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Required information [The following information applies to the questions displayed below.] As part of its comprehensive...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (2) (3) Flexible-Budget Flexible Variances Budget (1) (4) Sales Volume Variances (5) Master (Static) Budget Actual Units 780 0 780 1,000 Sales Variable costs Contribution margin Fixed costs Operating income $639,600 350,950 $288,650 160,650 $128,000 $15,600F 50F $15,650F 10,650U $ 5,000F $624,000 351,000 $273.000 150,000 $123,000 2200 $176,0000 99,000F $ 77,0000 $800,000 450,000 $350,000 150,000 $200,000 $77,000U Analysis of Total Operating-Income Variance...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (1) (2) Flexible-Budget Variances (3) Flexible Budget Sales Volume Variances (5) Master (Static) Budget Actual Units 1,000 Sales Variable costs 7800 780 2200 $639,600 $15,600F $624,000 $176,000U 350,95050F 351,000 99,000F $288,650 $ 77,0000 160,650 10,650U 150,000* 0 $128,000 $ 5,000F $123,000 $ 77,000U Contribution margin Fixed costs $15,650F $273,000 $800,000 450,000 $350,000 150,000 $200,000 Operating income Analysis of Total Operating Income Variance...
As part of its comprehensive planning and control system, Mopar Company uses a master budget and...
As part of its comprehensive planning and control system, Mopar
Company uses a master budget and subsequent variance analysis. You
are given the following information that pertains to the company’s
only product, XL-10, for the month of December.
Required:
1. Using text Exhibit 14.4 as a guide, complete the missing
parts of the following profit report for December.
2. Based on your completed profit report, determine the dollar
amount, and label (Favorable or Unfavorable) each of the following
variances for...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. ed December 31, 2017 $3,300,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 312017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget included the following fixed budget report it is based on an expected production and sales volume of 15,000 units $3,150.000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities (545,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual...
Required information [The following information applies to the questions displayed below.] Phoenix Company’s 2017 master budget...
Required information [The following information applies to the
questions displayed below.] Phoenix Company’s 2017 master budget
included the following fixed budget report. It is based on an
expected production and sales volume of 15,000 units. PHOENIX
COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales
$ 3,150,000 Cost of goods sold Direct materials $ 915,000 Direct
labor 225,000 Machinery repairs (variable cost) 60,000
Depreciation—Plant equipment (straight-line) 315,000 Utilities
($45,000 is variable) 195,000 Plant management salaries 220,000
1,930,000 Gross...
Part 1 of 2 Required information The following information applies to the questions displayed below) Brodrick...
Part 1 of 2 Required information The following information applies to the questions displayed below) Brodrick Company expects to produce 20100 units for the year ending December 31. A flexible budget for 20,100 units of production reflects sales of $582.900: variable costs of $60,300; and fixed costs of $143,000. If the company instead expects to produce and sell 26,600 units for the year, calculate the expected level of income from operations Flexible Budget Flexible Budget at Total Fixed Variable Amount...
Required information [The following information applies to the questions displayed below.] Phoenix Company’s 2017 master budget...
Required information
[The following information applies to the questions
displayed below.]
Phoenix Company’s 2017 master budget included the following fixed
budget report. It is based on an expected production and sales
volume of 15,000 units.
PHOENIX COMPANY
Fixed Budget Report
For Year Ended December 31, 2017
Sales
$
3,000,000
Cost of goods sold
Direct materials
$
975,000
Direct labor
225,000
Machinery repairs (variable cost)
60,000
Depreciation—Plant equipment (straight-line)
300,000
Utilities ($45,000 is variable)
195,000
Plant management salaries
200,000
1,955,000
Gross...
The following information is available for Brownstone Products Company for the month of July: Units Sales...
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 Master Actual Budget 3,900 3,200 $55,800 $60,000 10,900 16,000 12,800 13,800 7,400 8,000 8,800 10,450 Required: 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable...
Chap 21 Homework Seved Required information The following information applies to the questions displayed below.) Part...
Chap 21 Homework Seved Required information The following information applies to the questions displayed below.) Part 2 of 3 Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. points $3,300,000 Skipped PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment straight-line) Utilities ($30,000 is variable) Plant management salaries...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (2) (3) Flexible-Budget Flexible Variances Budget (1) (4) Sales Volume Variances (5) Master (Static) Budget Actual Units 780 0 780 1,000 Sales Variable costs Contribution margin Fixed costs Operating income $639,600 350,950 $288,650 160,650 $128,000 $15,600F 50F $15,650F 10,650U $ 5,000F $624,000 351,000 $273.000 150,000 $123,000 2200 $176,0000 99,000F $ 77,0000 $800,000 450,000 $350,000 150,000 $200,000 $77,000U Analysis of Total Operating-Income Variance...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (1) (2) Flexible-Budget Variances (3) Flexible Budget Sales Volume Variances (5) Master (Static) Budget Actual Units 1,000 Sales Variable costs 7800 780 2200 $639,600 $15,600F $624,000 $176,000U 350,95050F 351,000 99,000F $288,650 $ 77,0000 160,650 10,650U 150,000* 0 $128,000 $ 5,000F $123,000 $ 77,000U Contribution margin Fixed costs $15,650F $273,000 $800,000 450,000 $350,000 150,000 $200,000 Operating income Analysis of Total Operating Income Variance...
As part of its comprehensive planning and control system, Mopar
Company uses a master budget and subsequent variance analysis. You
are given the following information that pertains to the company’s
only product, XL-10, for the month of December.
Required:
1. Using text Exhibit 14.4 as a guide, complete the missing
parts of the following profit report for December.
2. Based on your completed profit report, determine the dollar
amount, and label (Favorable or Unfavorable) each of the following
variances for...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. ed December 31, 2017 $3,300,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 312017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales...
Required information The following information applies to the questions displayed below) Phoenix Company's 2017 master budget included the following fixed budget report it is based on an expected production and sales volume of 15,000 units $3,150.000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities (545,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual...
Required information [The following information applies to the
questions displayed below.] Phoenix Company’s 2017 master budget
included the following fixed budget report. It is based on an
expected production and sales volume of 15,000 units. PHOENIX
COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales
$ 3,150,000 Cost of goods sold Direct materials $ 915,000 Direct
labor 225,000 Machinery repairs (variable cost) 60,000
Depreciation—Plant equipment (straight-line) 315,000 Utilities
($45,000 is variable) 195,000 Plant management salaries 220,000
1,930,000 Gross...
Part 1 of 2 Required information The following information applies to the questions displayed below) Brodrick Company expects to produce 20100 units for the year ending December 31. A flexible budget for 20,100 units of production reflects sales of $582.900: variable costs of $60,300; and fixed costs of $143,000. If the company instead expects to produce and sell 26,600 units for the year, calculate the expected level of income from operations Flexible Budget Flexible Budget at Total Fixed Variable Amount...
Required information
[The following information applies to the questions
displayed below.]
Phoenix Company’s 2017 master budget included the following fixed
budget report. It is based on an expected production and sales
volume of 15,000 units.
PHOENIX COMPANY
Fixed Budget Report
For Year Ended December 31, 2017
Sales
$
3,000,000
Cost of goods sold
Direct materials
$
975,000
Direct labor
225,000
Machinery repairs (variable cost)
60,000
Depreciation—Plant equipment (straight-line)
300,000
Utilities ($45,000 is variable)
195,000
Plant management salaries
200,000
1,955,000
Gross...
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 Master Actual Budget 3,900 3,200 $55,800 $60,000 10,900 16,000 12,800 13,800 7,400 8,000 8,800 10,450 Required: 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable...
Chap 21 Homework Seved Required information The following information applies to the questions displayed below.) Part 2 of 3 Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. points $3,300,000 Skipped PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment straight-line) Utilities ($30,000 is variable) Plant management salaries...
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