Titanium Blades refines titanium for use in all brands of razor blades. It prepared a static budget for the sales of 4,500 units. The following variances were observed: Actual Results Variances Units Sales Variable Expenses Fixed Expenses Net Income (loss) $137,500 $25,000 Favorable 71,200 12,700 Unfavorable 63,400 400 Unfavorable $2,900 $11.900 Unfavorable Determine the static budget and use the information to prepare a flexible budget and analysis for the 5,500 units actually sold. If no effect, select "No Effect" and leave th numbers use a minus sign. Units Sales Variable Expenses Fixed Expenses Net Income (Loss) Static budget 4,500 112,500 ✔ 58,500 X 63,000 X -9,000 ✓ Flexible budget Actual Results 5,500✔ 137,500 ✔ 71,500 X 77,000 X -11,000 X 137,500 71,300 X 63,300 X 2,900 ✓ Variances No Effect 200 x Favorable 13,700 X Unfavorable 13,900 X Unfavorable

Titanium Blades refines titanium for use in all brands of razor blades. It prepared a static budget for the sales of 4,500 units. The following variances were observed: Actual Results Variances Units Sales Variable Expenses Fixed Expenses Net Income (loss) $137,500 $25,000 Favorable 71,200 12,700 Unfavorable 63,400 400 Unfavorable $2,900 $11.900 Unfavorable Determine the static budget and use the information to prepare a flexible budget and analysis for the 5,500 units actually sold. If no effect, select "No Effect" and leave th numbers use a minus sign. Units Sales Variable Expenses Fixed Expenses Net Income (Loss) Static budget 4,500 112,500 ✔ 58,500 X 63,000 X -9,000 ✓ Flexible budget Actual Results 5,500✔ 137,500 ✔ 71,500 X 77,000 X -11,000 X 137,500 71,300 X 63,300 X 2,900 ✓ Variances No Effect 200 x Favorable 13,700 X Unfavorable 13,900 X 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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