Homework Answers
| Flexible Budget | Actual results | Variances and Fav/Unfav | ||||||||||
| Retail Sales | Wholesale Sales | Outlet Sales | Retail Sales | Wholesale Sales | Outlet Sales | Retail Sales | Wholesale Sales | Outlet Sales | ||||
| Sales | $7,50,000.00 | $4,00,000.00 | $2,00,000.00 | $7,50,000.00 | $4,00,000.00 | $2,00,000.00 | $0.00 | NA | $0.00 | NA | -$7,50,000.00 | NA |
| Variable Costs: | ||||||||||||
| Cost of goods sold | $1,50,000.00 | $1,00,000.00 | $25,000.00 | $1,92,000.00 | $1,22,000.00 | $26,500.00 | $42,000.00 | Unfav | $22,000.00 | Unfav | #VALUE! | Unfav |
| Advertising | $1,00,000.00 | $30,000.00 | $5,000.00 | $1,00,000.00 | $30,000.00 | $5,000.00 | $0.00 | NA | $0.00 | NA | #VALUE! | NA |
| Sales salaries | $75,000.00 | $15,000.00 | $3,000.00 | $75,000.00 | $15,000.00 | $3,000.00 | $0.00 | NA | $0.00 | NA | #VALUE! | NA |
| Printing | $10,000.00 | $20,000.00 | $5,000.00 | $10,000.00 | $20,000.00 | $5,000.00 | $0.00 | NA | $0.00 | NA | #VALUE! | NA |
| Travel | $20,000.00 | $30,000.00 | $2,000.00 | $14,000.00 | $21,000.00 | $1,500.00 | -$6,000.00 | Unfav | -$9,000.00 | Unfav | #VALUE! | Unfav |
| Total Variable costs | $3,55,000.00 | $1,95,000.00 | $40,000.00 | $3,91,000.00 | $2,08,000.00 | $41,000.00 | $36,000.00 | Unfav | $13,000.00 | Unfav | #VALUE! | Unfav |
| Contribution margin | $3,95,000.00 | $2,05,000.00 | $1,60,000.00 | $3,59,000.00 | $1,92,000.00 | $1,59,000.00 | -$36,000.00 | Unfav | -$13,000.00 | Unfav | #VALUE! | Unfav |
| Fixed Costs: | ||||||||||||
| Rent | $50,000.00 | $30,000.00 | $10,000.00 | $40,000.00 | $50,000.00 | $12,300.00 | -$10,000.00 | Unfav | $20,000.00 | Unfav | #VALUE! | Unfav |
| Insurance | $5,000.00 | $2,000.00 | $1,000.00 | $5,000.00 | $2,000.00 | $1,000.00 | $0.00 | NA | $0.00 | NA | #VALUE! | NA |
| Depreciation | $75,000.00 | $1,00,000.00 | $40,000.00 | $80,000 | $90,000 | $56,000 | $5,000.00 | Unfav | -$10,000.00 | Unfav | #VALUE! | Unfav |
| Total Fixed Costs | $1,30,000.00 | $1,32,000.00 | $51,000.00 | $1,25,000.00 | $1,42,000.00 | $69,300.00 | -$5,000.00 | Unfav | $10,000.00 | Unfav | #VALUE! | Unfav |
| Income from operations | $2,65,000.00 | $73,000.00 | $1,09,000.00 | $2,34,000.00 | $50,000.00 | $89,700.00 | -$31,000.00 | Unfav | -$23,000.00 | Unfav | #VALUE! | Unfav |
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