Tempo Company's fixed budget (based on sales of 10,000 units) folllows. Fixed Budget Sales (10,000 units x $219 per unit) Costs Direct materials Direct labor Indirect materials 2,190,000 240,000 420,000 270,000 Supervisor salary 40,000 Sales commissions 80,000 Shipping 150,000 Administrative salaries 90,000 Depreciation-Office equipment 60,000 Insurance 30,000 Office rent 40,000 Income 770,000 1. Compute total variable cost per unit. 2. Compute total fixed costs. 3. Prepare a flexible budget at activity levels of 8,000 units and 12,000 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute total variable cost per unit. Total variable cost per unit

Tempo Company's fixed budget (based on sales of 10,000 units) folllows. Fixed Budget Sales (10,000 units x $219 per unit) Costs Direct materials Direct labor Indirect materials 2,190,000 240,000 420,000 270,000 Supervisor salary 40,000 Sales commissions 80,000 Shipping 150,000 Administrative salaries 90,000 Depreciation-Office equipment 60,000 Insurance 30,000 Office rent 40,000 Income 770,000 1. Compute total variable cost per unit. 2. Compute total fixed costs. 3. Prepare a flexible budget at activity levels of 8,000 units and 12,000 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute total variable cost per unit. Total variable cost per unit

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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Duo, Incorporated, carries two products and has the following year-end income statement (000s omitted): Product AR-10 Product ZR-7 Budget Actual Budget Actual Units 4,000 5,600 10,000 9,300 Sales $ $ 28,000 $ 15,120 $ 20,000 $ 19,530 Variable costs 3,200 5,600 10,000 9,770 Fixed Costs 1,800 1,900 2,400 2,400 Total Costs $ 5,000 $ 7,500 $ 12,400 $ 12,170 Operating income $ 23,000 $ 7,620 $ 7,600 $ 7,360 The net effect of AR-10's sales volume variance on profit is: Multiple Choice $4,960 favorable. $5,660 favorable. $7,330 favorable. $8,030 favorable. $9,920 favorable. THE ANSWER IS NOT 8030 and I am not sure why
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Q19 Winston Company had two products code named X and Y. The firm had the following budget for August: Product X Product Y Total Sales $ 266,000 $ 450,000 $ 716,000 Variable Costs 192,000 225,000 417,000 Contribution Margin $ 74,000 $ 225,000 $ 299,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 24,000 $ 117,000 $ 141,000 Selling Price per unit $ 100 $ 50 On September 1, the following actual operating results for August were reported: Product X Product Y Total Sales $ 280,000 $ 470,000 $ 750,000 Variable Costs 154,000 188,000 342,000 Contribution Margin $ 126,000 $ 282,000 $ 408,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 76,000 $ 174,000 $ 250,000 Units Sold 3,000 9,000 Total industry volume for both products X and Y was estimated to be 130,000 units at the time of the budget. Actual industry volume for the period for products X and Y was 100,000 units. The firm's market size variance for the period…
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