Nappon Co. has two products named X and Y. The firm had the following master budget for the year just completed: Product Y Total Sales Variable Costs Contribution Margin Fixed costs Operating Income (Loss) $ Selling Price per unit $ Fixed costs Product X Sales Variable Costs Contribution Margin $ Units Sold $ $ . $7,875 favorable. . $55,000 unfavorable. . $27,000 favorable. Operating Income (Loss) $ . $45,000 unfavorable. $78 750 favorable $ 285,000 171,000 114,000 124,000 (10,000 ) The following actual operating results were reported after the year was over: Product X Product Y Total 100 366,000 237,900 128,100 140,000 (11,900 3,150 $ ) $ $ $ $ $ 370,000 240,500 129,500 102,000 $ 27,500 50 546,000 223,500 322,500 115,500 207,000 11,900 $ 655,000 411,500 $ 243,500 226,000 $ 17,500 The contribution margin sales volume variance for Product Y is: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $912,000 461,400 $ 450,600 255,500 $ 195,100
Nappon Co. has two products named X and Y. The firm had the following master budget for the year just completed: Product Y Total Sales Variable Costs Contribution Margin Fixed costs Operating Income (Loss) $ Selling Price per unit $ Fixed costs Product X Sales Variable Costs Contribution Margin $ Units Sold $ $ . $7,875 favorable. . $55,000 unfavorable. . $27,000 favorable. Operating Income (Loss) $ . $45,000 unfavorable. $78 750 favorable $ 285,000 171,000 114,000 124,000 (10,000 ) The following actual operating results were reported after the year was over: Product X Product Y Total 100 366,000 237,900 128,100 140,000 (11,900 3,150 $ ) $ $ $ $ $ 370,000 240,500 129,500 102,000 $ 27,500 50 546,000 223,500 322,500 115,500 207,000 11,900 $ 655,000 411,500 $ 243,500 226,000 $ 17,500 The contribution margin sales volume variance for Product Y is: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $912,000 461,400 $ 450,600 255,500 $ 195,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
Question
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Transcribed Image Text:Nappon Co. has two products named X and Y. The firm had the following master budget for the year just completed:
Product X
Product Y
Total
$
Sales
Variable Costs
Contribution Margin
Fixed costs
Operating Income (Loss) $
Selling Price per unit $
Sales
Variable Costs
Fixed costs
Units Sold
Contribution Margin $
$
.
$
Operating Income (Loss) $
.
.
$7,875 favorable.
$55,000 unfavorable.
$27,000 favorable.
$45,000 unfavorable.
Product X
. $78,750 favorable.
$
The following actual operating results were reported after the year was over:
Product Y
Total
285,000
171,000
114,000
124,000
(10,000)
100
366,000
237,900
128,100
140,000
(11,900
3,150
$
)
$
$
$
$
370,000
$
240,500
129,500
102,000
27,500
50
546,000
223,500
322,500
115,500
207,000
11,900
The contribution margin sales volume variance for Product Y is: (Round your intermediate calculations to 2 decimal
places.)
Multiple Choice
$ 655,000
411,500
$ 243,500
226,000
$ 17,500
$ 912,000
461,400
$ 450,600
255,500
$ 195,100
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