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Nottingham Forest Products reports the following information concerning operations for the most recent month: Master Budget (based on budgeted sales of 4,075 units) $191,525 Sales revenue Less Manufacturing costs Direct labor Materials. Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits There are no inventories. Actual (based on actual sales of 4,890 units) $233,200 50,332 31,550 16,638 7,835 7,245 $ 113,600 $ 119,600 38,975 14,890 9,555 $ 63,420 $ 56,180 39,030 27,230 13,130 6,230 6,530 $ 92,150 $ 99,375 37,430 12,230 10,430 $ 60,090 $ 39,28 Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations Indic

Nottingham Forest Products reports the following information concerning operations for the most recent month: Master Budget (based on budgeted sales of 4,075 units) $191,525 Sales revenue Less Manufacturing costs Direct labor Materials. Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits There are no inventories. Actual (based on actual sales of 4,890 units) $233,200 50,332 31,550 16,638 7,835 7,245 $ 113,600 $ 119,600 38,975 14,890 9,555 $ 63,420 $ 56,180 39,030 27,230 13,130 6,230 6,530 $ 92,150 $ 99,375 37,430 12,230 10,430 $ 60,090 $ 39,28 Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations Indic

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Nottingham Forest Products reports the following information concerning operations for the most recent month: Master Budget Actual (based (based on on actual sales budgeted sales of 4,890 units) of 4,075 units) Sales revenue $ 233,200 $ 191,525 Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin 50,332 31,550 16,638 7,835 7,245 $ 113,600 $ 119,600 39,030 27,230 13,130 6,230 6,530 $ 92,150 $ 99,375 Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits 38,975 14,890 9,555 $ 63,420 $ 56,180 37,430 12,230 10,430 $ 60,090 $ 39,285 There are no inventories. Required: Prepare a sales activity variance analysis for Nottingham Forest Products Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.
Nottingham Forest Products reports the following information concerning operations for the most recent month: Master Budget (based on budgeted sales of 4,075 units) $191,525 Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits There are no inventories. Actual (based on actual sales of 4,890 units) $ 233,200 50,332 31,550 16,638 7,835 7,245 $ 113,600 $ 119,600 38,975 14,890 9,555 $63,420 $ 56,180 39,030 27,230 13,130 6,230 6,530 $92,150 $ 99,375 37,430 12,230 10,430 $ 60,090 $ 39,285 Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.
Transcribed Image Text:Nottingham Forest Products reports the following information concerning operations for the most recent month: Master Budget (based on budgeted sales of 4,075 units) $191,525 Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits There are no inventories. Actual (based on actual sales of 4,890 units) $ 233,200 50,332 31,550 16,638 7,835 7,245 $ 113,600 $ 119,600 38,975 14,890 9,555 $63,420 $ 56,180 39,030 27,230 13,130 6,230 6,530 $92,150 $ 99,375 37,430 12,230 10,430 $ 60,090 $ 39,285 Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.
Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales revenue Variable costs: Manufacturing costs: Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs: Manufacturing Marketing Administrative Total fixed costs Operating profits NOTTINGHAM FOREST PRODUCTS Sales Activity Variance Flexible Budget (based on actual of 4,890 units) $ $ $ $ 0 0 0 0 Master Budget (based on Sales Activity Variance budgeted 4,075 units) $ 55 $ $ $ 191,525 39,030 27,230 13,130 6,230 6,530 92,150 99,375 37,430 12,230 10,430 60,090 39,285
Transcribed Image Text:Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales revenue Variable costs: Manufacturing costs: Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs: Manufacturing Marketing Administrative Total fixed costs Operating profits NOTTINGHAM FOREST PRODUCTS Sales Activity Variance Flexible Budget (based on actual of 4,890 units) $ $ $ $ 0 0 0 0 Master Budget (based on Sales Activity Variance budgeted 4,075 units) $ 55 $ $ $ 191,525 39,030 27,230 13,130 6,230 6,530 92,150 99,375 37,430 12,230 10,430 60,090 39,285
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