The following is a partial performance report for a revenue center for the Southwest S10-5 Calculate performance report variar Division of Hosta Restaurants. Hosta Restaurants Sales Revenue-Southwest Division For the Month Ended June 30 Variance Product Actual Sales Budgeted Sales Variance Percentage Food $ 144,300 $ 148,000 ? ? Dessert 16,100 17,500 Bar 52,250 55,000 ? Catering 39,480 42,000

The following is a partial performance report for a revenue center for the Southwest S10-5 Calculate performance report variar Division of Hosta Restaurants. Hosta Restaurants Sales Revenue-Southwest Division For the Month Ended June 30 Variance Product Actual Sales Budgeted Sales Variance Percentage Food $ 144,300 $ 148,000 ? ? Dessert 16,100 17,500 Bar 52,250 55,000 ? Catering 39,480 42,000

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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Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month's budget appear below: Selling price per unit Variable expense per unit Fixed expense per month Unit sales per month $ 29 $ 13 $ 14,080 1,030 Required: 1. What is the company's margin of safety? (Do not round intermediate calculations.) 2. What is the company's margin of safety as a percentage of its sales? (Round your percentage answer to 2 decimal places (i.e. 1234 should be entered as 12.34).) 1. Margin of safety (in dollars) 2. Margin of safety percentage %
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The following information was drawn from the accounting records of Ashton Company. Budgeted Actual Sales $ 10,000 $ 13,000 Cost of Goods Sold (5,000 ) (6,600 ) Gross Margin 5,000 6,400 Variable Cost (2,000 ) (2,700 ) Fixed Cost (2,500 ) (1,900 ) Net Income $ 500 $ 1,800 Based on this information Ashton Company has a Multiple Choice $1,300 favorable sales variance $1,300 unfavorable sales variance $3,000 favorable sales variance $3,000 unfavorable sales variance
JAR-174 tour company uses two measures of activity, routes and passengers in its cost formulas used for budgeting and performance evaluation. The cost formula for tour operating costs is $56,850 per month plus $2,884 per route plus $18 per passenger. The company expected in August to perform 89 routes and serve 255 passengers, but the actual activity was 95 routes and 270 passengers. The actual tour operating costs in August was $305,100. The spending variance for tour operating costs in August would be closest to: Multiple Choice O O $17,574 Favorable $30,590 Favorable $30,590 Unfavorable $13,016 Favorable $13 016 Unfavorable
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Production and sales estimates for March for Robin Co. are as follows: Estimated inventory ( units), March 117,100 Desired inventory (units), March 31 19,700 Expected sales volume ( units): Area M 6,500 Area L 9,300 Area O 7, 100 Unit sales price $17 Budgeted production for March is a. 42, 600 b. 22,900 c. 59,700 d. 25,500
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Relevant data from the Poster Company’s operating budgets are: Quarter 1 Quarter 2 Sales $208,470 $211,539 Direct material purchases 115,290 120,832 Direct labor 75,205 73,299 Manufacturing overhead 25,400 25,400 Selling and administrative expenses 33,400 33,400 Depreciation included in selling and administrative 1,400 1,100 Collections from customers 215,391 240,154 Cash payments for purchases 114,300 119,253 Additional data:Capital assets were sold in January for $9,000 and $4,600 in May.Dividends of $4,400 were paid in February. The beginning cash balance was $60,359 and a required minimum cash balance is $58,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 Beginning Cash Balance $fill in the blank 2 $fill in the blank 3 Add: Cash Receipts Collections from…
A company offers three products, A,B,C The current budget for the upcoming accounting period is presented below, by product: A B C # of units 18 12 30 Selling price per unit ($) 75 50 60 Variable cost per unit ($) 25 20 15 Fixed costs (total $) 500 360 900 There is a different customer market for each of these products. Fixed costs reflect product-specific machinery. Required 1. Identify which of the two methods to compute the break-even point best suits this scenario. 2. Describe why the method you identified in (1) best suits this scenario. 3. Compute the break-even point in units using this method.
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Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost Employee Hours January $6,800 390 February $9,699 580 March $7,940 670 April $9,587 640 May $8,290 510 June $7,331 380 July $9,290 600 August $7,250 340 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost = $6539 + ($2.09 x Employee Hours) Required: Assume that 705 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calculations: 1. Calculate total variable labor cost for September. Round your answer to nearest whole number. 2. Calculate total labor cost for September. Round your answer to nearest whole number.