Fixed Budget Performance Report: Fixed Budget Performance Report is reporting that compares the actual results with fixed budget figures. This report calculates the differences between the figures of the actual and fixed budget. The limit on the use of Fixed Budget Performance Report for managers

Question

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Answer 1

Question

Chapter 23, Problem 1DQ

To determine

Introduction:

Fixed Budget Performance Report:

Fixed Budget Performance Report is reporting that compares the actual results with fixed budget figures. This report calculates the differences between the figures of the actual and fixed budget.

The limit on the use of Fixed Budget Performance Report for managers

Expert Solution & Answer

Answer to Problem 1DQ

Solution: A fixed Budget Performance Report shows the variances between actual and budgeted figures but it does not show the flexible budget variances.

Explanation of Solution

A fixed budget is prepared at an expected level of activity, but the actual level of activity may differ. A Fixed Budget Performance Report compares the actual results with fixed budget figures, that may be useful for managers to see the total variance, but it does not bifurcate the variance in Activity and flexible budget variance. To evaluate the actual variances flexible budget variance analysis is necessary for the management, which is not provided by the Fixed Budget Performance Report.

Conclusion

Hence, it can be concluded that a fixed Budget Performance Report shows the variances between actual and budgeted figures.

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Chapter 15 Homework 13 Saved Help Save & Exit Submit Part 1 of 2 0.83 points eBook Ask Required information Use the following information to answer questions. (Algo) [The following information applies to the questions displayed below.] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $100,800 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 Total direct materials Indirect materials Total materials used $ 49,000 24,400 73,400 9,420 $ 82,820 c. Time tickets show the following labor used for the month. Print References Job 201 $ 40,000 Job 202 13,400 Total direct labor 53,400 25,000 $ 78,400 Indirect labor Total labor used d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. Sold Job 201 for $166,160 on credit. g. Incurred the following actual other…

quesrion 2

Anti-Pandemic Pharma Co. Ltd. reports the following information in its income statement: Sales = $5,250,000; Costs = $2, 173,000; Other expenses = $187,400; Depreciation expense = $79,000; Interest expense= $53,555; Taxes $76,000; Dividends $69,000. $136,700 worth of new shares were also issued during the year and long-term debt worth $65,300 was redeemed. a) Compute the cash flow from assets b) Compute the net change in working capital (325 marks)

Answer 2

Question

Chapter 23, Problem 1DQ

To determine

Introduction:

Fixed Budget Performance Report:

Fixed Budget Performance Report is reporting that compares the actual results with fixed budget figures. This report calculates the differences between the figures of the actual and fixed budget.

The limit on the use of Fixed Budget Performance Report for managers

Expert Solution & Answer

Answer to Problem 1DQ

Solution: A fixed Budget Performance Report shows the variances between actual and budgeted figures but it does not show the flexible budget variances.

Explanation of Solution

A fixed budget is prepared at an expected level of activity, but the actual level of activity may differ. A Fixed Budget Performance Report compares the actual results with fixed budget figures, that may be useful for managers to see the total variance, but it does not bifurcate the variance in Activity and flexible budget variance. To evaluate the actual variances flexible budget variance analysis is necessary for the management, which is not provided by the Fixed Budget Performance Report.

Conclusion

Hence, it can be concluded that a fixed Budget Performance Report shows the variances between actual and budgeted figures.

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Answer 3

Question

Chapter 23, Problem 1DQ

To determine

Introduction:

Fixed Budget Performance Report:

Fixed Budget Performance Report is reporting that compares the actual results with fixed budget figures. This report calculates the differences between the figures of the actual and fixed budget.

The limit on the use of Fixed Budget Performance Report for managers

Expert Solution & Answer

Answer to Problem 1DQ

Solution: A fixed Budget Performance Report shows the variances between actual and budgeted figures but it does not show the flexible budget variances.

Explanation of Solution

A fixed budget is prepared at an expected level of activity, but the actual level of activity may differ. A Fixed Budget Performance Report compares the actual results with fixed budget figures, that may be useful for managers to see the total variance, but it does not bifurcate the variance in Activity and flexible budget variance. To evaluate the actual variances flexible budget variance analysis is necessary for the management, which is not provided by the Fixed Budget Performance Report.

Conclusion

Hence, it can be concluded that a fixed Budget Performance Report shows the variances between actual and budgeted figures.

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Answer 4

Question

Chapter 23, Problem 1DQ

To determine

Introduction:

Fixed Budget Performance Report:

Fixed Budget Performance Report is reporting that compares the actual results with fixed budget figures. This report calculates the differences between the figures of the actual and fixed budget.

The limit on the use of Fixed Budget Performance Report for managers

Expert Solution & Answer

Answer to Problem 1DQ

Solution: A fixed Budget Performance Report shows the variances between actual and budgeted figures but it does not show the flexible budget variances.

Explanation of Solution

A fixed budget is prepared at an expected level of activity, but the actual level of activity may differ. A Fixed Budget Performance Report compares the actual results with fixed budget figures, that may be useful for managers to see the total variance, but it does not bifurcate the variance in Activity and flexible budget variance. To evaluate the actual variances flexible budget variance analysis is necessary for the management, which is not provided by the Fixed Budget Performance Report.

Conclusion

Hence, it can be concluded that a fixed Budget Performance Report shows the variances between actual and budgeted figures.

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Answer 5

Chapter 23, Problem 1DQ

To determine

Introduction:

Fixed Budget Performance Report:

Fixed Budget Performance Report is reporting that compares the actual results with fixed budget figures. This report calculates the differences between the figures of the actual and fixed budget.

The limit on the use of Fixed Budget Performance Report for managers

Expert Solution & Answer

Answer to Problem 1DQ

Solution: A fixed Budget Performance Report shows the variances between actual and budgeted figures but it does not show the flexible budget variances.

Explanation of Solution

A fixed budget is prepared at an expected level of activity, but the actual level of activity may differ. A Fixed Budget Performance Report compares the actual results with fixed budget figures, that may be useful for managers to see the total variance, but it does not bifurcate the variance in Activity and flexible budget variance. To evaluate the actual variances flexible budget variance analysis is necessary for the management, which is not provided by the Fixed Budget Performance Report.

Conclusion

Hence, it can be concluded that a fixed Budget Performance Report shows the variances between actual and budgeted figures.

Answer 6

Chapter 23, Problem 1DQ

To determine

Introduction:

Fixed Budget Performance Report:

Fixed Budget Performance Report is reporting that compares the actual results with fixed budget figures. This report calculates the differences between the figures of the actual and fixed budget.

The limit on the use of Fixed Budget Performance Report for managers

Expert Solution & Answer

Answer to Problem 1DQ

Solution: A fixed Budget Performance Report shows the variances between actual and budgeted figures but it does not show the flexible budget variances.

Explanation of Solution

A fixed budget is prepared at an expected level of activity, but the actual level of activity may differ. A Fixed Budget Performance Report compares the actual results with fixed budget figures, that may be useful for managers to see the total variance, but it does not bifurcate the variance in Activity and flexible budget variance. To evaluate the actual variances flexible budget variance analysis is necessary for the management, which is not provided by the Fixed Budget Performance Report.

Conclusion

Hence, it can be concluded that a fixed Budget Performance Report shows the variances between actual and budgeted figures.

Answer 7

Chapter 23, Problem 1DQ

To determine

Introduction:

Fixed Budget Performance Report:

Fixed Budget Performance Report is reporting that compares the actual results with fixed budget figures. This report calculates the differences between the figures of the actual and fixed budget.

The limit on the use of Fixed Budget Performance Report for managers

Answer 8

Expert Solution & Answer

Answer to Problem 1DQ

Solution: A fixed Budget Performance Report shows the variances between actual and budgeted figures but it does not show the flexible budget variances.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

A fixed budget is prepared at an expected level of activity, but the actual level of activity may differ. A Fixed Budget Performance Report compares the actual results with fixed budget figures, that may be useful for managers to see the total variance, but it does not bifurcate the variance in Activity and flexible budget variance. To evaluate the actual variances flexible budget variance analysis is necessary for the management, which is not provided by the Fixed Budget Performance Report.

Answer 12

Conclusion

Hence, it can be concluded that a fixed Budget Performance Report shows the variances between actual and budgeted figures.

Answer 13

Ch. 23 - Prob. 1DQ Ch. 23 - Prob. 2DQ Ch. 23 - Prob. 3DQ Ch. 23 - Prob. 4DQ Ch. 23 - Prob. 5DQ Ch. 23 - Prob. 6DQ Ch. 23 - Prob. 7DQ Ch. 23 - Prob. 8DQ Ch. 23 - Prob. 9DQ Ch. 23 - Prob. 10DQ

Fixed Budget Performance Report: Fixed Budget Performance Report is reporting that compares the actual results with fixed budget figures. This report calculates the differences between the figures of the actual and fixed budget. The limit on the use of Fixed Budget Performance Report for managers

Answer to Problem 1DQ

Explanation of Solution

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Chapter 23 Solutions