Planning budget: Sales volume = 40,000. Actual results: Sales price = $10.00. %3D Consider the following budget information: RU per Cost per Cost per Cost per Finished Resource Finished Planning Finished Unit (FU) Unit (RU) Unit (FU) Budget Actual Unit (FU) Sales - Total $s DM - Materials Direct labor Variable overhead Fixed expenses $360,000 $390,000 5.00 100,000 107,250 $0.25 80,000 $1.90 4.00 $0.40 68,250 100,000 Net income 25,400 Actual income EXCEEDS flexible budget income by: $9,400 $12,300 $14,400 $20,200

Planning budget: Sales volume = 40,000. Actual results: Sales price = $10.00. %3D Consider the following budget information: RU per Cost per Cost per Cost per Finished Resource Finished Planning Finished Unit (FU) Unit (RU) Unit (FU) Budget Actual Unit (FU) Sales - Total $s DM - Materials Direct labor Variable overhead Fixed expenses $360,000 $390,000 5.00 100,000 107,250 $0.25 80,000 $1.90 4.00 $0.40 68,250 100,000 Net income 25,400 Actual income EXCEEDS flexible budget income by: $9,400 $12,300 $14,400 $20,200

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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