James Manufacturing has the following information available for July: Flexible Sales Actual Budget Flexible Activity Master Results Variance Budget Variance Budget Units 15,000 2,000U Sales revenue ? $16,000F Less: Variable manufacturing $92,750 $104,000 $145,000 costs Variable marketing and $ 2,750U $3,500F $ 50,000 administrative Contribution margin $69,000 $৪, 00ou What was James's actual sales revenue for July?

James Manufacturing has the following information available for July: Flexible Sales Actual Budget Flexible Activity Master Results Variance Budget Variance Budget Units 15,000 2,000U Sales revenue ? $16,000F Less: Variable manufacturing $92,750 $104,000 $145,000 costs Variable marketing and $ 2,750U $3,500F $ 50,000 administrative Contribution margin $69,000 $৪, 00ou What was James's actual sales revenue for July?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

1 Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Sales (units produced and sold) Sales (in dollars) Variable costs Fixed costs Fixed Budget 1,350 Actual Results 1,550 $ 1,050 per unit $ 420 per unit $ 1,678,000 $ 652,000 $ 147,500 $ 137,000 For Month Ended May 31 Sales Variable costs Contribution margin Fixed costs Income LEWIS COMPANY Flexible Budget Performance Report Flexible Budget Actual Results (1,550 units) (1,550 units) Variances Favorable/Unfavorable
Matthew works in the accounting department of a local footwear manufacturer that specializes in clogs and boots. Clogs and boots typically sell for $97 and $192 per pair, respectively. Based on past experience, fashion trends, and seasonal shifts, the company expected to sell 760 pairs of clogs and 240 pairs of boots. The variable cost per pair was $52 for clogs and $78 for boots. At the end of the year, Matthew evaluated the company's sales and contribution margin amounts against the budget. Actual results for the year were as follows. . . . (a) Actual sales volume: clogs, 869; boots, 231. Actual selling price: clogs, $108 per pair; boots, $181 per pair. Actual per-unit variable costs for each product were the same as budgeted. Your answer is correct.
None
Lincoln Corporation used the following data to evaluate their current operating system. The company sells items for $12 each and used a budgeted selling price of $12 per unit. Actual Budgeted Units sold 42,000 units 36,000 units Variable costs $168,000 $151,000 $58,000 Fixed costs $45,000 What is the static-budget variance of revenues? O A. $72,000 unfavorable OB. $6,000 unfavorable O C. $72,000 favorable O D. $4,000 favorable O Time Re esc
Coroid Corporation used the following data to evaluate their current operating system. The company sells items for $16 each and had used a budgeted selling price of $17 per unit. Actual 290,000 units 273,000 units $960,000 $61,000 Budgeted Units sold Vanable costs $889,000 $45,000 Fixed costs What is the static-budget variance of variable costs? O $61,000 favorable O $61,000 unfavorable O $77,000 favorable O $77,000 unfavorable