Super Foods manufactures pumpkin scones. For January 2020, it budgeted to purchase and use 16,500 pounds of pumpkin at $0.87 a pound. Actual purchases and usage for January 2020 were 17,000 pounds at $0.82 a pound. Super budgetedfor 66,000 pumpkin scones. Actual output was 57,800 pumpkin scones.Read the requirements.Requirement 1. Compute the flexible-budget variance.Let's begin by determining the formula used to calculate the actual pumpkin costs, then enter the amounts in the formula and calculate the cost.=Actual pumpkin costsRequirements1. Compute the flexible-budget variance.2. Compute the price and efficiency variances.3. Comment on the results for requirements 1 and 2 and provide a possibleexplanation for them.PrintDone-X

Requirement 1: Flexible-Budget Variance Flexible-Budget Variance = Actual Cost - Flexible Budget…

Answered: Super Foods manufactures pumpkin…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter6: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 1CMA: Taylor Corporation is analyzing the cost behavior of three cost items, A, B, and C, to budget for...

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The Soda Shoppe manufactures and sells three soft drinks: Kola, Lima, and Oranga. Budgeted and actual results for 2022 are as follows: (Click the icon to view the budgeted data.) (Click the icon to view the actual data.) Required 1. Compute the total sales-volume variance, the total sales-mix variance, and the total sales-quantity variance. (Calculate all variances in terms of contribution margin.) Show results for each product in your computations. 2. What inferences can you draw from the variances computed in requirement 1? Requirement 1. Compute the total sales-volume variance, the total sales-mix variance, and the total sales-quantity variance. (Calculate all variances in terms of contribution margin.) Show results for each product in your computations. Begin by computing the actual contribution margins (CM). Then, compute the budgeted contribution margins in dollars for each product and in total for 2022. Actual CM Kola Lima Oranga Total Budgeted data Kola Lima Oranga Budget for…
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A 100-room hotel budgeted an occupancy of 75% and an average room rate of $100 per room for year 2020. Actual occupancy was 50% and average room rate was $90. Assume 365 days in a year. Find the variance in total room revenue, variance in rooms sold and variance in average room rate, and then use the variance analysis matrix to find the constituents in total rooms revenue variance by breaking it up into price variance and quantity variance.
Westport Company is preparing its master budget for May. Use the estimates provided to determine the amounts necessary for each of the following requirements. (Estimates may be related to more than one requirement.) a. What should total sales revenue be if territories E and W estimate sales of 50,000 and 100,000 units, respectively, and the unit selling price is $70? 2$ b. If the beginning finished goods inventory is an estimated 6,000 units and the desired ending inventory is 11,500 units, how many units should be produced? units c. What dollar amount of materials should be purchased at $6 per pound if each unit of product requires 2.5 pounds and beginning and ending materials inventories should be 12,000 and 13,500 pounds, respectively.
Westport Company is preparing its master budget for May. Use the estimates provided to determine the amounts necessary for each of the following requirements. (Estimates may be related to more than one requirement.) a. What should total sales revenue be if territories E and W estimate sales of 50,000 and 100,000 units, respectively, and the unit selling price is $35? b. If the beginning finished goods inventory is an estimated 6,000 units and the desired ending inventory is 8,000 units, how many units should be produced?Answer units c. What dollar amount of materials should be purchased at $2.50 per pound if each unit of product requires 2.5 pounds and beginning and ending materials inventories should be 12,000 and 13,500 pounds, respectively. d. How much direct labor cost should be incurred if each unit produced requires 0.5 hours at an hourly rate of $16? e. How much manufacturing overhead should be incurred if fixed manufacturing overhead is $45,000 and variable manufacturing…
Click Draperies makes and sells curtains. Information related to its performance in 2020 is given below: (Click the icon to view the data.) Calculate Click Draperies' flexible budget for (a) revenues, (b) variable costs, (c) fixed costs, and (d) operating income. Calculate Click's flexible budget for (a) revenues. Begin by determining the formula and then solve for the amount. Actual units sold 1,560 X Budgeted selling price per unit = Flexible budget for revenues × $ 361,920 232 Calculate Click's flexible budget for (b) variable costs. Begin by determining the formula and then solve for the amount. Actual units sold 1,560 X Budgeted variable cost per unit × $ 108 = Calculate Click's flexible budget for (c) fixed costs. Click's flexible budget for fixed costs is $ 73,000. = = Flexible budget for variable costs 168,480 Calculate Click's flexible budget for (d) operating income. Begin by determining the formula and then solve for the amount. (Abbreviations used: rev = revenue, vc =…
Sunshine Foods manufactures pumpkin scones. For January 2017, it budgeted to purchase and use 14,750 pounds of pumpkin at $0.92 a pound. Actual purchases and usage for January 2017 were 16,000 pounds at $0.85 a pound. Sunshine budgeted for 59,000 pumpkin scones. Actual output was 59,200 pumpkin scones. Q.Compute the price and efficiency variances
Sunshine Foods manufactures pumpkin scones. For January 2017, it budgeted to purchase and use 14,750 pounds of pumpkin at $0.92 a pound. Actual purchases and usage for January 2017 were 16,000 pounds at $0.85 a pound. Sunshine budgeted for 59,000 pumpkin scones. Actual output was 59,200 pumpkin scones. Q. Compute the flexible-budget variance.
Freetown Corporation budgeted fixed manufacturing costs of $34,000 during 2020. Other information for 2020 includes: The budgeted denominator level is 2,400 units. Units produced total 1,500 units. Units sold total 1,300 units. Beginning inventory was zero. The company uses absorption costing and the fixed manufacturing cost rate is based on the budgeted denominator level. Manufacturing variances are closed to cost of goods sold. The production−volume variance is ________. (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.) Question content area bottom Part 1 A. $2,834 B. $15,587 C. $12,753 D. $0
26 per case. The following information relates to the budget for screenshots attached need help asap
Kanco Industries has a relevant range extending to 31,000 units each month. The following performance report provides information about Kanco's budget and actual performance for June. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget Flexible Volume Actual variance Budget Variance Master Budget Output units 26,000 31,000 Sales revenue Less: Variable expenses $ 242,000 $ 189,800 5,400 F Contribution margin Less: Fixed expenses Operating income 17,500 194,680 21,500
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