Top managers of Juda Industries predicted 2018 sales of 14,700 units of its product at a unit price of $7.00. Actual sales for the year were 14,000 units af $11.00 each. Variable costs were budgeted at $2.60 per unit, and actual variable costs were $2.70 per unit. Actual fixed costs of $45,000 exceeded budgeted fixed costs by $2,000. Prepare Juda's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance?7 Prepare a flexibie budget performance report for the year. First, complete the flexible budget performance report through the contribution margin line, then complete the report through the operating income line. Finally, compute the total variances. (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (FYUnfavorable (U) input blank.)

Top managers of Juda Industries predicted 2018 sales of 14,700 units of its product at a unit price of $7.00. Actual sales for the year were 14,000 units af $11.00 each. Variable costs were budgeted at $2.60 per unit, and actual variable costs were $2.70 per unit. Actual fixed costs of $45,000 exceeded budgeted fixed costs by $2,000. Prepare Juda's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance?7 Prepare a flexibie budget performance report for the year. First, complete the flexible budget performance report through the contribution margin line, then complete the report through the operating income line. Finally, compute the total variances. (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (FYUnfavorable (U) input blank.)

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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