Cost Accounting , chapter 14 Write the answers in the space provided from A to S...
Cost Accounting , chapter 14
Write the answers in the space provided from A to S
| Actual Results | A? | Flexible budget | B? | Master Budget | |
| Units | 225000 | C? | D? | E? | 260250 |
| Sales Revenue | 126240 | F? | 135000 | G? | h? |
| Variable Costs | j? | $ 600 U | I? | K? | $66,000 |
| Fixed Costs | 16560 | L? | 18280 | M? | N? |
| Operating Income | o? | P? | Q? | R? | S? |
Please , provide step by step solution
Homework Answers
Solution:
| Particulars | Actual Results | Revenue and Spending Variance | Flexible budget | Activity Variance | Master Budget | ||
| Units | 225000 | 0 | None | 225000 | 35250 | U | 260250 |
| Sales Revenue | $126,240 | $8,760 | U | $135,000 | $21,150 | U | $156,150 |
| Variable Costs | $57,661 | $600 | U | $57,061 | $8,939 | F | $66,000 |
| Fixed Costs | $16,560 | $1,720 | F | $18,280 | $0 | None | $18,280 |
| Operating Income | $52,019 | $7,640 | U | $59,659 | $12,211 | U | $71,870 |
Add Answer to:
Cost Accounting , chapter 14
Write the answers in the space provided from A to S...
#3 only. 14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance;...
#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...
A new accounting intern at Gibson Corporation lost the only copy of this period's master budget....
A new accounting intern at Gibson Corporation lost the only copy of this period's master budget. The CFO wants to evaluate performance for this period but needs the master budget to do so. Actual results for the period follow. 120,000 units $672,000 Sales volume Sales revenue Variable costs Manufacturing Marketing and administrative Contribution margin Fixed costs Manufacturing Marketing and administrative Operating profit 147,200 61,400 $463,400 205,eee 113,280 $145,200 The company planned to produce and sell 108,000 units for $5 each....
1. Prepare a flexible budget. 2. Compute the sales volume variance and the variable cost volume...
1. Prepare a flexible
budget.
2. Compute the sales volume
variance and the variable cost volume variances based on a
comparison between the master budget and the flexible budget
3.Compute flexible budget
variances by comparing the flexible budget with the actual
results.
4.Summarize the results of the
sales volume and variable cost volume variances computations based
on the comparison between the master budget and the flexible
budget.
5.Summarize the results of the
flexible budget variances computations based on the comparison...
Chapter 9: Applying Excel $16.50 9 $6.25 9 Data Revenue Cost of ingredients Wages and salaries...
Chapter 9: Applying Excel $16.50 9 $6.25 9 Data Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $0.20 g $10,400 $800 $2,200 $600 $0.80 g Actual results: Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $27.920 $11,110 $10,130 $1.080 $2,200 $2,240 Planning budget activity Actual activity 1.800 meals served 1,700 meals served Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible...
The master budget at Western Company last period called for sales of 225,000 units at $9...
The master budget at Western Company last period called for sales of 225,000 units at $9 each. The costs were estimated to be $3.75 variable per unit and $225,000 fixed. During the period, actual production and actual sales were 230,000 units. The selling price was $9.10 per unit. Variable costs were $4.50 per unit. Actual fixed costs were $225,000. Required: Prepare a profit variance analysis. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable....
#4 only. 14-24 Master (Static) Budget Variance and Its Components As the new accountant for Cohen...
#4 only.
14-24 Master (Static) Budget Variance and Its Components As the new accountant for Cohen & Co., you have been asked to provide a succinct analysis of financial performance for the year just ended. You obtain the following information that pertains to the company's sole product: Actual Master (Static) Budget Units sold 40,000 45.000 Sales $350,000 $450.000 Variable costs 210,000 270.000 Fixed costs 145,000 135.000 Required 1. What was the actual operating income for the period? Show calculations, round...
#5 only. 14-24 Master (Static) Budget Variance and Its Components As the new accountant for Cohen...
#5 only.
14-24 Master (Static) Budget Variance and Its Components As the new accountant for Cohen & Co., you have been asked to provide a succinct analysis of financial performance for the year just ended. You obtain the following information that pertains to the company's sole product: Units sold Sales Variable costs Fixed costs Actual Master (Static) Budget 40,000 45,000 $380,000 $450.000 210,000 270.000 145,000 135.000 Required 1. What was the actual operating income for the period? Show calculations; round...
3 Problem 1143 (#1 and 2 only) Flexible Budgeting: Variances; Impact on Behavior 4 DATA INPUT...
3 Problem 1143 (#1 and 2 only) Flexible Budgeting: Variances; Impact on Behavior 4 DATA INPUT Lawnmate Company Operating Results For the Month of May 6 8 9 10 Units sold Actual Master Budget 5,000 Variance 4,800 200 U $ 1,200,000 760,000 S 440,000 180,000 120,000 S 140,000 $ 1,152,000 780,000 S 372,000 180,000 115,000 S 77,000 $ 48,000 U 20,000) U $ 68,000 U 12 Revenue 13 Variable cost 14 Contribution margin 15 Fixed overhead 16 Fixed general and...
Hoppy Corporation compares a monthly flexible budget based on actual operating results to a static planning...
Hoppy Corporation compares a monthly flexible budget based on actual operating results to a static planning budget prepared at the beginning of the month. When the actual level of activity is higher than expected, which of the following would typically be expected? Variable costs would show unfavorable variances O Varíable costs would show favorable variances O Fixed costs would show favorable varlances Fixed costs would show unfavorable variances. None of the above. Cosden Corporation is an oil well service company...
AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost...
AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February Variable Fixed Component Component per Actual Total per Month Job Revenue Technieian wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses 8,400 S4,500 2,300 1,610 2,850 $ 970 for February S33,520 $ 8,250 $ 8,630 2,670 1,680 2,850 S 33 405 The company uses the number of jobs as its measure of...
#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...
A new accounting intern at Gibson Corporation lost the only copy of this period's master budget. The CFO wants to evaluate performance for this period but needs the master budget to do so. Actual results for the period follow. 120,000 units $672,000 Sales volume Sales revenue Variable costs Manufacturing Marketing and administrative Contribution margin Fixed costs Manufacturing Marketing and administrative Operating profit 147,200 61,400 $463,400 205,eee 113,280 $145,200 The company planned to produce and sell 108,000 units for $5 each....
1. Prepare a flexible
budget.
2. Compute the sales volume
variance and the variable cost volume variances based on a
comparison between the master budget and the flexible budget
3.Compute flexible budget
variances by comparing the flexible budget with the actual
results.
4.Summarize the results of the
sales volume and variable cost volume variances computations based
on the comparison between the master budget and the flexible
budget.
5.Summarize the results of the
flexible budget variances computations based on the comparison...
Chapter 9: Applying Excel $16.50 9 $6.25 9 Data Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $0.20 g $10,400 $800 $2,200 $600 $0.80 g Actual results: Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous $27.920 $11,110 $10,130 $1.080 $2,200 $2,240 Planning budget activity Actual activity 1.800 meals served 1,700 meals served Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible...
The master budget at Western Company last period called for sales of 225,000 units at $9 each. The costs were estimated to be $3.75 variable per unit and $225,000 fixed. During the period, actual production and actual sales were 230,000 units. The selling price was $9.10 per unit. Variable costs were $4.50 per unit. Actual fixed costs were $225,000. Required: Prepare a profit variance analysis. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable....
#4 only.
14-24 Master (Static) Budget Variance and Its Components As the new accountant for Cohen & Co., you have been asked to provide a succinct analysis of financial performance for the year just ended. You obtain the following information that pertains to the company's sole product: Actual Master (Static) Budget Units sold 40,000 45.000 Sales $350,000 $450.000 Variable costs 210,000 270.000 Fixed costs 145,000 135.000 Required 1. What was the actual operating income for the period? Show calculations, round...
#5 only.
14-24 Master (Static) Budget Variance and Its Components As the new accountant for Cohen & Co., you have been asked to provide a succinct analysis of financial performance for the year just ended. You obtain the following information that pertains to the company's sole product: Units sold Sales Variable costs Fixed costs Actual Master (Static) Budget 40,000 45,000 $380,000 $450.000 210,000 270.000 145,000 135.000 Required 1. What was the actual operating income for the period? Show calculations; round...
3 Problem 1143 (#1 and 2 only) Flexible Budgeting: Variances; Impact on Behavior 4 DATA INPUT Lawnmate Company Operating Results For the Month of May 6 8 9 10 Units sold Actual Master Budget 5,000 Variance 4,800 200 U $ 1,200,000 760,000 S 440,000 180,000 120,000 S 140,000 $ 1,152,000 780,000 S 372,000 180,000 115,000 S 77,000 $ 48,000 U 20,000) U $ 68,000 U 12 Revenue 13 Variable cost 14 Contribution margin 15 Fixed overhead 16 Fixed general and...
Hoppy Corporation compares a monthly flexible budget based on actual operating results to a static planning budget prepared at the beginning of the month. When the actual level of activity is higher than expected, which of the following would typically be expected? Variable costs would show unfavorable variances O Varíable costs would show favorable variances O Fixed costs would show favorable varlances Fixed costs would show unfavorable variances. None of the above. Cosden Corporation is an oil well service company...
AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February Variable Fixed Component Component per Actual Total per Month Job Revenue Technieian wages Mobile lab operating expenses Office expenses Advertising expenses Insurance Miscellaneous expenses 8,400 S4,500 2,300 1,610 2,850 $ 970 for February S33,520 $ 8,250 $ 8,630 2,670 1,680 2,850 S 33 405 The company uses the number of jobs as its measure of...
Most questions answered within 3 hours.
-
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 1 hour ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 3 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 4 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 5 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 6 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 5 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 7 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 7 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 7 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 7 hours ago -
Here are all accounts Tyler Co. maintains.
Tax expenses $4,750
Common stocks $48,840
SG&A expenses $2,500...
asked 7 hours ago -
Lis
out the types and equation of wind profile and the respective
variables in the fds...
asked 7 hours ago