Rundle Company has provided the following for the year. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Denem Interest expense Variances arance Sales Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense $509,000 198,000 46,000 3,400 16,100 24,200 1,200 760 8,000 U 4,500 F 1,900 U 1,700 U 260 F 410 F 110 U 100 F Required a. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements and indicate whether each variance is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)

Rundle Company has provided the following for the year. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Denem Interest expense Variances arance Sales Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense $509,000 198,000 46,000 3,400 16,100 24,200 1,200 760 8,000 U 4,500 F 1,900 U 1,700 U 260 F 410 F 110 U 100 F Required a. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements and indicate whether each variance is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)

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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TB MC Qu. 16-80 (Static) The net effect of AR-10's sales volume variance on profit: Duo, Incorporated Duo, Incorporated, carries two products and has the following year-end income statement (000s omitted) Product ZR-7 Units Sales $ Variable costs Product AR-10 Multiple Choice Budget 2,000 $ 6,000 2,400 1,800 $4,200 $ 1,800 Actual 2,800 $ 7,560 2,800 1,900 $4,700 $ 2,860 Fixed Costs Total Costs Operating income The net effect of AR-10's sales volume variance on profit is: Budget 6,000 $ 12,000 6,000 2,400 $ 8,400 $ 3,600 Actual 5,600 $ 11,760 5,880 2,400 $ 8,280 $ 3,480
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Cost volume variance Price quantity variance Cost variance Cost quantity variance
Consider the following information: Retail price per unit: Wholesale price per unit: Manufacturer's price per unit: Manufacturer's variable cost: Retailer's fixed costs per quarter: Wholesaler's fixed costs per quarter: Manufacturer's fixed costs per quarter: Retailer's unit sales this quarter: Wholesaler's unit sales this quarter: Manufacturer's unit sales this quarter: $150 O $90.91 O $111.12 O $72.50 O $145.46 $80 $50 $35 $75,000 $1,750,000 $2,500,000 1,800 80,000 160,000 If the wholesaler wants his margin to be 45%, but doesn't believe he can convince the manufacturer to lower her price below $50, what price does the wholesaler need to charge the retailer? O Search