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3. The static budget (ie the origional budget) of the Tam-Taha Corporation showed a production cost...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units Sales price of $40 per unit Variable expenses of $9.90 per unit Fixed costs of $3,050,000 for the year At year end, actual sales data and costs were: Sales of 125,000 units Sales price of $38 per unit Variable expenses of $10.50 per unit Fixed costs of $3,000,000 for the year Create an Income Statement Performance Report, including favourable/unfavourable ratings for all Flex Budget...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units Sales price of $40 per unit Variable expenses of $9.90 per unit Fixed costs of $3,050,000 for the year At year end, actual sales data and costs were: Sales of 125,000 units Sales price of $38 per unit Variable expenses of $10.50 per unit Fixed costs of $3,000,000 for the year Create an Income Statement Performance Report, including favourable/unfavourable ratings for all Flex Budget...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units...
CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,000 units Sales price of $40 per unit Variable expenses of $9.90 per unit Fixed costs of $3,050,000 for the year At year end, actual sales data and costs were: Sales of 125,000 units Sales price of $38 per unit Variable expenses of $10.50 per unit Fixed costs of $3,000,000 for the year Create an Income Statement Performance Report, including favourable/unfavourable ratings for all Flex Budget...
QUESTION 1 (40 points) CC Corp estimated the following financial data, for the 2020 production budget:...
QUESTION 1 (40 points) CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,00o units Sales price of $40 per unit Variable expenses of $9.90 per unit Fixed costs of $3,050,000 for the year At year end, actual sales data and costs were: Sales of 125,000 units Sales price of $38 per unit Variable expenses of $10.50 per unit Fixed costs of $3,000,000 for the year A. Create an Income Statement Performance Report, including favourable/unfavourable...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system....
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 400,000 $430,000 Variable costs $1,250,000 $1,500,000 Fixed costs $1.500,000 $1,290,000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold Revenues Variable costs...
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system....
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 685,000 700,000 Variable costs 1,850,000 2,100,000 Fixed costs 1,525,000 1,485,000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold Revenues Variable costs...
3 Kappa Company's master budget calls for the production of 6,000 units of product monthly. The...
3 Kappa Company's master budget calls for the production of 6,000 units of product monthly. The master budget includes indirect labour of $396,000 annually; Kappa considers indirect labour to be a variable cost. During the month of September 5,600 units of product were produced, and indirect labour costs of $30,970 were Copyright 2019 Pearson Canada Inc. 7-12 Instructor's Resource Manual for Cost Accounting, 8Ce incurred. A performance report utilizing flexible budgeting would report a flexible budget variance for indirect labour...
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system....
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 495,000 500.000 Variable costs 1,250,000 1,500,000 Fixed costs 925,000 900.000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold 0X $ OX$...
Static and flexible Budgets Graham Corporation used the following data to evaluate its current operating system....
Static and flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 1432.000 1.500,000 Variable costs 2015.000 2000.000 Food costs 2,490,000 2.425.000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold Revenues Variable costs...
QUESTION 1 (40 points) CC Corp estimated the following financial data, for the 2020 production budget: Sales of 122,00o units Sales price of $40 per unit Variable expenses of $9.90 per unit Fixed costs of $3,050,000 for the year At year end, actual sales data and costs were: Sales of 125,000 units Sales price of $38 per unit Variable expenses of $10.50 per unit Fixed costs of $3,000,000 for the year A. Create an Income Statement Performance Report, including favourable/unfavourable...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 400,000 $430,000 Variable costs $1,250,000 $1,500,000 Fixed costs $1.500,000 $1,290,000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold Revenues Variable costs...
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 685,000 700,000 Variable costs 1,850,000 2,100,000 Fixed costs 1,525,000 1,485,000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold Revenues Variable costs...
3 Kappa Company's master budget calls for the production of 6,000 units of product monthly. The master budget includes indirect labour of $396,000 annually; Kappa considers indirect labour to be a variable cost. During the month of September 5,600 units of product were produced, and indirect labour costs of $30,970 were Copyright 2019 Pearson Canada Inc. 7-12 Instructor's Resource Manual for Cost Accounting, 8Ce incurred. A performance report utilizing flexible budgeting would report a flexible budget variance for indirect labour...
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 495,000 500.000 Variable costs 1,250,000 1,500,000 Fixed costs 925,000 900.000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold 0X $ OX$...
Static and flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 1432.000 1.500,000 Variable costs 2015.000 2000.000 Food costs 2,490,000 2.425.000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold Revenues Variable costs...
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