Multiple Choice
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$480 favorable.
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$1,000 unfavorable.
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$1,000 favorable.
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$1,520 unfavorable.
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$2,000 favorable.
Homework Answers
| Actual | A | Flexible Budget | B | Master Budget | |
| Units | $1,460.00 | $1,460.00 | $1,160.00 | ||
| Sales ( Dollar) | $97,000.00 | 6880 F | $90,120.00 | 19200 F | $70,920.00 |
| Variable cost | $77,960.00 | 7880 U | $70,080.00 | $55,680.00 | |
| Contribution Margin | $19,040.00 | 1000 U | $20,040.00 | $15,240.00 | |
| Fixed Cost | $5,040.00 | $5,040.00 | $5,040.00 | ||
| Operating Income | $14,000.00 | 1000 U | $15,000.00 | $10,200.00 |
| F= Actual Fixed Cost = $5040 |
| Contribution Margin= Fixed Cost + Net Operating Income |
| $14000+$5040=$19040 |
| E= Sales- Contribution Margin |
| 97000-$19040=$77960 |
| D. Contribution Margin = $19040+1000=$20040 |
| Variable cost ( Flexible Budget )= $55680/1160X 1460=$70080 |
| C. Sales ( Flexible Budget)= Contribution + Variable cost |
| $20040+$70080=$90120 |
| d. Operating Income as per Flexible Budget = $78960-5040=$73920 |
Correct answer will be $1000 Unfavourable
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Multiple Choice
$480 favorable.
$1,000 unfavorable.
$1,000 favorable.
$1,520 unfavorable.
$2,000 favorable.
Pokeman Bunch Inc., manufactures...
Pokeman Bunch Inc., manufactures Poke Monster figures and has the following data from its operation for...
Pokeman Bunch Inc., manufactures Poke Monster figures and has the following data from its operation for the year just completed. Flexible Budget Actual 1,500 $93,000 Master Budget 1,200 $18,000F $60,000 Units Sales (dollars) Variable cost Contribution Margin Fixed cost Operating income $1,500U $5,000 $ 7,500 The total operating-income variance, to the nearest dollar, is: Multiple Choice o o $500 favorable. O $1,500 unfavorable. o $1,500 favorable. o $2,500 unfavorable. $3,000 favorable.
the flexible budget variance for operation income is Favorable 13) /The following data are for Point...
the flexible budget variance for operation income is
Favorable 13) /The following data are for Point Corporation: A Flexible Budget for Actual Sales Activity 18,000 $360,000 216,000 $144,000 Static Budget Actual Units 18,000 $360,000 16,000 $320,000 Sales Variable costs 234,000 $126,000 76,000 $50,000 192,000 $128,000 Contribution margin Fixed costs 80,000 $64,000 80,000 $48,000 Operating income 2,000 The flexible budget variance for operating income is A) $14,000 Favorable C) $2,000 Favorable B) $14,000 Unfavorable D) $2,000 Unfavorable
Multiple Choice $11,000 unfavorable. $141,046 favorable. $143,286 favorable. $163,846 favorable. $163,846 unfavorable. Bluecap Co. uses a...
Multiple Choice
$11,000 unfavorable.
$141,046 favorable.
$143,286 favorable.
$163,846 favorable.
$163,846 unfavorable.
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Joyson Inc., manufactures dolls and has the following data from its operation for the year just...
Joyson Inc., manufactures dolls and has the following data from
its operation for the year just completed.
What is the sales volume variance in terms of operating income
(to the nearest dollar):
Flexible Master Actual Budget В Budget 1,260 1,560 $102,000 Units Sales (dollars) $20,700 F $66,780 Variable cost Е Contribution Margin $1,500 U D $5,090 Fixed cost 15,300 Operating income cl
Solid Box Fabrications manufactures boxes for workstations. The firm’s standard cost sheet prior to October of...
Solid Box Fabrications manufactures boxes for workstations. The
firm’s standard cost sheet prior to October of the current year and
actual results for October are as follows:
Required information {The following information applies to the questions displayed below.] Solid Box Fabrications manufactures boxes for workstations. The firm's standard cost sheet prior to October of the current year and actual results for October are as follows: Budget Information Standard Price and Variable Fixed Costs per Unit Costs Actual Results October 9,500...
Assume that in October 2019 the Schmidt Machinery Company (Exhibit 14.1) manufactured and sold 950 units...
Assume that in October 2019 the Schmidt Machinery Company
(Exhibit 14.1) manufactured and sold 950 units for $854 each.
During this month, the company incurred $380,000 total variable
costs and $181,900 total fixed costs. The master (static) budget
data for the month are as given in Exhibit 14.1.
Required:
1. Prepare a flexible budget for the production and sale of 950
units.
2. Compute for October 2019:
a. The sales volume variance, in terms of operating income.
Indicate whether this...
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income...
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2019 (1) (2) (3) Variances Actual Operating Income Master (Static) Budget 220U Units 780 1,000 $ 160,400U 100% $639,600 100% Sales $800,000 Variable costs 99.050F 350,950 55 450.000 56 $350,000 Contribution margin $288,650 45% 44% $ 61,350U 150.000 *** 160.650 Fixed costs 25 19 10.650U $128,000 20% $ Operating income $200,000 25% 72,000U *U denotes an unfavorable effect on operating income. *F...
#3 only. 14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance;...
#3 only.
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As part of its comprehensive planning and control system, Mopar Company uses a master budget and...
As part of its comprehensive planning and control system, Mopar
Company uses a master budget and subsequent variance analysis. You
are given the following information that pertains to the company’s
only product, XL-10, for the month of December.
Required:
1. Using text Exhibit 14.4 as a guide, complete the missing
parts of the following profit report for December.
2. Based on your completed profit report, determine the dollar
amount, and label (Favorable or Unfavorable) each of the following
variances for...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (2) (3) Flexible-Budget Flexible Variances Budget (1) (4) Sales Volume Variances (5) Master (Static) Budget Actual Units 780 0 780 1,000 Sales Variable costs Contribution margin Fixed costs Operating income $639,600 350,950 $288,650 160,650 $128,000 $15,600F 50F $15,650F 10,650U $ 5,000F $624,000 351,000 $273.000 150,000 $123,000 2200 $176,0000 99,000F $ 77,0000 $800,000 450,000 $350,000 150,000 $200,000 $77,000U Analysis of Total Operating-Income Variance...
Pokeman Bunch Inc., manufactures Poke Monster figures and has the following data from its operation for the year just completed. Flexible Budget Actual 1,500 $93,000 Master Budget 1,200 $18,000F $60,000 Units Sales (dollars) Variable cost Contribution Margin Fixed cost Operating income $1,500U $5,000 $ 7,500 The total operating-income variance, to the nearest dollar, is: Multiple Choice o o $500 favorable. O $1,500 unfavorable. o $1,500 favorable. o $2,500 unfavorable. $3,000 favorable.
the flexible budget variance for operation income is
Favorable 13) /The following data are for Point Corporation: A Flexible Budget for Actual Sales Activity 18,000 $360,000 216,000 $144,000 Static Budget Actual Units 18,000 $360,000 16,000 $320,000 Sales Variable costs 234,000 $126,000 76,000 $50,000 192,000 $128,000 Contribution margin Fixed costs 80,000 $64,000 80,000 $48,000 Operating income 2,000 The flexible budget variance for operating income is A) $14,000 Favorable C) $2,000 Favorable B) $14,000 Unfavorable D) $2,000 Unfavorable
Multiple Choice
$11,000 unfavorable.
$141,046 favorable.
$143,286 favorable.
$163,846 favorable.
$163,846 unfavorable.
Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2019: Denominator volume-number of units Denominator volume-percent of capacity Denominator volume-standard direct labor hours (DLHS) Budgeted variable factory overhead cost at denominator volume Total standard factory overhead rate per DLH 7,000 70% 42,000 $102,200 $ 15.10 During 2019, Bluecap worked 53,000 DLHs and manufactured 9,300 units. The actual factory...
Joyson Inc., manufactures dolls and has the following data from
its operation for the year just completed.
What is the sales volume variance in terms of operating income
(to the nearest dollar):
Flexible Master Actual Budget В Budget 1,260 1,560 $102,000 Units Sales (dollars) $20,700 F $66,780 Variable cost Е Contribution Margin $1,500 U D $5,090 Fixed cost 15,300 Operating income cl
Solid Box Fabrications manufactures boxes for workstations. The
firm’s standard cost sheet prior to October of the current year and
actual results for October are as follows:
Required information {The following information applies to the questions displayed below.] Solid Box Fabrications manufactures boxes for workstations. The firm's standard cost sheet prior to October of the current year and actual results for October are as follows: Budget Information Standard Price and Variable Fixed Costs per Unit Costs Actual Results October 9,500...
Assume that in October 2019 the Schmidt Machinery Company
(Exhibit 14.1) manufactured and sold 950 units for $854 each.
During this month, the company incurred $380,000 total variable
costs and $181,900 total fixed costs. The master (static) budget
data for the month are as given in Exhibit 14.1.
Required:
1. Prepare a flexible budget for the production and sale of 950
units.
2. Compute for October 2019:
a. The sales volume variance, in terms of operating income.
Indicate whether this...
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2019 (1) (2) (3) Variances Actual Operating Income Master (Static) Budget 220U Units 780 1,000 $ 160,400U 100% $639,600 100% Sales $800,000 Variable costs 99.050F 350,950 55 450.000 56 $350,000 Contribution margin $288,650 45% 44% $ 61,350U 150.000 *** 160.650 Fixed costs 25 19 10.650U $128,000 20% $ Operating income $200,000 25% 72,000U *U denotes an unfavorable effect on operating income. *F...
#3 only.
14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual Master Budget 3.800 4,000 $53,200 $60,000 19.000 16,000 16.000 15,000 7,700 8,000 10.000 9,000 Required 1. What was the total operating income variance for July, rounded to the...
As part of its comprehensive planning and control system, Mopar
Company uses a master budget and subsequent variance analysis. You
are given the following information that pertains to the company’s
only product, XL-10, for the month of December.
Required:
1. Using text Exhibit 14.4 as a guide, complete the missing
parts of the following profit report for December.
2. Based on your completed profit report, determine the dollar
amount, and label (Favorable or Unfavorable) each of the following
variances for...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (2) (3) Flexible-Budget Flexible Variances Budget (1) (4) Sales Volume Variances (5) Master (Static) Budget Actual Units 780 0 780 1,000 Sales Variable costs Contribution margin Fixed costs Operating income $639,600 350,950 $288,650 160,650 $128,000 $15,600F 50F $15,650F 10,650U $ 5,000F $624,000 351,000 $273.000 150,000 $123,000 2200 $176,0000 99,000F $ 77,0000 $800,000 450,000 $350,000 150,000 $200,000 $77,000U Analysis of Total Operating-Income Variance...
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