The following static budget is provided:Per UnitTotal$900,000SalesLess variable costsManufacturing costsSelling and administrative costsContribution marginLess fixed costsManufacturing costsSelling and administrative costsTotal fixed costsNet income30450,000150,000$300,00010$2075,000125,000200,000$100.000What will be the overall volume variance if 12,000 units are produced and sold?Multiple Choice$80,000 F$80,000 U$60,000 U$160,000 U

Answered: The following static budget is…

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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Given below is an excerpt from a management performance report: Budget Difference Contribution margin Controllable fixed costs The manager's overall performance $600,000 $200,000 Ⓒa. b. C. Actual $580,000 $220,000 is 10% below expectations. is equal to expectations. is 10% above expectations. d. cannot be determined from the information provided. $20.000 U $20,000 U
Abu Dhabi Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing labor per case are $40, $8, and $12 respectively. The Managing Director of the The company is quite satisfied with the following performance report: out of Actual Cost Static Budget Variance question Direct materials $364,000 400,000 36,000 F Direct manufacturing labor 78,000 80,000 2.000 F Direct marketing labor 110,000 120,000 10,000 F Required: Based on the flexible budget analysis, provide justification on the Managing Director satisfaction on performance Give documented analysis
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The fixed budget for 20,800 units of production shows sales of $582,400; variable costs of $62,400; and fixed costs of $144,000. QS 23-3 (Algo) Flexible budget income calculation LO P1 If the company actually produces and sells 26,300 units, calculate the flexible budget income. Flexible Budget- Flexible Budget at s Variable Amount per Unit Total Fixed Cost 20,800 units 26.300 units Sales Variable costs 3 Contribution margin $ (3) $ 0 $ 78,900 (78,900) Fixed costs $ (78,900) income
Revenue (8,100 units) $16,200 Variable costs 4,050 Contribution margin $12,150 Fixed costs 4,050 Net income $ 8,100 If actual production totals 8,500 units, the flexible budget would show total costs of: Multiple Choice $8,300. None of these answers are correct. $8,400. $16,600.
Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2022. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather's support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,250 to move their personal belongings, and she and Heather spent two days driving the 1,600 miles to Georgia. Reba rented a home in…
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Flexible Analysis Report Actual Flexible Sales-Volume Static Budget Results Budget Variances Budget Variance 18,500 A) B) C) 20,000 Units Sold D) $185,000 Fav E) F) G) Revenues H $92,500 Un I) $90,000 Fav J) Variable Costs K) $50,000 Fav L) M) $500,000 Fixed Costs N) O) P) Q) R) Operating Income A) B) C) D) E) F) G) H) I) J) K) L) M) N) O) P) Q) Q)
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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
Contribution Margin Variance Iliff, Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted Amounts: ToasterOven ConvectionOven Total Sales: ($100 × 26,000) $2,600,000 ($145 × 16,000) $2,320,000 $4,920,000 Variable expenses 455,000 750,000 1,205,000 Contribution margin $2,145,000 $1,570,000 $3,715,000 Actual Amounts: ToasterOven ConvectionOven Total Sales: ($80 × 24,500) $1,960,000 ($165 × 13,500) $2,227,500 $4,187,500 Variable expenses 500,000 703,400 1,203,400 Contribution margin $1,460,000 $1,524,100 $2,984,100 Required: 1. Calculate the contribution margin variance.

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