Chapter 23 Homework i 2 Saved Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $81 per unit and variable costs of $35 per unit. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. 1.17 points Flexible Budget Performance Report For Month Ended June 30 Flexible Budget Actual Results Variances Favorable or Unfavorable eBook (11,900 units) (11,900 units) Sales $ 963,900 $ 995,000 $ 31,100 Favorable Hint Variable costs 416,500 362,000 Print Contribution margin 547,400 54,500 Favorable Favorable References Fixed costs 281,000 296,000 (15,000) Unfavorable + Income Favorable Help Sa

Chapter 23 Homework i 2 Saved Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $81 per unit and variable costs of $35 per unit. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. 1.17 points Flexible Budget Performance Report For Month Ended June 30 Flexible Budget Actual Results Variances Favorable or Unfavorable eBook (11,900 units) (11,900 units) Sales $ 963,900 $ 995,000 $ 31,100 Favorable Hint Variable costs 416,500 362,000 Print Contribution margin 547,400 54,500 Favorable Favorable References Fixed costs 281,000 296,000 (15,000) Unfavorable + Income Favorable Help Sa

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter9: Profit Planning And Flexible Budgets

Section: Chapter Questions

Problem 62E: Flexible Budget for Various Levels of Production Budgeted amounts for the year: Required: 1. Prepare...

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Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1 Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $81 per unit and variable costs of $34 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended June 30 Sales Variable costs Contribution margin Fixed costs Income Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/Unfavorable (11,800 units) (11,800 units) $ 29,200 Favorable 361,000 Favorable 554,600 280,000 295,000 Favorable Unfavorable No variance
6 nts eBook Hint Ask C Print eferences C aw II =C Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $85 per unit and variable costs of $34 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended June 30 Sales Variable costs Contribution margin Fixed costs Income ! 1 Q A F1 N @ 2 W --- F2 S Flexible Budget Performance Report Flexible Budget Actual Results (12,300 units) (12,300 units) # 3 X 627,300 285,000 80 F3 E D 4 a F4 366,000 C 300,000 R % 5 F Variances Favorable/Unfavorable $ J B F7 H DII FB J N DD F9 9 K F10 0 Hel
Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1 Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $85 per unit and variable costs of $34 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended June 30 Sales Variable costs Contribution margin Fixed costs Income Flexible Budget Performance Report Flexible Budget Actual Results (12,300 units) (12,300 units) 627,300 285,000 366,000 300,000 Variances Favorable/Unfavorable $ 44,500 Favorable
Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1 Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $80 per unit and variable costs of $36 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Flexible Budget Performance Report Flexible Budget For Month Ended June 30 (11,500 units) Sales Variable costs Contribution margin Fixed costs Income Actual Results Variances Favorable/Unfavorable (11,500 units) $ 35,000 Favorable 358,000 506,000 277,000 292,000
3 ok t ances Required: Complete Iguana's budgeted income statement for quarter 2. (Round cost per unit in intermediate calculations and final answers to 2 decimal places.) Budgeted Gross Margin Budgeted Net Operating Income IGUANA, INC. Budgeted Income Statement For the Quarter Ending June 1 April May June 2nd Quarter Total
Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1 Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $89 per unit and variable costs of $34 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Flexible Budget Performance Report For Month Ended June 30 Sales Flexible Budget (12,600 units) Variable costs Contribution margin Fixed costs Income Actual Results (12,600 units) Variances Favorable/Unfavorable $ 28,600 Favorable 369,000 693,000 288,000 303,000
HW ch 9 Saved The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in Its budgeting and performance reports-the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 60 students enrolled in those two courses. Data concerning the company's cost formulas appear below: Fixed Cost Cost per Cost per per Month Course Student Instructor wages Classroom supplies Utilities $ 2,930 $ 290 $1,210 $ 4,900 $ 2,400 $ 3,600 ces 85 Campus rent Insurance Administrative expenses 45 For example, administrative expenses should be $3,600 per month plus $45 per course plus $7 per student The company's sales should average $870 per student The company planned to run four courses with a total of 60 students however, it actually ran four courses with a total of only 56 students. The actual operating results for September appear below: Actual 2 49,300 $ 11,000 $…
Req 1 Req 2A Req 2B Compute the variance for setup cost during the month, assuming that the actual setup cost was $3,000. Use DCdesserts's conventional flexible budget. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance). Variance Show less▲
Critique a Variance Report The Terminator Inc. A management intern has suggested that the budgeted revenues and costs should be adjusted for the actual level of activity in April before they are compared to the actual revenues and costs. Because the actual level of activity was 5% higher than budgeted, the intern suggested that all budgeted revenues and costs should be adjusted upward by 5%. A report comparing the budgeted revenues and costs, with this adjustment, to the actual revenues and costs appears below: Required: Is the above variance report useful for evaluating how well revenues and costs were controlled during April? Why or Why not?
Exercise 21-6 (Algo) Preparing flexible budget performance report LO P1 Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) \table[[,Fixed Budget,Actual Results],[Sales (units produced and sold),1,240,1,440],[Sales (in dollars),$500 per unit,$735,000
Sales Variances; Flexible-Budget Variance; Review of Chapter 14 Robinson Company hastwo products, A and B. Robinson’s budget for August follows:Master BudgetProduct A Product BSales $240,000 $300,000Variable cost 140,000 180,000Contribution margin $100,000 $120,000Fixed cost 80,000 40,000Operating income $ 20,000 $ 80,000Selling price $ 120 $ 50On September l, these operating results for August were reported:Operating ResultsProduct A Product BSales $180,400 $341,120Variable cost 106,600 216,480Contribution margin $ 73,800 $124,640Fixed cost 80,000 40,000Operating income $ (6,200) $ 84,640Units sold 1,640 6,560Required1. For each product, determine the following variances measured in dollars of contribution margin:a. Flexible-budget variance.b. Sales volume variance.c. Sales quantity variance.d. Sales mix variance.2. Explain the amount of the flexible-budget variance using the amounts of the selling price and variablecost variances.
x Thomas Co. provides the following fixed budget data for the year: Sales (20,000 units) Cost of sales: Direct materials Direct labor Variable overhead Fixed overhead Gross profit Operating expenses: Fixed Variable Income from operations The company's actual activity for the Sales (21,000 units) Cost of goods sold: Direct materials Direct labor Variable overhead Fixed overhead Gross profit Operating expenses: Fixed Variable Income from operations F3 $200,000 160.000 60,000 80,000 $ 12,000 40.000 year follows: $231.000 168,000 73.500 77.500 12.000 39.500 F6 $600,000 500,000 $100,000 52.000 $ 48,000 $651,000 550.000 $101.000 51.500 $49.500 F7 F8