The Chesapeake Oyster Company completed the flexible budget analysis for the second quarter, which is given below. Sales Flexible Budget Volume Variance Variance Flexible Budget 12,840 Actual Results Units 12,840 0 840 F Sales Revenue $62,710 $1,490 U $4,200 F Variable Costs 27,570 563 U $1,767 U Contribution Margin $35,140 $2,433 F Fixed Costs 34,260 $2,053 U 260 U $2,313 U $0 Operating Income/(Loss) $880 $2,433 F Which of the following statements would be a correct factor to explain the flexible budget variance for sales revenue? O A. increase in variable cost per unit B. decrease in sales price per unit C. increase in fixed costs D. increase in sales volume $64,200 27,007 $37,193 34,000 $3,193 Static Budget 12,000 $60,000 25,240 $34,760 34,000 $760

The Chesapeake Oyster Company completed the flexible budget analysis for the second quarter, which is given below. Sales Flexible Budget Volume Variance Variance Flexible Budget 12,840 Actual Results Units 12,840 0 840 F Sales Revenue $62,710 $1,490 U $4,200 F Variable Costs 27,570 563 U $1,767 U Contribution Margin $35,140 $2,433 F Fixed Costs 34,260 $2,053 U 260 U $2,313 U $0 Operating Income/(Loss) $880 $2,433 F Which of the following statements would be a correct factor to explain the flexible budget variance for sales revenue? O A. increase in variable cost per unit B. decrease in sales price per unit C. increase in fixed costs D. increase in sales volume $64,200 27,007 $37,193 34,000 $3,193 Static Budget 12,000 $60,000 25,240 $34,760 34,000 $760

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Explain FIFO & LIFO .
Piper Specialty Store Ltd. completed the following merchandising transactions in the month of May 2021. At the beginning of May, Piper's ledger showed Cash $7,000; Accounts Receivable $1,900; Inventory $3,500; Common Shares $7,800; and Retained Earnings $4,600. Piper Specialty has experienced a return rate of 2% of sales and uses a perpetual inventory system. Purchased merchandise on account from Depot Wholesale Supply Ltd. for $5,340, terms 1/10, n/30, FOB shipping point. May 3 Freight charges of $137 were paid by the appropriate party on the merchandise purchased on May 1. Sold merchandise on account to Yip Company for $3,500, terms n/30, FOB destination. The cost of the merchandise was $2,400. 7 Freight charges of $86 were paid by the appropriate party on the May 4 sale. 8. Received a $140 credit from Depot Wholesale Supply when merchandise was returned. Paid Depot Wholesale Supply in full. 11 Purchased supplies for $390 cash. 14 Received payment in full from Yip Company for…
How DOES GIFMIS interfaces with CS- DMRS(DMD-MoF)
Explain what is included in Form 10-Q and why is it needed.
D nctions Question 10 Use the diagram below to find each of the following: sine of point a • cose of point b • tane of point c d e
I asked for S5-6
IAS 1 was reissued on _____. (MM/DD/YYYY)
For what purpose Form 2553 is required?
What is the solution to 0.5x - 2 < 5.5? O A. X < 7 о В. х< 9 С. X < 13 D. x < 15
8. Enumerate and explain the various application controls.
Mcqs 1. Copyrights refers to ……. Asset account?2. An example of asset is …………… please answer both questions
Q5 Distinguish between "report" and "certificate"