Sales price $6.54 per unit Variable costs $2.77 per unit Fixed Costs $10,874 Budgeted number of units 5,025 What is margin of safety in units?(Round to the nearest whole unit in your final answer)
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- Budget Actual Sales Units 5,000 Selling Price $50 $250,000 6.000 Variable costs Variable costs $32 $160,000 Overheads Overheads $70,000 $70,000 Budget Profit $20,000 a) From the data above, flex the budget and show all the flexed costs and the profit b) List Two advantages of a flexed budget (Please do not give solution in image format thankuIf variable manufacturing cost £5 per unit Fixed costs £10,000 avoidable Fixed costs £20,000 committed Budgeted production 5,000 units The maximum buy in price is equal to: A £5 B £6 C £7 D £8
- Please solve this and explain the solutionsContribution Margin Variance Iliff, Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted Amounts: ToasterOven ConvectionOven Total Sales: ($100 × 26,000) $2,600,000 ($145 × 16,000) $2,320,000 $4,920,000 Variable expenses 455,000 750,000 1,205,000 Contribution margin $2,145,000 $1,570,000 $3,715,000 Actual Amounts: ToasterOven ConvectionOven Total Sales: ($80 × 24,500) $1,960,000 ($165 × 13,500) $2,227,500 $4,187,500 Variable expenses 500,000 703,400 1,203,400 Contribution margin $1,460,000 $1,524,100 $2,984,100 Required: 1. Calculate the contribution margin variance.Production budget help
- Contribution Margin Volume Variance Ioannis Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted Amounts: ToasterOven ConvectionOven Total Sales: ($96 × 27,500) $2,640,000 ($151 × 19,500) $2,944,500 $5,584,500 Variable expenses 535,000 750,000 1,285,000 Contribution margin $2,105,000 $2,194,500 $4,299,500 Actual Amounts: ToasterOven ConvectionOven Total Sales: ($85 × 27,000) $2,295,000 ($163 × 13,000) $2,119,000 $4,414,000 Variable expenses 513,200 721,200 1,234,400 Contribution margin $1,781,800 $1,397,800 $3,179,600 1. Calculate the budgeted average unit contribution margin. 2. Calculate the contribution margin volume varianceContribution Margin Volume Variance Iliff, Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted Amounts: ToasterOven ConvectionOven Total Sales: ($92 × 29,500) $2,714,000 ($155 × 15,500) $2,402,500 $5,116,500 Variable expenses 495,000 780,000 1,275,000 Contribution margin $2,219,000 $1,622,500 $3,841,500 Actual Amounts: ToasterOven ConvectionOven Total Sales: ($81 × 25,000) $2,025,000 ($165 × 12,500) $2,062,500 $4,087,500 Variable expenses 539,600 712,300 1,251,900 Contribution margin $1,485,400 $1,350,200 $2,835,600 Required: 1. Calculate the budgeted average unit contribution margin. Round your answer to the nearest cent. Use rounded answer in subsequent computations. 2.…Journal entry
- Problem Set: Module 4 1. EX.06.01 2. PR.06.02A.ALGO 3. BE.06.02.ALGO 4. BE.06.03.ALGO engagenow.com + 40 Contribution Margin Harry Company sells 36,000 units at $40 per unit. Variable costs are $34.00 per unit, and fixed costs are $103,700. Determine (a) the contribution margin ratio, (b) the unit contribution margin, and (c) operating income. a. Contribution margin ratio (Enter as a whole number.) b. Unit contribution margin (Round to the nearest cent.) c. Operating income $ : % per unit ?The fixed budget for 20,600 units of production shows sales of $473,800; variable costs of $61,800; and fixed costs of $141,000. If the company actually produces and sells 26,700 units, calculate the flexible budget income.Little Table of Information (L'TOI) The table reminds you about the difference between finished units (sales volume) and resources units used to produce those sales. Also, BOTH the +2 and SQ must reflect the actual and standard (planned) resource units needed to produce the actual sales volume. Little Table of Information (L'TOI) Flexible Budget Actual Actual Finished Units (FU) Sold 17,000 17,000 x Resource Units per FU 1.00 1.50 = Total Resource Units (RU) (SQ) 17,000 25,500 (AQ) x Price per RU (SP) $8.00 $7.00 (AP) = Total cost $136,000 $178,500 Problem 6.1: In August, Phelps produced 5,000 award medals, 100 more than expected. During the month, the company purchased 1,100 ounces of gold for $875,000. Material standards per medal: 0.21 ounces @ $800 per ounce. The company actually used 1,000 ounces of gold for production. Calculate direct materials price and quantity variances. Problem 6.2: Shevlin Enterprises purchased 60,000 gallons of direct materials during the year at a price…