The fixed budget for 20,400 units of production shows sales of $550,800; variable costs of $61,200; and fixed costs of $142,000. QS 21-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,700 units at $674,900. Actual variable costs were $113,300 and actual fixed costs were $137,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Sales Variable costs Contribution margin Fixed costs Income $ Flexible Budget Performance Report Flexible Budget Actual Results Variances 0 0 $ 0 Favorable/ Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable

The fixed budget for 20,400 units of production shows sales of $550,800; variable costs of $61,200; and fixed costs of $142,000. QS 21-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,700 units at $674,900. Actual variable costs were $113,300 and actual fixed costs were $137,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Sales Variable costs Contribution margin Fixed costs Income $ Flexible Budget Performance Report Flexible Budget Actual Results Variances 0 0 $ 0 Favorable/ Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable

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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asper Co has the following budget and actual figures for 20X4. Details Budget Actual Sales units 600 620 Selling price per unit $30 $29 Standard full cost of production = $28 per unit. Required: Calculate the selling price variance and the sales volume profit variance.
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Required Information [The following information applies to the questions displayed below.] The fixed budget for 21,300 units of production shows sales of $489,900; variable costs of $63,900; and fixed costs of $144,000. The company's actual sales were 27,300 units at $580,900. Actual variable costs were $113,400 and actual fixed costs were $138,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable
S TB MC Qu. 16-41 (Algo) James Manufacturing had the following... James Manufacturing had the following information available for July: Actual Results 13,300 Units Sales revenue Less: Variable manufacturing costs Variable marketing and administrative Contribution margin What was James's flexible budget contribution margin for July? ere to search Multiple Choice $52,600 $50 750 O $ 90,750 ? $ 52,600 ? Sales Activity Variance 3,350 U ? $ 4,150 F $ 6,150 U Master Budget ? ? $ 123,900 $30,300 ? 37°F Cloudy ^-4
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Correo Company had a static budgeted operating income of $8.6 million. Actual operating income was $6.4 million. The flexible budget operating income at the actual level of output is $7,000,000. What is the staticbudget variance of operating income? Question content area bottom Part 1 A. $1.6 million Unfavorable B. $1.6 million Favorable C. $2.2 million Favorable D. $2.2 million Unfavorable Please provide only typed answer solution no handwritten solution needed allowed.. Please do it neat and clean correctly.
Oriole Industries has the following actual and master budget information for its two product lines: Volume in Units Unit Contribution Margin Sales quantity variance Gadgets Sales quantity variance Gizmos Actual Results Total sales quantity variance Gadgets Gizmos 1,150 1,870 $6 $9 Compute the Sales Quantity Variances for the Gadgets, Gizmos, and in Total. (Round intermediate calculations to 4 decimal places, eg. 2.3337 and final answers to O decimal places, e.g. 2,555.) $ $ tA Master Budget $ Gadgets 1,350 $5 Gizmos 1,770 $10 >
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