EBK ACCOUNTING PRINCIPLES
EBK ACCOUNTING PRINCIPLES
13th Edition
ISBN: 9781119411017
Author: Weygandt
Publisher: WILEY
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Chapter 25, Problem 5BE
To determine

Introduction:

The flexible budget compares the performance by considering actual activity as a base level of measurement. Unlike a static budget, a flexible budget considers the activity level of actual operations as a common platform to compare the cost or revenue.

To prepare: The flexible budget report. Also, state whether the costs were controlled or not.

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Ridgeline Plastics manufactures high-strength plastics for aerospace components. In 2021, the company produced 6,000 tons of plastic but sold 3,800 tons. In 2022, it produced the same amount but sold 7,500 tons (selling all its inventory). The selling price per ton was $1,950, variable manufacturing costs per ton were $450, and variable selling expenses were $550 per ton. Fixed manufacturing costs were $4,200,000, and fixed administrative expenses were $700,000. Compute net income under variable costing for 2021.

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EBK ACCOUNTING PRINCIPLES

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