Homework Answers
OPTION: both fixed manufacturing costs and fixed selling and administrative expenses
EXPLANATION:
static budget is a budget used to project data about one level of activity.
As fixed costs are constant, static budget is used to project them.
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Question 1 (1 point) A static budget report is appropriate for a) fixed manufacturing costs. b)...
uestion 8 (1 point) A static budget is usually appropriate in evaluating a manager's effectiveness in...
uestion 8 (1 point) A static budget is usually appropriate in evaluating a manager's effectiveness in controlling U a) fixed manufacturing costs and variable selling and administrative expenses. b) variable manufacturing costs and variable selling and administrative expenses. C) fixed manufacturing costs and fixed selling and administrative expenses. d) variable manufacturing costs and fixed selling and administrative expenses.
Question 10 (1 point) A static budget report a) is appropriate in evaluating a manager's effectiveness...
Question 10 (1 point) A static budget report a) is appropriate in evaluating a manager's effectiveness in controlling variable costs. b) may be appropriate in evaluating a manager's effectiveness in controlling costs when the behavior of the costs in response to changes in activity is fixed. U shows costs at only 2 or 3 different levels of activity, d) should be used when the actual level of activity is materially different from the master budget activity level.
Question 36 (1 point) The following is a summarized master budget that Winnipeg Company prepared for...
Question 36 (1 point) The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units. Sales revenue $450,000. Less variable costs: Manufacturing $270,000, Selling and administrative $18,000 Total Variable Costs - $288,000. Contribution margin $162,000. Less fixed costs: Manufacturing $72,000, Selling and administrative $27,000 Total fixed costs: $99,000. Operating income $63,000. Actual results for January were as follows: Units produced and sold 8,500 units, Selling price per unit $55.00, Variable costs per unit: Manufacturing $32.00,...
The following static budget is provided: Per unit $50 Total $750,000 Sales Less variable costs: Manufacturing...
The following static budget is provided: Per unit $50 Total $750,000 Sales Less variable costs: Manufacturing costs Selling and administrative costs 20 300,000 10 150,000 $20 $ 300,000 Contribution margin Less fixed costs: Manufacturing costs Selling and administrative costs 76,000 126,000 Total fixed costs 202,000 Net income $ 98,000 What will be the overall volume variance if 18,000 units are produced and sold? Multiple Choice 0 $0 F 0 $60,000 F 0 $360,000 U 0 $158,000 F
Question) Jase Manufacturing Co.'s static budget at 7,800 units of production includes $23,400 for direct labor...
Question) Jase Manufacturing Co.'s static budget at 7,800 units of production includes $23,400 for direct labor and $2,340 for electric power. Total fixed costs are $41,200. At 10,500 units of production, a flexible budget would show? A)variable and fixed costs totaling $66,940 B)variable costs of $34,650 and $41,200 of fixed costs C) variable costs of $34,650 and $55,462 of fixed costs D)variable costs of $25,740 and $41,200 of fixed costs
7) The following static budget is provided: Per Unit Total Sales $ 60 $ 900,000 Less...
7) The following static budget is provided: Per Unit Total Sales $ 60 $ 900,000 Less variable costs: Manufacturing costs 30 450,000 Selling and administrative costs 10 150,000 Contribution margin $ 20 $ 300,000 Less fixed costs: Manufacturing costs 75,000 Selling and administrative costs 125,000 Total fixed costs: 200,000 Net income $ 100,000 What will be the overall volume variance if 12,000 units are produced and sold? A) $80,000 F B) $160,000 U C) $60,000 U D) $80,000 U
Question1 As sales manager, Joe Batista was given the following static budget report for selling expenses...
Question1
As sales manager, Joe Batista was given the following static
budget report for selling expenses in the Clothing Department of
Sunland Company for the month of October.
As a result of this budget report, Joe was called into the
president’s office and congratulated on his fine sales performance.
He was reprimanded, however, for allowing his costs to get out of
control. Joe knew something was wrong with the performance report
that he had been given. However, he was not...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. РHOENIX OСOMPANY Fixed Budget Report For Year Ended December 31, 2017 $3,300,000 Sales Cost of goods sold Direct materials $915,000 225,000 60,000 330,000 195,000 Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($30,880 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,150,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $960,000 Direct labor 225,000 Machinery repairs (variable cost) 45,000 Depreciation-Plant equipment (straight-line) 300,000 Utilities ($45,000 is variable) 195,000 Plant management salaries 180,000 Gross profit Selling expenses Packaging 90,000 Shipping 90,000 Sales salary (fixed annual amount) 235,000 General...
uestion 8 (1 point) A static budget is usually appropriate in evaluating a manager's effectiveness in controlling U a) fixed manufacturing costs and variable selling and administrative expenses. b) variable manufacturing costs and variable selling and administrative expenses. C) fixed manufacturing costs and fixed selling and administrative expenses. d) variable manufacturing costs and fixed selling and administrative expenses.
Question 10 (1 point) A static budget report a) is appropriate in evaluating a manager's effectiveness in controlling variable costs. b) may be appropriate in evaluating a manager's effectiveness in controlling costs when the behavior of the costs in response to changes in activity is fixed. U shows costs at only 2 or 3 different levels of activity, d) should be used when the actual level of activity is materially different from the master budget activity level.
Question 36 (1 point) The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units. Sales revenue $450,000. Less variable costs: Manufacturing $270,000, Selling and administrative $18,000 Total Variable Costs - $288,000. Contribution margin $162,000. Less fixed costs: Manufacturing $72,000, Selling and administrative $27,000 Total fixed costs: $99,000. Operating income $63,000. Actual results for January were as follows: Units produced and sold 8,500 units, Selling price per unit $55.00, Variable costs per unit: Manufacturing $32.00,...
The following static budget is provided: Per unit $50 Total $750,000 Sales Less variable costs: Manufacturing costs Selling and administrative costs 20 300,000 10 150,000 $20 $ 300,000 Contribution margin Less fixed costs: Manufacturing costs Selling and administrative costs 76,000 126,000 Total fixed costs 202,000 Net income $ 98,000 What will be the overall volume variance if 18,000 units are produced and sold? Multiple Choice 0 $0 F 0 $60,000 F 0 $360,000 U 0 $158,000 F
Question1
As sales manager, Joe Batista was given the following static
budget report for selling expenses in the Clothing Department of
Sunland Company for the month of October.
As a result of this budget report, Joe was called into the
president’s office and congratulated on his fine sales performance.
He was reprimanded, however, for allowing his costs to get out of
control. Joe knew something was wrong with the performance report
that he had been given. However, he was not...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. РHOENIX OСOMPANY Fixed Budget Report For Year Ended December 31, 2017 $3,300,000 Sales Cost of goods sold Direct materials $915,000 225,000 60,000 330,000 195,000 Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($30,880 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income...
Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,150,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $960,000 Direct labor 225,000 Machinery repairs (variable cost) 45,000 Depreciation-Plant equipment (straight-line) 300,000 Utilities ($45,000 is variable) 195,000 Plant management salaries 180,000 Gross profit Selling expenses Packaging 90,000 Shipping 90,000 Sales salary (fixed annual amount) 235,000 General...
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