Titanium Blades refines titanium for use in all brands of razor blades. It prepared a static budget for the sales of 5,500 units. The following variances were observed: Actual ResultsVariancesUnits Sales$175,500$27,000FavorableVariable Expenses84,30012,800UnfavorableFixed Expenses88,300300UnfavorableNet Income (loss)$2,900$13,900UnfavorableDetermine the static budget and use the information to prepare a flexible budget and analysis for the 6,500 units actually sold. If no effect, select "No Effect" and leave the amount boxes blank. For those boxes in which you must enter negative numbers use a minus sign. (Example: -300). Static budgetFlexible budgetActual ResultsVariancesUnitsfill in the blank 1fill in the blank 2 Sales$fill in the blank 3$fill in the blank 4$fill in the blank 5$fill in the blank 6No Effect Variable Expensesfill in the blank 8fill in the blank 9fill in the blank 10fill in the blank 11Favorable Fixed Expensesfill in the blank 13fill in the blank 14fill in the blank 15fill in the blank 16Unfavorable Net Income (Loss)$fill in the blank 18$fill in the blank 19$fill in the blank 20$fill in the blank 21Unfavorable Titanium Blades refines titanium for use in all brands of razor blades. It prepared a static budget for the sales of 5,500 units. The following variances were observed:Actual ResultsVariancesUnitsSales$175,500$27,000 FavorableVariable Expenses84,30012,800 UnfavorableFixed Expenses88,300300 UnfavorableNet Income (loss)$2,900 $13,900 UnfavorableDetermine the static budget and use the information to prepare a flexible budget and analysis for the 6,500 units actually sold. If no effect, select "No Effect" and leavethe amount boxes blank. For those boxes in which you must enter negative numbers use a minus sign. (Example: -300).Static budgetFlexible budgetActual ResultsVariancesUnits5,500Sales2$No EffectVariable ExpensesFavorable vFixed ExpensesUnfavorable vNet Income (Loss)2$$$Unfavorable

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Answered: Titanium Blades refines titanium for…

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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Titanium Blades refines titanium for use in all brands of razor blades. It prepared a static budget for the sales of 5,500 units. The following variances were observed:

	Actual Results	Variances
Units
Sales	$175,500	$27,000	Favorable
Variable Expenses	84,300	12,800	Unfavorable
Fixed Expenses	88,300	300	Unfavorable
Net Income (loss)	$2,900	$13,900	Unfavorable

Determine the static budget and use the information to prepare a flexible budget and analysis for the 6,500 units actually sold. If no effect, select "No Effect" and leave the amount boxes blank. For those boxes in which you must enter negative numbers use a minus sign. (Example: -300).

	Static budget	Flexible budget	Actual Results	Variances
Units	fill in the blank 1	fill in the blank 2
Sales	$fill in the blank 3	$fill in the blank 4	$fill in the blank 5	$fill in the blank 6	No Effect
Variable Expenses	fill in the blank 8	fill in the blank 9	fill in the blank 10	fill in the blank 11	Favorable
Fixed Expenses	fill in the blank 13	fill in the blank 14	fill in the blank 15	fill in the blank 16	Unfavorable
Net Income (Loss)	$fill in the blank 18	$fill in the blank 19	$fill in the blank 20	$fill in the blank 21	Unfavorable

Titanium Blades refines titanium for use in all brands of razor blades. It prepared a static budget for the sales of 5,500 units. The following variances were observed:
Actual Results
Variances
Units
Sales
$175,500
$27,000 Favorable
Variable Expenses
84,300
12,800 Unfavorable
Fixed Expenses
88,300
300 Unfavorable
Net Income (loss)
$2,900 $13,900 Unfavorable
Determine the static budget and use the information to prepare a flexible budget and analysis for the 6,500 units actually sold. If no effect, select "No Effect" and leave
the amount boxes blank. For those boxes in which you must enter negative numbers use a minus sign. (Example: -300).
Static budget
Flexible budget
Actual Results
Variances
Units
5,500
Sales
2$
No Effect
Variable Expenses
Favorable v
Fixed Expenses
Unfavorable v
Net Income (Loss)
2$
$
$
Unfavorable

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