Marketing Administrative Total fixed costs Operating profits 1,632,000 28,000 F Marketing and Administrative Sales Price Variance Flexible Budget Sales Activity Variance Variances Master Budget $ 8,288,000 s 888,000 F $ 7,400,000 2,632,000 244,160 282,000 U 2,350,000 26,160 U 1,211,840 129,840 U 218,000 1,082,000 880,320 94,320 U 786,000 $ 4,968,320 $ 2 $ 3,319,680 $ 532,320 U 355,680 F $ 4,436,000 $ 2,964,000 1,660,000 556,600 16,600 U 540,000 372,000 33,000 F 405,000 2,560,600 $ 28,000 F $ 16,400 F $ 2,605,000 1,660,000 540,000 405,000 $ 2,605,000 $ 334,200 บ $ 714,680 $ 355,680 $ 359,000
Homework i 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 actual orders for 414,400 units) $ 7,873,600 2,646,400 238,000 1,218,400 876,000 $ 4,978,800 $ 2,894,800 1,632,000 556,600 372,000 $ 2,560,600 $ 334,200 for 370,000 units) $ 7,400,000 2,350,000 218,000 1,082,000 786,000 $ 4,436,000 $2,964,000 1,660,000 540,000 405,000 $ 2,605,000 $ 359,000 es Required: Prepare a profit variance analysis for Fournier Fixtures Saved 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. Actual Manufacturing Fournier Fixtures Profit Variance Analysis Variances Sales revenue Variable costs: Materials $ 7,873,600 Direct labor 2,646,400 $ 238,000 14,400 U 6,160 F Variable overhead 1,218,400 6,560 U Variable marketing and administrative 876,000 $ 4,320 F Total variable costs $ 4,978,800 Contribution margin 2,894,800 2 Fixed costs: Manufacturing overhead Marketing Administrative Total fixed costs Operating profits 1,632,000 28,000 F Marketing and Administrative Sales Price Variance Flexible Budget Sales Activity Variance Variances Master Budget $ 8,288,000 s 888,000 F $ 7,400,000 2,632,000 244,160 282,000 U 2,350,000 26,160 U 1,211,840 129,840 U 218,000 1,082,000 880,320 94,320 U 786,000 $ 4,968,320 $ 2 $ 3,319,680 $ 532,320 U 355,680 F $ 4,436,000 $ 2,964,000 1,660,000 556,600 16,600 U 540,000 372,000 33,000 F 405,000 2,560,600 $ 28,000 F $ 16,400 F $ 2,605,000 1,660,000 540,000 405,000 $ 2,605,000 $ 334,200 บ $ 714,680 $ 355,680 $ 359,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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Transcribed Image Text:Homework i
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
actual orders for
414,400 units)
$ 7,873,600
2,646,400
238,000
1,218,400
876,000
$ 4,978,800
$ 2,894,800
1,632,000
556,600
372,000
$ 2,560,600
$ 334,200
for 370,000
units)
$ 7,400,000
2,350,000
218,000
1,082,000
786,000
$ 4,436,000
$2,964,000
1,660,000
540,000
405,000
$ 2,605,000
$ 359,000
es
Required:
Prepare a profit variance analysis for Fournier Fixtures
Saved
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.
Actual
Manufacturing
Fournier Fixtures
Profit Variance Analysis
Variances
Sales revenue
Variable costs:
Materials
$
7,873,600
Direct labor
2,646,400 $
238,000
14,400 U
6,160 F
Variable overhead
1,218,400
6,560 U
Variable marketing and administrative
876,000
$
4,320 F
Total variable costs
$
4,978,800
Contribution margin
2,894,800
2
Fixed costs:
Manufacturing overhead
Marketing
Administrative
Total fixed costs
Operating profits
1,632,000
28,000 F
Marketing and
Administrative
Sales Price Variance
Flexible
Budget
Sales Activity Variance
Variances
Master
Budget
$ 8,288,000 s
888,000 F
$ 7,400,000
2,632,000
244,160
282,000 U
2,350,000
26,160 U
1,211,840
129,840 U
218,000
1,082,000
880,320
94,320 U
786,000
$ 4,968,320 $
2
$ 3,319,680 $
532,320 U
355,680 F
$ 4,436,000
$ 2,964,000
1,660,000
556,600
16,600 U
540,000
372,000
33,000 F
405,000
2,560,600 $
28,000 F
$
16,400 F
$ 2,605,000
1,660,000
540,000
405,000
$ 2,605,000
$
334,200
บ
$
714,680 $
355,680
$ 359,000
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