Vitamin-Sea is a company that specializes in making tents for beach tourism. Vitamin-Sea wants all of its customers to feel comfortable when traveling to the beach. The company aims to sell 3,000 units of tents at a selling price of $ 50 in July. They certainly have employees and also direct labor who help the production, with the formula for calculating salaries and wages is $ 2,000 for fixed costs and $ 20 for variable costs. For tent-making materials, parachutes are used for $ 3 and maintenance equipment is $ 5 per unit. In addition to Utilities for $ 1,500 for July, Factory and Office Rent for $ 10,000, Equipment Depreciation for $ 20,000 and insurance for $ 1,500. All variable cost are counted based on unit produce and sold. At the end of July, here are the actual results obtained by Vitamin-Sea: | Actual Result Quantity produced and sold 3,500 200,000 Revenue Expenses |Wages and Salaries Direct Material Equipment maintenance Utilities Factory and Office Rent Equipment Depreciation Insurance 73,000 10,000 $ $ 17,000 3,000 12,000 20,000 1,500 Calculate the Flexible budget with all the variances

Vitamin-Sea is a company that specializes in making tents for beach tourism. Vitamin-Sea wants all of its customers to feel comfortable when traveling to the beach. The company aims to sell 3,000 units of tents at a selling price of $ 50 in July. They certainly have employees and also direct labor who help the production, with the formula for calculating salaries and wages is $ 2,000 for fixed costs and $ 20 for variable costs. For tent-making materials, parachutes are used for $ 3 and maintenance equipment is $ 5 per unit. In addition to Utilities for $ 1,500 for July, Factory and Office Rent for $ 10,000, Equipment Depreciation for $ 20,000 and insurance for $ 1,500. All variable cost are counted based on unit produce and sold. At the end of July, here are the actual results obtained by Vitamin-Sea: | Actual Result Quantity produced and sold 3,500 200,000 Revenue Expenses |Wages and Salaries Direct Material Equipment maintenance Utilities Factory and Office Rent Equipment Depreciation Insurance 73,000 10,000 $ $ 17,000 3,000 12,000 20,000 1,500 Calculate the Flexible budget with all the variances

Name: Vitamin-Sea is a company that specializes in making tents for beach t
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Description: Vitamin-Sea is a company that specializes in making tents for beach tourism. Vitamin-Sea wantsall of its customers to feel comfortable when traveling to the beach. The company aims to sell3,000 units of tents at a selling price of $ 50 in July. They

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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