Janco Industries has a relevant range extending to 30,200 units each month. The following performance report provides information about Janco's budget and actual performance for June. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Output units Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income Data table 1 2 3 A Janco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget Flexible Budget 5 Output units 6 Sales revenue Actual 24,000 $ 226,000 $ 163.200 62800 7 Less: Variable expenses 8 Contribution margin 9 Less: Fixed expenses 10 Operating income 18,500 44300 B Actual C Janco Industries 24,000 $ 226,000 163,200 ? variance 18,500 ? 5,200 F U U F U Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget Flexible variance Budget ? D $5,200 F ? ? ? ? 24000 ? ? ? ? ? 220800 E Volume Master Variance Budget ? ? ? ? ? Volume Variance $ 30,200 ? 193,280 ? 22.500 ? C Master Budget $ 30,200 193,280 22,500
Janco Industries has a relevant range extending to 30,200 units each month. The following performance report provides information about Janco's budget and actual performance for June. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Output units Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income Data table 1 2 3 A Janco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget Flexible Budget 5 Output units 6 Sales revenue Actual 24,000 $ 226,000 $ 163.200 62800 7 Less: Variable expenses 8 Contribution margin 9 Less: Fixed expenses 10 Operating income 18,500 44300 B Actual C Janco Industries 24,000 $ 226,000 163,200 ? variance 18,500 ? 5,200 F U U F U Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget Flexible variance Budget ? D $5,200 F ? ? ? ? 24000 ? ? ? ? ? 220800 E Volume Master Variance Budget ? ? ? ? ? Volume Variance $ 30,200 ? 193,280 ? 22.500 ? C Master Budget $ 30,200 193,280 22,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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Transcribed Image Text:Janco Industries has a relevant range extending to 30,200 units each month. The following performance report provides information about Janco's budget and actual performance for June.
(Click the icon to view the performance report.)
Requirement
Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or
unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.)
Output units
Sales revenue
Less: Variable expenses
Contribution margin
Less: Fixed expenses
Operating income
Data table
1
2
3
4
A
Janco Industries
Flexible Budget Performance Report: Sales and Operating Expenses
For the Month Ended June 30
Flexible budget
$
Actual
5 Output units
6 Sales revenue
7 Less: Variable expenses
8 Contribution margin
9 Less: Fixed expenses
10 Operating income
24,000
226,000 $
163,200
62800
18,500
44300
B
variance
C
Janco Industries
Actual
5,200 F
U
U
F
U
24,000
$ 226,000
163,200
?
18,500
?
$5,200 F
?
D
Flexible Budget Performance Report: Sales and Operating Expenses
For the Month Ended June 30
Flexible
budget
variance
?
?
?
?
?
?
Flexible
Budget
?
24000
?
220800
E
Flexible Volume Master
Budget Variance Budget
?
?
?
?
?
?
Volume
Variance
$
F
30,200
?
193,280
?
22,500
?
Master Budget
30,200
$
193,280
22,500
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