Classification of items into fixed or variable: A fixed or static budget is a budget that do not tend to change with changes in volume or production while flexible budget is a budget that tends to change with change in volume or production. Classification of items into fixed or variable cost and to determine their per unit amount or annual amount, as the case may be.

Question

Want to see the full answer?

Answer 1

Question

Chapter 23, Problem 1PSA

To determine

Classification of items into fixed or variable:

A fixed or static budget is a budget that do not tend to change with changes in volume or production while flexible budget is a budget that tends to change with change in volume or production.

Classification of items into fixed or variable cost and to determine their per unit amount or annual amount, as the case may be.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 18,000 units.

4.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 12,000 units.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

I am looking for the correct answer to this general accounting question with appropriate explanations.

The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: Line Item Description September October November Sales $105,000 $128,000 $172,000 Manufacturing costs 44,000 55,000 62,000 Selling and administrative expenses 37,000 38,000 65,000 Capital expenditures 41,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $8,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Current…

Cariman contracts delivery drivers to service customers. Cariman owns the vans and pays for the gas. With reference to the following independent situations for Cariman, determine where (a) responsibility and (b) controllability lie. Suggest what might be done to solve the problem or to improve the situation: 1. Gasoline costs for each van are budgeted based on the service area of the van and the amount of driving expected for the month. The driver of van 3 routinely has monthly gasoline costs exceeding the budget for van 3. After investigating, the service manager finds that the driver has been driving the van for personal use.2) Cariman’s delivery drivers are paid an hourly wage, with overtime pay if they exceed 40 hours per week, excluding driving time. Speedy Gonzales, one of the delivery drivers, frequently exceeds 40 hours per week. Customers are happy with Speedy’s work, but the delivery manager talks to him constantly about working more quickly. Speedy’s overtime causes the…

Answer 2

Question

Chapter 23, Problem 1PSA

To determine

Classification of items into fixed or variable:

A fixed or static budget is a budget that do not tend to change with changes in volume or production while flexible budget is a budget that tends to change with change in volume or production.

Classification of items into fixed or variable cost and to determine their per unit amount or annual amount, as the case may be.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 18,000 units.

4.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 12,000 units.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 23, Problem 1PSA

To determine

Classification of items into fixed or variable:

A fixed or static budget is a budget that do not tend to change with changes in volume or production while flexible budget is a budget that tends to change with change in volume or production.

Classification of items into fixed or variable cost and to determine their per unit amount or annual amount, as the case may be.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 18,000 units.

4.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 12,000 units.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 23, Problem 1PSA

To determine

Classification of items into fixed or variable:

A fixed or static budget is a budget that do not tend to change with changes in volume or production while flexible budget is a budget that tends to change with change in volume or production.

Classification of items into fixed or variable cost and to determine their per unit amount or annual amount, as the case may be.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 18,000 units.

4.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 12,000 units.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 23, Problem 1PSA

To determine

Classification of items into fixed or variable:

A fixed or static budget is a budget that do not tend to change with changes in volume or production while flexible budget is a budget that tends to change with change in volume or production.

Classification of items into fixed or variable cost and to determine their per unit amount or annual amount, as the case may be.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 18,000 units.

4.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 12,000 units.

Answer 6

Chapter 23, Problem 1PSA

To determine

Classification of items into fixed or variable:

A fixed or static budget is a budget that do not tend to change with changes in volume or production while flexible budget is a budget that tends to change with change in volume or production.

Classification of items into fixed or variable cost and to determine their per unit amount or annual amount, as the case may be.

Answer 7

Chapter 23, Problem 1PSA

To determine

Classification of items into fixed or variable:

A fixed or static budget is a budget that do not tend to change with changes in volume or production while flexible budget is a budget that tends to change with change in volume or production.

Classification of items into fixed or variable cost and to determine their per unit amount or annual amount, as the case may be.

Answer 8

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

Answer 9

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

Answer 10

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 18,000 units.

Answer 11

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 18,000 units.

Answer 12

4.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 12,000 units.

Answer 13

4.

To determine

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 12,000 units.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 17

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

Concept explainers

Videos

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 18,000 units.

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 12,000 units.

Want to see the full answer?

Chapter 23 Solutions

Concept explainers

Videos

Flexible budget: A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity. Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

Flexible budget: A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity. Preparation of flexible budget at sales volume of 18,000 units.

Flexible budget: A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity. Preparation of flexible budget at sales volume of 12,000 units.

Want to see the full answer?

Chapter 23 Solutions

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 14,000 and 16,000 units.

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 18,000 units.

Flexible budget:

A flexible budget is a budget that tends to change with change in volume or production. Flexible budget is more useful than fixed budget as it reflects the cost in proportionate to the level of activity.

Preparation of flexible budget at sales volume of 12,000 units.