The following is data collected by Bees Co. for the month of JuneStatic budget data:SalesVariable costs11,000 units $38/unit$27 per unit$23,100Total fixed costsActuel results:619SalesVariable costsTotal fixed costs12,000 units $37/unit$28 per unit$22,100Required:Prepare the flexible budgets and show the flexible budget variances by completing the table given below. Indicate the effect of eachvarionce by selecting "F for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero voriance).FlexibleFavourableUnfavourableStaticFlexibleBudgetVarianceActualBudgetBudgetSales (units)Revenue ($)Variable expenses (S)Fixed expenses (5)Income (S)11,000418,000297,00023.10097,100(Clck to select)(Cick to select) v(Cick to select)(Click to select)

The variance is the difference between the actual data and standard output of the production.

The following is data collected by Bees Co. for the month of June: Static budget data: Sales Variable costs Total fixed costs Actuel results: 11,000 units $3/unit $27 per unit $23,100 Sales Varlable costs Total fixed costs 12,000 units 537/unit $28 per unit $22,100 tequired: Prepare the flexible budgets and show the flexible budget variances by completing the table given below. Indicate the effect ariance by selecting "F for favourable, "U" for unfavourable, and "None" for no effect (le. zero varience). Flexible Budget Variance Favourable Unfavourable Static Flexible Actual Budget Budget Sales (units) Revenue ($) Wariable expenses (S) Fixed expenses (5) ncome ($) 11,000 418,000 297,000 23,100 97100 (Cick to select) (Cick to select) Cick to select) v (Click to select)

The following is data collected by Bees Co. for the month of June: Static budget data: Sales Variable costs Total fixed costs Actuel results: 11,000 units $3/unit $27 per unit $23,100 Sales Varlable costs Total fixed costs 12,000 units 537/unit $28 per unit $22,100 tequired: Prepare the flexible budgets and show the flexible budget variances by completing the table given below. Indicate the effect ariance by selecting "F for favourable, "U" for unfavourable, and "None" for no effect (le. zero varience). Flexible Budget Variance Favourable Unfavourable Static Flexible Actual Budget Budget Sales (units) Revenue ($) Wariable expenses (S) Fixed expenses (5) ncome ($) 11,000 418,000 297,000 23,100 97100 (Cick to select) (Cick to select) Cick to select) v (Click to select)

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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Ray Company provided the following excerpts from its Production Department's flexible budget performance report. Required: Complete the Production Department's Flexible Budget Performance Report. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places. Labor-hours (q) Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory administration Total expenses $ $ $ 7,300 (9) + + + 80,400 18.860 + Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results $ $ 1.70 (q) (9) (9) 1.70 (9) $ $ 9,560 174,170 5,052 339,328 Spending Variances 1,108 F 1,530 U 0 None Flexible Budget $ 172,080 23,752 4,524 Activity Variances 720 U 0 None Planning Budget 9,080 20,920 4,380