Homework Answers
ANSWER:
ANSWER:
| Flexible budget | Actual result | Variance | Fav/Unfav | |
|---|---|---|---|---|
| Sales revenue |
($480000/6000) x 4900 = $392000 |
$441000 | $49000 | favorable |
| Less: variable cost |
($300000/6000) x 4900 = $245000 |
$408000 - $130000 = $278000 |
$33000 | unfavorable |
| Contribution margin | $147000 | $163000 | $16000 | favorable |
| Less: fixed cost | $140000 | $130000 | $10000 | favorable |
| Net income | $7000 | $33000 | $26000 | favorable |
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Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include...
Bay City Company’s fixed budget performance report for July follows. The $440,000 budgeted total expenses include...
Bay City Company’s fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Actual Results Variances Sales (in units) 6,000 4,900 Sales (in dollars) $ 480,000 $ 436,100 $ 43,900 U Total expenses 440,000 410,000 30,000 F Income from operations $ 40,000 $ 26,100 $ 13,900 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual...
Bay City Company’s fixed budget performance report for July follows. The $440,000 budgeted total expenses include...
Bay City Company’s fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Actual Results Variances Sales (in units) 6,000 4,900 Sales (in dollars) $ 480,000 $ 436,100 $ 43,900 U Total expenses 440,000 410,000 30,000 F Income from operations $ 40,000 $ 26,100 $ 13,900 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual...
Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 6,000 $480,000 440,000 $ 40,000 Actual Results 4,900 $ 436,100 400,000 $ 36,100 $43,900 U 40,000 F $ 3,900 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List...
Bay City Company's fixed budget performance report for July follows. The $367,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $367,000 budgeted total expenses include $280,000 variable expenses and $87,000 fixed expenses. Actual expenses include $77,000 fixed expenses. Variances Sales (in units) Sales (in dollars Total expenses Fixed Budget 5,000 $400,000 367,000 $ 33,000 Actual Results 3,900 $347,100 330,000 $ 17,100 $52,900U 37,000F $15,900 U Income from operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,000 $640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 550,000 $ 57,200 $32,800 U 37,000 F $ 4,200 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Actual Fixed Budget Variances Results Sales (in units ) Sales (in dollars) Total expenses 8,000 $640,000 587,000 $ 53,000 6,900 $614,100 547,000 $25,900 U 40,000 F $67,100 $14,100 U Income from operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and...
Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include $153,000 fixed expenses. Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 7,000 $560,000 513,000 $ 47,000 Actual Results 5,900 $ 525, 100 476,000 $ 49,100 $34,900 U 37,000 F $ 2,100 u Prepare a flexible budget performance report that shows any variances between budgeted results and actual results....
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses Actual Fixed Budget Variances Results Sales (in units) Sales (in dollars) Total expenses 8,000 6,900 $640,000 587,000 614,100 549,000 $ 65,100 $25,900 U 38,000 F Income from $12,100 U 53,000 operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable...
Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include $350,000 variable expenses and $163.000 fixed expenses. Actual expenses include $153,000 fixed expenses. Actual Fixed Budget Variances Results 5,980 $ 519,200 482,000 Sales (in units) Sales (in dollars) Total expenses 7,e00 $560,000 513,000 $40,800 U 31,000F Income from operations $47.000 $ 37,200 $9,800U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses...
2 Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses...
2 Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. 3 Fixed Budget Variances points Sales (in units) Sales (in dollars) Total expenses Income from operations 8,000 $ 640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 548,000 $ 59,200 $32,800 U 39,000 F $ 6,200 U eBook dot Hint Prepare a flexible budget performance report that shows any variances between...
Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 6,000 $480,000 440,000 $ 40,000 Actual Results 4,900 $ 436,100 400,000 $ 36,100 $43,900 U 40,000 F $ 3,900 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List...
Bay City Company's fixed budget performance report for July follows. The $367,000 budgeted total expenses include $280,000 variable expenses and $87,000 fixed expenses. Actual expenses include $77,000 fixed expenses. Variances Sales (in units) Sales (in dollars Total expenses Fixed Budget 5,000 $400,000 367,000 $ 33,000 Actual Results 3,900 $347,100 330,000 $ 17,100 $52,900U 37,000F $15,900 U Income from operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,000 $640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 550,000 $ 57,200 $32,800 U 37,000 F $ 4,200 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Actual Fixed Budget Variances Results Sales (in units ) Sales (in dollars) Total expenses 8,000 $640,000 587,000 $ 53,000 6,900 $614,100 547,000 $25,900 U 40,000 F $67,100 $14,100 U Income from operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and...
Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include $153,000 fixed expenses. Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 7,000 $560,000 513,000 $ 47,000 Actual Results 5,900 $ 525, 100 476,000 $ 49,100 $34,900 U 37,000 F $ 2,100 u Prepare a flexible budget performance report that shows any variances between budgeted results and actual results....
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses Actual Fixed Budget Variances Results Sales (in units) Sales (in dollars) Total expenses 8,000 6,900 $640,000 587,000 614,100 549,000 $ 65,100 $25,900 U 38,000 F Income from $12,100 U 53,000 operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable...
Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include $350,000 variable expenses and $163.000 fixed expenses. Actual expenses include $153,000 fixed expenses. Actual Fixed Budget Variances Results 5,980 $ 519,200 482,000 Sales (in units) Sales (in dollars) Total expenses 7,e00 $560,000 513,000 $40,800 U 31,000F Income from operations $47.000 $ 37,200 $9,800U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses...
2 Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. 3 Fixed Budget Variances points Sales (in units) Sales (in dollars) Total expenses Income from operations 8,000 $ 640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 548,000 $ 59,200 $32,800 U 39,000 F $ 6,200 U eBook dot Hint Prepare a flexible budget performance report that shows any variances between...
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