Don't give answer in image !Required information[The following information applies to the questions displayed below.]The fixed budget for 21,000 units of production shows sales of $567,000; variable costs of $63,000; and fixed costs of$141,000.If the company actually produces and sells 27,400 units, calculate the flexible budget income.------Flexible Budget------------Flexible Budget at ------Variable Amount Total Fixedper Unit21,000 units27,400 unitsCostContribution margin$0$0 $0$0 $0

Step 1:Sales per unit = $567000 / 21000 = $27Variable cost per…

Answered: ! Required information [The following…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 15EA: Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per...

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uiz i 2 Required information [The following information applies to the questions displayed below.] The fixed budget for 20,900 units of production shows sales of $438,900; variable costs of $62,700; and fixed costs of $142,000. If the company actually produces and sells 27,300 units, calculate the flexible budget income. Contribution margin Flexible Budget------ ---Flexible Budget at --- Variable Amount per Unit Total Fixed Cost 20,900 units 27,300 units
Note: for credit you must show your calculations for this problem. The Magenta Company has provided the following information:Planned Production: 220,000 UnitsActual Production: 250,000 Units Selling price per unit $4.00Variable cost per unit $2.00Total fixed costs $220,000What is the Budgeted Net Operating Income using a Flexible Budget Methodology? View keyboard shortcuts EditViewInsertFormatToolsTable 12pt Paragraph
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
! 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 $469,200; variable costs of $61,200; and fixed costs of $144,000. QS 23-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,100 units at $555,300. Actual variable costs were $113,300 and actual fixed costs were $136,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable or Unfavorable 0 0 0 $ 0
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 21,300 units of production shows sales of $511,200; variable costs of $63,900; and fixed costs of $142,000. QS 21-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,000 units at $576,000. Actual variable costs were $113,900 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 variance.) Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable
Howard Cooper, the president of Finch Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 1: Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost. Expected fixed costs Facility maintenance Selling, general, and administrative Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 28,000 hours of services in Year 1. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Finch charges customers $57 per hour, the firm can achieve 31,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same consultant also suggests that if the firm…
5. Archer's cost accountant prepared the following static budget based on expected activity of 4,000 units for the May 2022 accounting period: Sales Revenue $64,000 Variable Costs (34.000) Contribution Margin $30,000 (20.000) $10,000 Fixed Costs Net Income a. If Archer's sales manager were to prepare a flexible budget for expected activity of 4,300 units, budgeted net income on this flexible budget would be? b. If Archer actually produced and sold 4,300 units at $20 each, what is the sales revenue activity/volume variance? Indicate favorable / unfavorable variances c. If Archer actually incurred the following costs during May 2022: Sales Revenue Variable Costs Contribution Margin $49,000 Fixed Costs $86,000 (37.000) (22.000) $27,000 Net Income The flexible budget variance for: Indicate favorable / unfavorable variances i. Fixed costs: ii. Variable costs:
Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per unit, direct labor of $3 per unit, and manufacturing overhead of $1 per unit. Fixed costs are $35,000. What would be the budgeted amounts for 20,000 and 25,000 units?
Refer to Cornerstone Exercise 8.6. Required: 1. Calculate the total budgeted cost of units produced for Play-Disc for the coming year. Show the cost of direct materials, direct labor, and overhead. 2. Prepare a cost of goods sold budget for Play-Disc for the year. 3. What if the beginning inventory of finished goods was 75,200 (for 16,000 units)? How would that affect the cost of goods sold budget? (Assume Play-Disc uses the FIFO method.) Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: For the coming year, Play-Disc expects to make 300,000 plastic discs, and to sell 285,000 of them. Budgeted beginning inventory in units is 16,000 with unit cost of 4.75. (There are no beginning or ending inventories of work in process.) Required: 1. Prepare an ending finished goods inventory budget for Play-Disc for the coming year. 2. What if sales increased to 290,000 discs? How would that affect the ending finished goods inventory budget? Calculate the value of budgeted ending finished goods inventory.
Using the following per-unit and total amounts, prepare a flexible budget at the 14,000-, 15,000-, and 16,000-unit levels of production and sales for Natural Products Inc.:
Preparing a performance report Use the flexible budget prepared in P7-6 for the 31,000-unit level and the actual operating results listed below for the 31,000-unit level. Required: 1. Prepare a performance report. 2. List the major reasons why the actual operating income at 31,000 units differs from the master budget operating income at 30,000 units in Figure 7-12. 3. Given the level at which the company operated, how was its cost control? Item Direct materials: Direct labor:

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