op managers of Rouse Industries predicted 2025 sales of 14,900 units of its product at a unit price of $10.00. Actual sales for the year were 14.000 units at $13 00 each Variable costs were budgeted at $3 60 per unit, and actual variable costs were $3.70 per unit. Actual costs of $49,000 exceeded budgeted fixed costs by $2,500 Prepare Rouse Industries' flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance? Prepare a flexible budget performance report for the year. First, complete the flexible budget performance report through the contribution margin line, then complete the report through the operating income line. Finally, compute the total variances (Enter a 0 for any zero balances Label the variance as favorable (F) or unfavorable (U), in the input field after the amount you enter For any 50 variances, leave the Favorable (FYUnfavorable (U) input field blank) Units Sales Revenue Variable Costs Contribution Margin Budget Amounts Per Unit Rouse Industries Flexible Budget Performance Report For the Year Ended December 31, 2025 3 Actual Results 2 (1)-(3) Flexible Budget Variance Flexible Budget 4 (3)-(5) Sales Volume Variance 5 CODED Static Budget

op managers of Rouse Industries predicted 2025 sales of 14,900 units of its product at a unit price of $10.00. Actual sales for the year were 14.000 units at $13 00 each Variable costs were budgeted at $3 60 per unit, and actual variable costs were $3.70 per unit. Actual costs of $49,000 exceeded budgeted fixed costs by $2,500 Prepare Rouse Industries' flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance? Prepare a flexible budget performance report for the year. First, complete the flexible budget performance report through the contribution margin line, then complete the report through the operating income line. Finally, compute the total variances (Enter a 0 for any zero balances Label the variance as favorable (F) or unfavorable (U), in the input field after the amount you enter For any 50 variances, leave the Favorable (FYUnfavorable (U) input field blank) Units Sales Revenue Variable Costs Contribution Margin Budget Amounts Per Unit Rouse Industries Flexible Budget Performance Report For the Year Ended December 31, 2025 3 Actual Results 2 (1)-(3) Flexible Budget Variance Flexible Budget 4 (3)-(5) Sales Volume Variance 5 CODED Static Budget

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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Required Information [The following information applies to the questions displayed below.] The fixed budget for 21,300 units of production shows sales of $489,900; variable costs of $63,900; and fixed costs of $144,000. The company's actual sales were 27,300 units at $580,900. Actual variable costs were $113,400 and actual fixed costs were $138,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable
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Sunshine Goods Ltd is a revenue maximizing firm that engages in the analysis of variances to provide useful information to management. The company manufactures and sells three (3) products, RG, KC and MG. During July 2019 the following budgeted and actual results were presented to you the management accountant for analysis: Budgeted Results Product Total Sales $ Volume/units Price $ Contribution margin per unit $ Total contribution margin $ RG 585,000 900 650 820 738,000 KC 500,000 500 1,000 850 425,000 MG 300,000 600 500 720 432,000 Total 2,000 1,595,000 Actual Results Product Total Sales $ Volume/units Price $ Contribution margin per unit $ Total contribution margin $ RG 500,000 500 1,000 800 400,000 KC 270,000 300 900 `900 270,000 MG 105,000 350 300 700 245,000 Total 1,150 915,000 Required: Sales margin quantity…
Sunshine Goods Ltd is a revenue maximizing firm that engages in the analysis of variances to provide useful information to management. The company manufactures and sells three (3) products, RG, KC and MG. During July 2019 the following budgeted and actual results were presented to you the management accountant for analysis: Budgeted Results Product Total Sales $ Volume/units Price $ Contribution margin per unit $ Total contribution margin $ RG 585,000 900 650 820 738,000 KC 500,000 500 1,000 850 425,000 MG 300,000 600 500 720 432,000 Total 2,000 1,595,000 Actual Results Product Total Sales $ Volume/units Price $ Contribution margin per unit $ Total contribution margin $ RG 500,000 500 1,000 800 400,000 KC 270,000 300 900 `900 270,000 MG 105,000 350 300 700 245,000 Total 1,150 915,000 Required: Sales margin price…
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Required information [The following information applies to the questions displayed below.] The fixed budget for 21,600 units of production shows sales of $583,200; variable costs of $64,800; and fixed costs of $143,000. The company's actual sales were 26,900 units at $679,300. Actual variable costs were $113,300 and actual fixed costs were $132,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Sales Variable costs Contribution margin Fixed costs Income X Answer is complete but not entirely correct. Flexible Budget Performance Report Flexible Actual Budget Results $ $ 645,600 80,700 564,900 143,000 421,900 Variances $ 679,300 $ (33,700) 113,300 (32,600) 566,000 (63,500) 132,000 11,000 $ 434,000 $ (12,100) Favorable/ Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable
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