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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The master budget at Monroe Manufacturing last period called for sales of 42,300 units at $45 each. The costs were estimated to be $29 variable per unit and $527,000 fixed. During the period, actual production and actual sales were 45,300 units. The selling price was $44 per unit. Variable costs were $31 per unit. Actual fixed costs were $518,000. Required: Prepare a profit variance analysis. Note: 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. Monroe Manufacturing Profit Variance Analysis Actual Manufacturing Variances Sales Price Variance Flexible Budget Sales Activity Variance Master Budget Sales revenue Less: Variable costs Contribution margin $ 0 $ 0 $ 0 Less: Fixed costs Operating profits $ 0 $ 0 $ 0…
Matthew works in the accounting department of a local footwear manufacturer that specializes in clogs and boots. Clogs and boots typically sell for $97 and $192 per pair, respectively. Based on past experience, fashion trends, and seasonal shifts, the company expected to sell 760 pairs of clogs and 240 pairs of boots. The variable cost per pair was $52 for clogs and $78 for boots. At the end of the year, Matthew evaluated the company's sales and contribution margin amounts against the budget. Actual results for the year were as follows. . . . (a) Actual sales volume: clogs, 869; boots, 231. Actual selling price: clogs, $108 per pair; boots, $181 per pair. Actual per-unit variable costs for each product were the same as budgeted. Your answer is correct.
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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
Lincoln Corporation used the following data to evaluate their current operating system. The company sells items for $12 each and used a budgeted selling price of $12 per unit. Actual Budgeted Units sold 42,000 units 36,000 units Variable costs $168,000 $151,000 $58,000 Fixed costs $45,000 What is the static-budget variance of revenues? O A. $72,000 unfavorable OB. $6,000 unfavorable O C. $72,000 favorable O D. $4,000 favorable O Time Re esc
which of the following is not a COVID-19 tax relief provision available to a self-employed taxpayers?
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