Performance ReportDrizzdale Industries - Pharmaceutical SegmentFor the Fiscal Year Ended December 31Sales866,320Variable Cost of Goods Sold(all figures in millions of dollars)Actual143,325Variable Operating ExpensesDirect Fixed Manufacturing OverheadDirect Fixed Operating ExpensesCommon Fixed ExpensesBudgeted Variance F/U Variance % F/U162,16296,300$17,28014,140Budgeted data for the same time period for the pharmaceutical segment are as follows (alldata are in millions):Budgeted sales in unitsBudgeted average selling price per unitVariable Cost of Goods Sold per unit9,1008515Variable Operating Expenses per unitDirect Fixed Manufacturing Overhead (in total)Direct Fixed Operating Expenses (in total)Common Fixed Expenses Allocated to thePharmaceutical Segment18Operating income (loss)2$90,00016,0002$14,000 RequirementsPrepare a segment margin performance report for the pharmaceutical segment. In this report, be sure to includelines for the contribution margin, the segment margin, and operating income. Calculate a variance and a variancepercentage for each line in the report.a.Check your spelling carefully and do not abbreviate.b.Follow the format shown in Exhibit 10-4.C.Use the ABS function when calculating variances, and use the drop-down selections for F (favorable) or U (unfavorable) when describing the variances.

Performance Report Drizzdale Industries - Pharmaceutical Segment For Fiscal Year Ended December…

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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 following information was drawn from the accounting records of Ashton Company. Budgeted Actual Sales $ 10,000 $ 13,000 Cost of Goods Sold (5,000 ) (6,600 ) Gross Margin 5,000 6,400 Variable Cost (2,000 ) (2,700 ) Fixed Cost (2,500 ) (1,900 ) Net Income $ 500 $ 1,800 Based on this information Ashton Company has a Multiple Choice $1,300 favorable sales variance $1,300 unfavorable sales variance $3,000 favorable sales variance $3,000 unfavorable sales variance
Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixedCost EstimatedVariableCost(perunitsold) Production costs: Direct materials $13 Direct labor 9 Factory overhead $210,100 6 Selling expenses: Sales salaries and commissions 43,700 3 Advertising 14,800 Travel 3,300 Miscellaneous selling expense 3,600 3 Administrative expenses: Office and officers' salaries 42,700 Supplies 5,300 1…
Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixed Cost Estimated Variable Cost(per unit sold) Production costs: Direct materials $13 Direct labor 9 Factory overhead $212,900 6 Selling expenses: Sales salaries and commissions 44,200 3 Advertising 15,000 Travel 3,300 Miscellaneous selling expense 3,700 3 Administrative expenses: Office and officers' salaries 43,200 Supplies 5,300 1…
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Item to Classify Standard Actual Sales Revenue 832,000 853,000 Wages 137,000 141,200 S&A Expenses 412,000 421,200 Cost of Goods Sold 621,200 612,000 The sales revenue flexible budget variance was: Multiple Choice $21,000 unfavorable. $11,800 favorable. $21,000 favorable. $11,800 unfavorable.
Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixedCost EstimatedVariableCost(perunitsold) Production costs: Direct materials $22 Direct labor 14 Factory overhead $514,300 11 Selling expenses: Sales salaries and commissions 106,900 5 Advertising 36,200 Travel 8,000 Miscellaneous selling expense 8,800 4 Administrative expenses: Office and officers' salaries 104,500 Supplies 12,900 2…
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Benson Company has provided the following Year 2 data. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense Variances Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense BENSON COMPANY Internal Income Statement for Year 2 Budget Required Prepare a budgeted and actual Income statement for Internal use. Sales Variable expenses: Product costs $504,000 186,000 46,000 3,300 16,500 23,400 1,900 700 Selling expenses Other expenses Contribution margin Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 8,600 Unfavorable 4,200 Favorable 2,300 Unfavorable 1,700 Unfavorable 310 Favorable 490 Favorable 190 Unfavorable 90 Favorable Actual
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