Homework Answers
Sales volume variance = (Actual units sold - Budgeted units to be sold) X Budgeted selling price
= (1,006 - 989) X $96
= $1,632
1632
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Question 1 2 pts Clementine Company makes skateboards. They prepare master and flexible budgets and then...
Clementine Company makes skateboards. They prepare master and flexible budgets and then perform variance analysis after...
Clementine Company makes skateboards. They prepare master and flexible budgets and then perform variance analysis after the budget plan period elapses. Their data is as follows: Budget Actual $102 $103 Selling price per unit Variable cost per unit $47 $48 Quantity sold 934 1,035 What is the Clementine's flexible budget variance for VARIABLE COSTS? If the variance is unfavorable put a minus sign in front of your answer. Enter your answer without commas or decimals.
Question 1 1 pts Calc+ Company manufactures calculators for schools. The master budget is based on...
Question 1 1 pts Calc+ Company manufactures calculators for schools. The master budget is based on sales of 40,000 units at $65 per calculator. Budgeted variable costs are $45 per unit, while budgeted fixed costs total $670,000. Actual income was $211,000 on actual sales of 42,000 units at $64 each. Actual variable costs were $43 per unit and actual fixed costs totaled $671,000. What is the master-budget variance of operating income (list variance amount and if it is favorable or...
Required: 1&2. Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units...
Required:
1&2. Prepare flexible budgets for the company
at sales volumes of 14,000 and 16,000 units and classify all items
listed in the fixed budget as variable or fixed.
3. The company’s business conditions are
improving. One possible result is a sales volume of 18,000 units.
The company president is confident that this volume is within the
relevant range of existing capacity. How much would operating
income increase over the 2017 budgeted amount of $505,000 if this
level is reached...
1.) 2.) 3.) 4.) The master budget at Western Company last period called for sales of...
1.)
2.)
3.)
4.)
The master budget at Western Company last period called for sales of 225,900 units at $9.9 each. The costs were estimated to be $3.84 variable per unit and $225,900 fixed. During the period, actual production and actual sales were 230,900 units. The selling price was $10.00 per unit. Variable costs were $5.40 per unit. Actual fixed costs were $225,900. Required: Prepare a sales activity variance analysis. (Indicate the effect of each variance by selecting "F" for...
True/False Questions worth 2 pts each. 1. Self-imposed budgets prepared by lower-level managers should be scrutinized...
True/False Questions worth 2 pts each. 1. Self-imposed budgets prepared by lower-level managers should be scrutinized by higher levels of management 2. Budgets are used to plan and to control operations. 3. Fixed costs should be ignored when evaluating how well a manager has controlled costs. 4. A flexible budget can be used to estimate what revenues and costs should have been given the actual level of activity for the period. 5. An unfavorable spending variance may reflect waste as...
Flexible budget memo Understanding Flexible Budgets You have been a loyal employee of NRG Corporation for...
Flexible budget memo
Understanding Flexible Budgets You have been a loyal employee of NRG Corporation for 16 years. In December of 2018, you were excited to be promoted to Profit Center Manager, where you gained the responsible for the profits and losses of NRG's time of energy drink products. The product line's master budget was created and approved prior to your start date as the manager, but with the entire fiscal year 2019 still ahead, you had the chance to...
Which one of the following is not generally regarded as part of the budgetary process? Select...
Which one of the following is not generally regarded as part of the budgetary process? Select one: Preparation of master budget. Communication of objectives. Designing an absorption costing system. On-going review of budgets. - A company's budgeted variable overheads for a period amounted to £24,000. During this period, the company spent £23,760 on variable overheads. The company’s level of production was expected to require 12,000 labour hours but the actual amount of labour hours used was only 10,800 hours. What...
Please help Understanding Flexible Budgets You have been a loyal employee of NRG Corporation for 16...
Please help
Understanding Flexible Budgets You have been a loyal employee of NRG Corporation for 16 years. In December of 2018, you were excited to be promoted to Profit Center Manager, where you gained the responsible for the profits and losses of NRG's time of energy drink products. The product line's master budget was created and approved prior to your start date as the manager, but with the entire fiscal year 2019 still ahead, you had the chance to prove...
Clementine Company makes skateboards. They prepare master and flexible budgets and then perform variance analysis after the budget plan period elapses. Their data is as follows: Budget Actual $102 $103 Selling price per unit Variable cost per unit $47 $48 Quantity sold 934 1,035 What is the Clementine's flexible budget variance for VARIABLE COSTS? If the variance is unfavorable put a minus sign in front of your answer. Enter your answer without commas or decimals.
Question 1 1 pts Calc+ Company manufactures calculators for schools. The master budget is based on sales of 40,000 units at $65 per calculator. Budgeted variable costs are $45 per unit, while budgeted fixed costs total $670,000. Actual income was $211,000 on actual sales of 42,000 units at $64 each. Actual variable costs were $43 per unit and actual fixed costs totaled $671,000. What is the master-budget variance of operating income (list variance amount and if it is favorable or...
Required:
1&2. Prepare flexible budgets for the company
at sales volumes of 14,000 and 16,000 units and classify all items
listed in the fixed budget as variable or fixed.
3. The company’s business conditions are
improving. One possible result is a sales volume of 18,000 units.
The company president is confident that this volume is within the
relevant range of existing capacity. How much would operating
income increase over the 2017 budgeted amount of $505,000 if this
level is reached...
1.)
2.)
3.)
4.)
The master budget at Western Company last period called for sales of 225,900 units at $9.9 each. The costs were estimated to be $3.84 variable per unit and $225,900 fixed. During the period, actual production and actual sales were 230,900 units. The selling price was $10.00 per unit. Variable costs were $5.40 per unit. Actual fixed costs were $225,900. Required: Prepare a sales activity variance analysis. (Indicate the effect of each variance by selecting "F" for...
True/False Questions worth 2 pts each. 1. Self-imposed budgets prepared by lower-level managers should be scrutinized by higher levels of management 2. Budgets are used to plan and to control operations. 3. Fixed costs should be ignored when evaluating how well a manager has controlled costs. 4. A flexible budget can be used to estimate what revenues and costs should have been given the actual level of activity for the period. 5. An unfavorable spending variance may reflect waste as...
Flexible budget memo
Understanding Flexible Budgets You have been a loyal employee of NRG Corporation for 16 years. In December of 2018, you were excited to be promoted to Profit Center Manager, where you gained the responsible for the profits and losses of NRG's time of energy drink products. The product line's master budget was created and approved prior to your start date as the manager, but with the entire fiscal year 2019 still ahead, you had the chance to...
Please help
Understanding Flexible Budgets You have been a loyal employee of NRG Corporation for 16 years. In December of 2018, you were excited to be promoted to Profit Center Manager, where you gained the responsible for the profits and losses of NRG's time of energy drink products. The product line's master budget was created and approved prior to your start date as the manager, but with the entire fiscal year 2019 still ahead, you had the chance to prove...
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