QS 21-1 (Algo) Flexible budget performance report LO P1 Beech Company produced and sold 112,000 units in May. For the level of production in May, budgeted amounts were sales, $1,260,000; variable costs, $846,000; and fixed costs, $260,000. The following actual results are available for May. Actual Results Sales (112,000 units) Variable costs Fixed costs $ 1,237,000 814,500 260,000 Prepare a flexible budget performance report for May. Indicate whether each variance is favorable or unfavorable. (Indicate the eff of each variance by selecting favorable, unfavorable, or no variance.)

QS 21-1 (Algo) Flexible budget performance report LO P1 Beech Company produced and sold 112,000 units in May. For the level of production in May, budgeted amounts were sales, $1,260,000; variable costs, $846,000; and fixed costs, $260,000. The following actual results are available for May. Actual Results Sales (112,000 units) Variable costs Fixed costs $ 1,237,000 814,500 260,000 Prepare a flexible budget performance report for May. Indicate whether each variance is favorable or unfavorable. (Indicate the eff of each variance by selecting favorable, unfavorable, or no variance.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

am. 75.
Why are payments received from customers in advance, for either services to be performed and/or for goods to be delivered, classified as liabilities upon the receipt of the funds?
None
A9
None
Please do not give solution in image format thanku
A6
Please do not give solution in image format thanku
Exercise 16-28 (Static) Profit Varlance Analysis (LO 16-4) The master budget at Cherrylawn Corporation at the beginning of the year was based on sales of 275,000 units with revenues of $3,300,000 Total variable costs were budgeted at $1.925,000 and fixed costs at $950.000. During the period, actual production and actual sales were 255,000 units. The actual revenues were $3,442,500. Actual variable costs were $6.50 per unit. Actual fixed costs were $980,000. 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. Sales revenue Less Variable costs Contribution margin Less Fixed costs Operating profits 15 S S Actual Cherrylawn Corporation Profit Varlance Analysis Manufacturing Variances Sales Price Variance Flexible Budget Sales Activity Variance Master Budget FM $ MISTRES $
EX.22-02 ALGO Flexible Budget for Selling and Administrative Expenses for a Service company Morningside Technologies Inc. uses flexible budgets that are based on the following data: Sales commissions Advertising expense Miscellaneous administrative expense 9% of sales 23% of sales $1,750 per month plus 1% of sales Office salaries expense Customer support expenses Research and development expense $17,000 per month $2,500 plus 2% of sales 3,300 per month Prepare a flexible selling and administrative expenses budget for April for sales volumes of $110,000, $140,000, and $165,000. Enter all amounts as positive numbers.
6
D