Homework Answers
| Bay City Company | ||||
| Flexible budget performance report | ||||
| For month ended July 31 | ||||
| Flexible budget | Actual results | Variances | Fav./Unf. | |
| Sales | 552000 | 614100 | 62100 | Favorable |
| Variable expenses | 345000 | 370000 | 25000 | Unfavorable |
| Contribution margin | 207000 | 244100 | 37100 | Favorable |
| Fixed expenses | 187000 | 177000 | 10000 | Favorable |
| Income from Operations | 20000 | 67100 | 47100 | Favorable |
| Workings: | ||||
| Flexible budget | ||||
| Sales | 552000 | =640000/8000*6900 | ||
| Variable expenses | 345000 | =400000/8000*6900 | ||
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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...
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 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...
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 $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 $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. Variances Fixed Budget Sales (in units) 6,000 Sales (in dollars) $480,000 Total expenses 440,000 Income from $ 40,000 operations Actual Results 4,900 $441,000 408,000 $ 33,000 $39,000 U 32,000 F $ 7,000U 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 $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 $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...
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 $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 $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 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...
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 $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 $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Variances Fixed Budget Sales (in units) 6,000 Sales (in dollars) $480,000 Total expenses 440,000 Income from $ 40,000 operations Actual Results 4,900 $441,000 408,000 $ 33,000 $39,000 U 32,000 F $ 7,000U 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 $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 $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...
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...
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