our friend who is studying marketing has been learning about flexing a budget based on the figures below; Budgeted Units: 1245 Actual Units: 1300 Budgeted Actual Sales Value 12,450 14,300 Variable Costs 4,980 5,850 Fixed Costs 2,490 2,100 Profit 4,980 6,350 Your friend is aware that they need to flex the budget but they are not sure how to do it; Help your friend to complete the flexed budget below; Budgeted Flexed Actual Variance Favourable or Adverse Sales Value (£) Answer 2 Answer 6 Answer 10 Answer 14 Answer 1Choose...FavourableAdverse Variable Costs Answer 3 Answer 7 Answer 11 Answer 15 Answer 1Choose...FavourableAdverse Fixed Costs Answer 4 Answer 8 Answer 12 Answer 16 Answer 1Choose...FavourableAdverse Profit Answer 5 Answer 9 Answer 13 Answer 17 Answer 1Choose...FavourableAdverse show all numbers to the nearest whole number with no £ sign for example; 1 or 20 or 4000 if a number if negative show the negative sign e.g -20 or -400 show the variable costs and fixed costs as negative values Please answer it correctly with all working such as explanation , computation , formulation thanks
our friend who is studying marketing has been learning about flexing a budget based on the figures below; Budgeted Units: 1245 Actual Units: 1300 Budgeted Actual Sales Value 12,450 14,300 Variable Costs 4,980 5,850 Fixed Costs 2,490 2,100 Profit 4,980 6,350 Your friend is aware that they need to flex the budget but they are not sure how to do it; Help your friend to complete the flexed budget below; Budgeted Flexed Actual Variance Favourable or Adverse Sales Value (£) Answer 2 Answer 6 Answer 10 Answer 14 Answer 1Choose...FavourableAdverse Variable Costs Answer 3 Answer 7 Answer 11 Answer 15 Answer 1Choose...FavourableAdverse Fixed Costs Answer 4 Answer 8 Answer 12 Answer 16 Answer 1Choose...FavourableAdverse Profit Answer 5 Answer 9 Answer 13 Answer 17 Answer 1Choose...FavourableAdverse show all numbers to the nearest whole number with no £ sign for example; 1 or 20 or 4000 if a number if negative show the negative sign e.g -20 or -400 show the variable costs and fixed costs as negative values Please answer it correctly with all working such as explanation , computation , formulation thanks
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
our friend who is studying marketing has been learning about flexing a budget based on the figures below;
Budgeted Units: 1245 Actual Units: 1300
| Budgeted | Actual | |
|---|---|---|
| Sales Value | 12,450 | 14,300 |
| Variable Costs | 4,980 | 5,850 |
| Fixed Costs | 2,490 | 2,100 |
| Profit | 4,980 | 6,350 |
Your friend is aware that they need to flex the budget but they are not sure how to do it; Help your friend to complete the flexed budget below;
| Budgeted | Flexed | Actual | Variance | Favourable or Adverse | |
|---|---|---|---|---|---|
| Sales Value (£) | Answer 2 | Answer 6 | Answer 10 | Answer 14 | Answer 1Choose...FavourableAdverse |
| Variable Costs | Answer 3 | Answer 7 | Answer 11 | Answer 15 | Answer 1Choose...FavourableAdverse |
| Fixed Costs | Answer 4 | Answer 8 | Answer 12 | Answer 16 | Answer 1Choose...FavourableAdverse |
| Profit | Answer 5 | Answer 9 | Answer 13 | Answer 17 | Answer 1Choose...FavourableAdverse |
- show all numbers to the nearest whole number with no £ sign for example; 1 or 20 or 4000
- if a number if negative show the negative sign e.g -20 or -400
- show the variable costs and fixed costs as negative values
Please answer it correctly with all working such as explanation , computation , formulation thanks
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