please answer without image, with detailed working Garbera Enterprises manufactures tires for the Formula I motor racing circuit. For August 2020, it budgeted to manufacture and sell 3,600 tires at a variable cost of$74 per tire and total fixed costs of $56,000. The budgeted selling price was $108 per tire. Actual results in August 2020 were 3,400 tires manufactured and sold atselling price of $111 per tire. The actual total variable costs were $275,400, and the actual total fixed costs were $51,500.Read the tequirementsUnits soldRevenuesVariable costsContribution marginFixed costsOperating incomeActualResults3,400$ 377,400275,400102,00051,500$ 50,500Flexible-BudgetVariancesUUUFFlexibleBudget

Flexible budget prepared for actual units. This budget is not static in nature and hence is apt for…

Manufactures tires for the Formula I motor racing circuit. For August 2020, it budgeted to manufacture and sell 3,600 tires at a variable co $74 per tire and total fixed costs of $56,000. The budgeted selling price was $108 per tire. Actual results in August 2020 were 3,400 tires manufactured and se selling price of $111 per tire. The actual total variable costs were $275,400, and the actual total fixed costs were $51,500. Read the equirements Units sold Revenues ariable costs contribution margin xed costs perating income $ Actual Results 3,400 377,400 275,400 102,000 51,500 $ 50,500 Flexible-Budget Variances 0 U U U F Flexible Budget COLOR

Manufactures tires for the Formula I motor racing circuit. For August 2020, it budgeted to manufacture and sell 3,600 tires at a variable co $74 per tire and total fixed costs of $56,000. The budgeted selling price was $108 per tire. Actual results in August 2020 were 3,400 tires manufactured and se selling price of $111 per tire. The actual total variable costs were $275,400, and the actual total fixed costs were $51,500. Read the equirements Units sold Revenues ariable costs contribution margin xed costs perating income $ Actual Results 3,400 377,400 275,400 102,000 51,500 $ 50,500 Flexible-Budget Variances 0 U U U F Flexible Budget COLOR

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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