The Clarkson Company produces engine parts for car manufactur- ers. A new accountant intem at Clarkson has accidentally deleted the company's variance analysis calculations for the year ended December 31, 2017. The following table is what remains of the data. Review Home Insert Page Layout Formulas Data View Performance Report, Year Ended December 31, 2017 2 Flexible-Budget Flexible Budget Sales-Volume Static Budget 120,000 Variances Actual Results Variances 3 130,000 $715,000 515,000 200,000 140,000 $ 60,000 4 Units sold 5 Revenues (sales) 6 Variable costs 7 Contribution margin 8 Fixed costs 9 Operating income $420,000 240,000 180,000 120,000 $ 60,000
The Clarkson Company produces engine parts for car manufactur- ers. A new accountant intem at Clarkson has accidentally deleted the company's variance analysis calculations for the year ended December 31, 2017. The following table is what remains of the data. Review Home Insert Page Layout Formulas Data View Performance Report, Year Ended December 31, 2017 2 Flexible-Budget Flexible Budget Sales-Volume Static Budget 120,000 Variances Actual Results Variances 3 130,000 $715,000 515,000 200,000 140,000 $ 60,000 4 Units sold 5 Revenues (sales) 6 Variable costs 7 Contribution margin 8 Fixed costs 9 Operating income $420,000 240,000 180,000 120,000 $ 60,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Q.Calculate all the required variances. (If your work is accurate, you will find that the total static-
Transcribed Image Text:The Clarkson Company produces engine parts for car manufactur-
ers. A new accountant intem at Clarkson has accidentally deleted the company's variance analysis calculations
for the year ended December 31, 2017. The following table is what remains of the data.
Review
Home
Insert
Page Layout
Formulas
Data
View
Performance Report, Year Ended December 31, 2017
2
Flexible-Budget Flexible Budget
Sales-Volume
Static Budget
120,000
Variances
Actual Results
Variances
3
130,000
$715,000
515,000
200,000
140,000
$ 60,000
4 Units sold
5 Revenues (sales)
6 Variable costs
7 Contribution margin
8 Fixed costs
9 Operating income
$420,000
240,000
180,000
120,000
$ 60,000
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