Required information[The following information applies to the questions displayed below.]The fixed budget for 21,700 units of production shows sales of $455,700; variable costs of$65,100; and fixed costs of $143,000.If the company actually produces and sells 26,800 units, calculate the flexible budget income.-Flexible Budget-Flexible Budget at-Variable Amount Total Fixedper UnitCont26,800 unitsSalesVariable costsContribution marginS0Fixed costsIncome21.700 units$S0 $0 S0

The variable cost per unit remains constant and total fixed costs remain constant at every level of…

[The following information applies to the questions displayed below.] The fixed budget for 21,700 units of production shows sales of $455,700; variable costs of $65.100; and fixed costs of $143,000. If the company actually produces and sells 25,800 units, calculate the flexible budget income. -Flexible Budget- Flexible Budget at- Variable Amount Total Fixed per Unit Cost 26,800 units Sales Variable costs Contribution margin S 0 Fixed costs 0 Income 21,700 units $ S 0 $ 05

[The following information applies to the questions displayed below.] The fixed budget for 21,700 units of production shows sales of $455,700; variable costs of $65.100; and fixed costs of $143,000. If the company actually produces and sells 25,800 units, calculate the flexible budget income. -Flexible Budget- Flexible Budget at- Variable Amount Total Fixed per Unit Cost 26,800 units Sales Variable costs Contribution margin S 0 Fixed costs 0 Income 21,700 units $ S 0 $ 05

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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Garcia Company produces two different types of gauges: a density gauge and a thickness gauge. The segmented income statement for a typical quarter follows. DensityGauge ThicknessGauge Total Sales $ 150,000 $ 80,000 $ 230,000 Less variable expenses 80,000 46,000 126,000 Contribution margin $ 70,000 $ 34,000 $ 104,000 Less direct fixed expenses* 20,000 38,000 58,000 Segment margin $ 50,000 $ (4,000) $ 46,000 Less common fixed expenses 30,000 Operating income $ 16,000 * Includes depreciation. The density gauge uses a subassembly that is purchased from an external supplier for $25 per unit. Each quarter, 2,000 subassemblies are purchased. All units produced are sold, and there are no ending inventories of subassemblies. Garcia is considering making the subassembly rather than buying it. Unit-level variable manufacturing costs are as follows: Direct materials $2 Direct labor 3…
Manly Beach Enterprises projects the following information for the coming year. Sales Production 1,900 units 2,000 units Selling price per sewing machine Total variable manufacturing cost Total fixed manufacturing cost Marketing and administrative cost (40% variable based on sales) $200 $160,000 $60,000 $80,000 a. Determine the projected net income using absorption costing: $ b. Determine the projected net income using variable costing: $
In the current year, Becker Sofa Company expected to sell 12,900 leather sofas. Fixed costs for the year were expected to be $8,404,500; unit sales price was budgeted at $5,050; and unit variable costs were expected to be $2,650.Becker Sofa Company's margin of safety (MOS) in units is: Multiple Choice 9,698. 8,898. 10,798. 9,998. 9,398.
Contribution Margin Ratio a. Young Company budgets sales of $1,050,000, fixed costs of $80,300, and variable costs of $357,000. What is the contribution margin ratio for Young Company? D% b. If the contribution margin ratio for Martinez Company is 39%, sales were $627,000, and fixed costs were $190,730, what was the operating income?
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! Required information [The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: Revenue Employee salaries and wages Travel expenses Other expenses Fixed Element per Month $ 57,000 $ 36,000 Variable Element per Customer Served $ 5,800 $ 1,800 $ 950 Amount of other expenses Actual Total for May $ 217,000 $ 128, 100 $ 35,300 $ 34,400 When preparing its planning budget the company estimated that it would serve 35 customers per month; however, during May the company actually served 40 customers. 13. What amount of other expenses would be included in Adger's planning budget for May?
! Required information [The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: Revenue Employee salaries and wages Travel expenses Other expenses Fixed Element per Month $ 57,000 $ 36,000 Variable Element per Customer Served $ 5,800 $ 1,800 $950 Actual Total for May $ 217,000 $ 128,100 $ 35,300 $ 34,400 When preparing its planning budget the company estimated that it would serve 35 customers per month; however, during May the company actually served 40 customers. Amount of employees salaries and wages included in the planning budget 11. What amount of employee salaries and wages would be included in Adger's planning budget for May?
A company has the following information for one of its products: Standard per item (£) Actual per item (£) Selling price 20 22 Material 6 8 Labour 3 4 Variable overhead 2 4 It budgeted to sell 1,000 units but actually sold 100 less than this. What is the sales price variance? A £1,800 F B £2,000 F C £2,000 A D £1,800 A
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During the current year, Mute Corporation expected to sell 24,600 telephone switches. Fixed costs for the year were expected to be $12,147,000, the unit sales price was budgeted at $3,500, and unit variable costs were budgeted at $1,680. Mute's margin of safety (MOS) in units is Multiple Choice O O 17,925. 21,705. 23,015. 19,095. 17,795.