What is the answer? ISHAN Shop sells a variety of magic Toys. In a recent month, it's accountinginformation system revealed the following information:UnitsSales revenueBudget Actual2,200 3,300$11,100 $13,600Variable product costs1,200 2,000Fixed manufacturing costs800700Variable selling costs1,5001,400600Fixed nonmanufacturing costs 500Calculate the following variances:i. Revenue budget variance.ii. Sales price variance.

i.Revenue Budget Variance = Actual Sales Revenue - Budgeted Revenue variance…

Answered: ISHAN Shop sells a variety of magic…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 22E

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Given the following information, calculate the purchasing department's efficiency variance. Standard number of transaction per day Standard labor cost per day Actual number of days for processing transactions Actual number of transactions processed Actual labor cost per day Multiple choice question. $2,400 favorable $4,400 favorable $4,400 unfavorable $2,400 unfavorable 20 $200 120 1,960 $180
PLEASE ANSWER THE FOLLOWING QUESTIONS: Requirements 1. Compute the total sales-volume variance, the total sales-mix variance, and the total sales-quantity variance. (Calculate all variances in terms of contribution margin.) Show results for each product in your computations. 2. What inferences can you draw from the variances computed in requirement 1? Data table Budget for 2020 Selling Variable Cost Cartons Product Price per Carton Sold Kostor $11.00 $ Limba $ 23.00 $ 6.40 16.15 Actual for 2020 Selling Variable Cost Cartons Price per Carton Sold 7.40 138,600 16.35 59,400 132,000 $11.60 S 88,000 $ 24.40 $
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- Flexible and Actual Units (pounds) are given belowCalculate revenue and spending variances for AugustGiven: Revenue 4per poundOn OwnPacking Supplies0.5per poundOyster Bed Maintenance3200flatWages & Salaries2900flat plus0.3 per poundShipping0.8per pound Utilities830flat Other450flat plus0.05per poundFlexible Budget & Actual Results for the Month Ending May 31 ActualFlexibleRev & Spend'gPounds (Q)8, 0008,000Variances(actual flexible) Revenue 35,200 Expenses: Packing Supplies4, 200 Oyster Bed Maintenance3, 100 Wages & Salaries5, 640 Shipping6, 950 Utilities 810 Other980 Total Expenses21, 680 Net Operating Income13, 520 Flexible and Actual Units (pounds) are given below Given: Calculate revenue and spending variances for August Revenue Packing Supplies Oyster Bed Maintenance 4 per pound 0.5 per pound 3200 flat Wages & Salaries 2900 flat-plus 0.3 per pound Shipping Utilities Other 0.8 per pound 830 flat 450 flat-plus 0.05 per pound Flexible Budget & Actual Results for the Month Ending May…
Oriole Industries has the following actual and master budget information for its two product lines: Volume in Units Unit Contribution Margin Sales quantity variance Gadgets Sales quantity variance Gizmos Actual Results Total sales quantity variance Gadgets Gizmos 1,150 1,870 $6 $9 Compute the Sales Quantity Variances for the Gadgets, Gizmos, and in Total. (Round intermediate calculations to 4 decimal places, eg. 2.3337 and final answers to O decimal places, e.g. 2,555.) $ $ tA Master Budget $ Gadgets 1,350 $5 Gizmos 1,770 $10 >
Prepare an income statement through gross profit for Bellingham Company for the month ending March 31. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank: Income statement with variances The following data is provided for Bellingham Company: DATA Standard pounds per unit 2.5 Standard price per pound $3.90 Actual quantity of pounds used 34,000 Units produced (sold) 19,000 Actual price per pound $4.15 Standard direct labor hours per unit 3.0 Standard hourly rate $19.55 Actual labor hours used 63,200 Actual hourly rate $19.40 Standard variable overhead cost per unit per direct labor hour $0.80 Actual variable factory overhead $36,790 Standard fixed overhead cost per unit per direct labor hour $1.05 Practical capacity 45,000 Selling price $168 Please avoid solution in handwritten thank you
ces W Actual pounds (q) Revenue ($4.10g) For the Month Ended August 31 Quilcene Oysteria Flexible Budget Expenses: Packing supplies ($0.30q) Oyster bed maintenance ($3,000) Wages and salaries ($2,400 + $0.30q) Shipping ($0.60q) Utilities ($1,270) Other ($470 + $0.019) Total expense Net operating income The actual results for August appear below: Quilcene Oysteria Income Statement For the Month Ended August 31 Actual pounds Revenue Expenses: Packing supplies Oyster bed maintenance Wages and salaries. Shipping Utilities Other Total expense Net operating income 7,200 $ 27,100 2,330 2,860 4,970 4,050 1,080 1,162 16,452 $ 10,648

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