Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Units Produced and Sold Actual $207,000 $148,000 S $68,900 8,900 Flexible Budget Variance S $ $24,180 SO $24.180 0 U U ✪ ◆ Flexible Budget $ $32.420 S $79,100 S Sales-Volume Variance $12,800 S $24,820 $0 $24,820 U U ÷ Static Budget $20,400 $197,000 $117,900 12.500

Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Units Produced and Sold Actual $207,000 $148,000 S $68,900 8,900 Flexible Budget Variance S $ $24,180 SO $24.180 0 U U ✪ ◆ Flexible Budget $ $32.420 S $79,100 S Sales-Volume Variance $12,800 S $24,820 $0 $24,820 U U ÷ Static Budget $20,400 $197,000 $117,900 12.500

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter24: Material And Labor Variances (primevar)

Section: Chapter Questions

Problem 4R: The worksheet you have developed will handle most simple variance analysis problems. Try the problem...

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Fill in the blank cells Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Enter all variances as positive values. Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Units Produced and Sold $ $ Actual $187,000 $ $76,000 $4,200 6,100 Flexible Budget Variance $98,070 $0 $98,070 0 U U ◆ Flexible Budget $ LA $23,330 $ $71,800 Sales-Volume Variance $13,900 $7,930 $0 $7,930 U U U 43 Static Budget $29,300 $182,000 $110.200 8,100
Take me to the text Fill in the blank cells Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Enter all variances as positive values, Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Units Produced and Sold Check Actual $238,000 $ $135,000 $61,900) 9,100 Flexible Budget Variance $38,110 50 $38,110 0 U Flexible Budget $28,290 $73,100 Sales-Volume Variance $8,500 $8,890 $0 $8,890 D Static Budget $27,900 $182,000 $108,900 11,000
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Chanandler Bong Company manufactures transponsters. The company's controller misplaced some of the company's data. Use the following information to replace the lost data. F denotes a favorable variance and U denotes an unfavorable variance. Actuals Units Sold 11,250 11,250 Variable Costs Revenues $46,000 ? Fixed Costs Flexible Budget ? ? $15,975 $9,140 Flexible Budget Variance $1,000 F $200 U $860 F What is the actual operating income?
Fill in the blanks with the variances and whether they are favorable or unfavorable. Format your answers with the number and capitalized F/U with no space in between (ex: 200.5F). Do not enter a dollar sign. Enter 0 if there is no variance. Actual Spending Variance Flexible Activity Variance Budgeted Units 285 0 285 35 250 Revenues 6,450 6,697.5 5,875 Direct Labor 2,700 2,707.5 2,375 Direct Materials 790 769.5 675 Manufacturing Overhead 1,060 1,197 1,050 S&A Expenses 171 171 150 Income 1,729 1,852.5 1,625
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Dasance, make sure to enter u in the appropriate neid. it ine variance is zero, do not select a saber. Hound your answers to the nearest whole odiar.) Actual Flexible-Budget Flexible Sales-Volume Results Variance Budget Variance Units sold Revenues (sales) Variable costs Contribution margin Fixed costs $ 103,000 695,250 $ 430,000 $ 345,050 F S 198,250 U 103.000 350,200 $ 231,750 265,250 246,750 18,500 $ 14,950 13,000 F 44,200 F $ 29,250 U 14,950 F 0 14,950 146,800 F 161,750 U U Operating income Calculate the total static-budget variance to verify your work is accurate. Determine the labels and then enter the amounts to calculate the static-budget variance. (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Abbreviation used: CM = contribution margin.) 118,450 85,000 33,450 $ Static Budget F 90,000 306,000 202,500 Total static-budget variance 103,500 85,000 18,500
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PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAINATIONS Prepare fully labeled variance diagrams(used in Class) for manufacturing overhead splitting them between variance and fixed Denominator level in hours 40,000 Actual output in units 21,000 Std. Variable overhead rate per machine hour $2.80 Actual variable overhead incurred $117,000 Actual fixed overhead incurred $302,100 Variable overhead applied $117,600 Variable overhead Efficiency Variance $8,400 U Fixed overhead budget variance $2,100 U What is the Over/under Allocated MO for Variable MO? ______________ What is the Over/under Allocated MO for Fixed MO? ___________________ Prepare journal entries that would be made at the end of each month relating to the above variances.
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