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ing price of $26 per case. The following information relates to the budget for Main Street Main Street Muffins sells its muffins to restaurants and coffee houses for an average sell- Muffins for this year (all figures are annual totals unless otherwise noted): E10-26A Prepare a flexible budget performance report (Learning Objective 5) Performance Evaluation Budgeted sales in cases Packaging cost per case. 9,100 cases %24 Shipping expense per case Sales commission expense. 2 5% of sales price Salaries expense.. $6,500 Office rent $3,900 Depreciation.. $2,500 Insurance expense. $1,800 Office supplies expense $ 900 During the year, Main Street Muffins actually sold 9,500 cases, resulting in total sales rev- enue of $255,200. Actual expenses (in total) from this year are as follows: $ 10,600 $ 19,500 $ 12,760 $ 7,300 Packaging cost. Shipping expense.. Sales commission expense. Salaries expense..... $ 3,900 Office rent.. *

ing price of $26 per case. The following information relates to the budget for Main Street Main Street Muffins sells its muffins to restaurants and coffee houses for an average sell- Muffins for this year (all figures are annual totals unless otherwise noted): E10-26A Prepare a flexible budget performance report (Learning Objective 5) Performance Evaluation Budgeted sales in cases Packaging cost per case. 9,100 cases %24 Shipping expense per case Sales commission expense. 2 5% of sales price Salaries expense.. $6,500 Office rent $3,900 Depreciation.. $2,500 Insurance expense. $1,800 Office supplies expense $ 900 During the year, Main Street Muffins actually sold 9,500 cases, resulting in total sales rev- enue of $255,200. Actual expenses (in total) from this year are as follows: $ 10,600 $ 19,500 $ 12,760 $ 7,300 Packaging cost. Shipping expense.. Sales commission expense. Salaries expense..... $ 3,900 Office rent.. *

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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ing price of $26 per case. The following information relates to the budget for Main Street a flexible budget performance report (Learning Objective 5) Main Street Muffins sells its muffins to restaurants and coffee houses for an average sell- Muffins for this year (all figures are annual totals unless otherwise noted): Performance Evaluation 629 E10-26A Prepare Budgeted sales in cases 9,100 cases Packaging cost per case. %24 Shipping expense per case Sales commission expense. 2 5% of sales price Salaries expense.. $6,500 Office rent $3,900 Depreciation. $2,500 Insurance expense... $1,800 $ 900 Office supplies expense. During the year, Main Street Muffins actually sold 9,500 cases, resulting in total sales rev- enue of $255,200. Actual expenses (in total) from this year are as follows: Packaging cost. $ 10,600 $ 19,500 $ 12,760 $ 7,300 Shipping expense.. Sales commission expense. Salaries expense... $ 3,900 $ 2,500 $ 1,600 Office rent Depreciation. Insurance expense.. $ 1,600 Office supplies expense. Requirement Construct a flexible budget performance report for Main Street Muffins for the year. Be ure to indicate whether each variance is favorable (F) or unfavorable (U). luer (loarning Obiective 5) CHAPTER 10
Transcribed Image Text:ing price of $26 per case. The following information relates to the budget for Main Street a flexible budget performance report (Learning Objective 5) Main Street Muffins sells its muffins to restaurants and coffee houses for an average sell- Muffins for this year (all figures are annual totals unless otherwise noted): Performance Evaluation 629 E10-26A Prepare Budgeted sales in cases 9,100 cases Packaging cost per case. %24 Shipping expense per case Sales commission expense. 2 5% of sales price Salaries expense.. $6,500 Office rent $3,900 Depreciation. $2,500 Insurance expense... $1,800 $ 900 Office supplies expense. During the year, Main Street Muffins actually sold 9,500 cases, resulting in total sales rev- enue of $255,200. Actual expenses (in total) from this year are as follows: Packaging cost. $ 10,600 $ 19,500 $ 12,760 $ 7,300 Shipping expense.. Sales commission expense. Salaries expense... $ 3,900 $ 2,500 $ 1,600 Office rent Depreciation. Insurance expense.. $ 1,600 Office supplies expense. Requirement Construct a flexible budget performance report for Main Street Muffins for the year. Be ure to indicate whether each variance is favorable (F) or unfavorable (U). luer (loarning Obiective 5) CHAPTER 10
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