Required information [The following information applies to the questions displayed below.] A company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for April as shown below: Fixed Actual Variable Element per Customer Served Element Total for April $ 216,500 per Month Revenue 5,900 Employee salaries and $ 116,200 $ 19,700 $ 42,500 66,000 $ 1,300 wages Travel expenses 580 Other expenses 24 45,000 When preparing its planning budget the company estimated that it would serve 35 customers per month; however, during April the company actually served 40 customers.

Required information [The following information applies to the questions displayed below.] A company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for April as shown below: Fixed Actual Variable Element per Customer Served Element Total for April $ 216,500 per Month Revenue 5,900 Employee salaries and $ 116,200 $ 19,700 $ 42,500 66,000 $ 1,300 wages Travel expenses 580 Other expenses 24 45,000 When preparing its planning budget the company estimated that it would serve 35 customers per month; however, during April the company actually served 40 customers.

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 applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: Revenue Employee salaries and wages Travel expenses Other expenses Fixed Element per Month $ 59,000 Revenue variance $ 38,000 Variable Element per Customer Served $ 5,500 $2,000 $ 510 Actual Total for May $ 204,000 $ 137,900 $ 17,500 $36,200 When preparing its planning budget the company estimated that it would serve 35 customers per month; however, during May the company actually served 40 customers. 6. What is Adger's revenue variance for May? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.
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The following information is available for Brownstone Products Company for the month of July: Master Actual Budget 4, eee $ 60,000 16, e00 Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses 3,8ee $ 53,600 19,400 14,300 8,100 9,see 13, 30e 8, e00 9,400 Required: 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 contribution margin 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 the following two output levels: a. 3,790 units. b. 4,190 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 .. Next
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Arberg Company’s controller prepared the following budgeted income statement for the coming year: Sales $417,000 Variable cost 287,730 Contribution margin $129,270 Fixed cost 75,950 Operating income $53,320 2. Suppose Arberg’s actual revenues are $29,900 more than budgeted. By how much will operating income increase?
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