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Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. Indicate the effect of each variance by selectin or "U" for unfavorable. If there is no effect, do not select either option.

Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. Indicate the effect of each variance by selectin or "U" for unfavorable. If there is no effect, do not select either option.

FINANCIAL ACCOUNTING
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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Nottingham Forest Products reports the following information concerning operations for the most recent month: Master Budget (based on Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits There are no inventories. Actual (based on actual sales budgeted sales of 5,370 units) of 4,475 units) $ 210,325 $ 257,200 50,492 31,710 16,798 7,995 7,405 $ 114,400 $ 142,800 39,215 15,050 9,795 $ 64,060 $ 78,740 39,190 27,390 13, 290 6,390 6,690 $ 92,950 $ 117,375 37,590 12,390 10,590 $ 60,570 $ 56,805 Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. 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.
Transcribed Image Text:Nottingham Forest Products reports the following information concerning operations for the most recent month: Master Budget (based on Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits There are no inventories. Actual (based on actual sales budgeted sales of 5,370 units) of 4,475 units) $ 210,325 $ 257,200 50,492 31,710 16,798 7,995 7,405 $ 114,400 $ 142,800 39,215 15,050 9,795 $ 64,060 $ 78,740 39,190 27,390 13, 290 6,390 6,690 $ 92,950 $ 117,375 37,590 12,390 10,590 $ 60,570 $ 56,805 Required: Prepare a sales activity variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. 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 Variable costs: Manufacturing costs: Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs: Manufacturing Marketing Administrative Total fixed costs Operating profits NOTTINGHAM FOREST PRODUCTS Sales Activity Variance Flexible Budget (based on actual of 5,370 units) $ $ $ $ 0 0 0 0 Master Budget (based on Sales Activity Variance budgeted 4,475 units) $ $ $ $ $ 210,325 39,190 27,390 13,290 6,390 6,690 92,950 117,375 37,590 12,390 10,590 60,570 56,805
Transcribed Image Text:Sales revenue Variable costs: Manufacturing costs: Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs: Manufacturing Marketing Administrative Total fixed costs Operating profits NOTTINGHAM FOREST PRODUCTS Sales Activity Variance Flexible Budget (based on actual of 5,370 units) $ $ $ $ 0 0 0 0 Master Budget (based on Sales Activity Variance budgeted 4,475 units) $ $ $ $ $ 210,325 39,190 27,390 13,290 6,390 6,690 92,950 117,375 37,590 12,390 10,590 60,570 56,805
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