Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of thefollowing two output levels:a. 3,790 units.b. 4,190 units.Show less aFlexible budget Flexible budget(b.)Master Budget(a.)Units4,000Sales60,000Variable costs:Manufacturing16,000Selling and administrative8,00024,000Total variable costs%2436,000Contribution marginFixed costs:13,300Manufacturing9,400Selling and administrative2$22,700Total fixed costs%2413,300Operating income< Required 2Requlted 4Next >... The following information is available for Brownstone Products Company for the month of July:MasterActualBudget4, eee$ 60,00016, e00UnitsSales revenueVariable manufacturing costsFixed manufacturing costsVariable selling and administrative expensesFixed selling and administrative expenses3,8ee$ 53,60019,40014,3008,1009,see13, 30e8, e009,400Required:1. What was the master budget varidnce for July? Was this variance favorable or unfavorable?2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contributionmargin and in terms of operating income.4. Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budiget for each of thefollowing two output levels:a. 3,790 units.b. 4,190 units.Complete this question by entering your answers in the tabs below.Required 1Required 2Required 4..Next

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Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels: a. 3,790 units. b. 4,190 units. Show less Flexible budget Flexible budget (b.) (a.) Master Budget Units 4,000 Sales 60,000 lariable costs Manufacturing 16,000 Selling and administrative 8,000 24,000 iotal variable costs 36,000 contribution margin xed costs: 13,300 Manufacturing 9,400 Selling and administrative tal fixed costs %24 22,700 13,300

Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels: a. 3,790 units. b. 4,190 units. Show less Flexible budget Flexible budget (b.) (a.) Master Budget Units 4,000 Sales 60,000 lariable costs Manufacturing 16,000 Selling and administrative 8,000 24,000 iotal variable costs 36,000 contribution margin xed costs: 13,300 Manufacturing 9,400 Selling and administrative tal fixed costs %24 22,700 13,300

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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A company's flexible budget for 12,000 units of production showed sales, $46,800; variable costs, $12,000; and fixed costs, $28,000. The contribution margin expected if the company produces and sells 28,000 units is: Multiple Choice $46,800. $81,200. $28,000. $12,000. $74,800.
The fixed budget for 20,800 units of production shows sales of $582,400; variable costs of $62,400; and fixed costs of $142,000. QS 21-4 (Algo) Flexible budget performance report LO P1 The company’s actual sales were 27,200 units at $713,600. Actual variable costs were $113,800 and actual fixed costs were $136,000. 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 varian
RD.14.
LO.4 & Lo.5 (High-ow method; flexible budget) Tijuana Tile has gathered thefollowing information on its utilitv cost for the past six months. Machine hours Utility cost 1,300 940 1,700 1,075 1,250 900 1,800 1,132 1,900 1,160 1,500 990 a. Using the high-low method, determine the cost formula for utility cost.b. Prepare a flexible budget with separate variable and fixed categories for utdlity costat 1,325, 1,500, and 1,675 machine hours.
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Assume that a company has two cost drivers-number of courses and number of students. The planned number of courses and students were 5 and 100, respectively. The actual number of courses and students were 6 and 110, respectively. One of the company's expenses is influenced by both cost drivers. Its cost formulas are $58 per course and $7 per student. The total cost included in the planning budget for this expense would be:Multiple Choice$890.$ 990.$1,090.$1,190.
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Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 20,400 units of production shows sales of $550,800; variable costs of $61,200; and fixed costs of $142,000. QS 21-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,700 units at $674,900. Actual variable costs were $113,300 and actual fixed costs were $137,000. 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 $ Flexible Budget Performance Report Flexible Budget Actual Results 0 0 $ 0 0 Variances Favorable/ Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable
The following data have been extracted from the budgets of Kelvin Ltd,a company that manufacture and sells a single product $per unit Selling price Direct material cost Direct wages Variable overhead Fixed overhead 45 10 4 2.50 1.50 Fixed production overhead costs are budgeted at $400,000 per annum. Normal production levels are expected to be 200,000 units per annum. Actual Fixed Production overheads are $120,000 Budgeted administration costs are $120,000 per annum. The following pattern of sales and production is expected during 2003: Sales (units) Production (units) 60,000 70,000 You are required a. To prepare budgeted profit statements for the year using (i) (ii) Marginal Costing Absorption Costing b. To reconcile the profits for the year