Homework Answers
| Actual | Master budget | |
| Sales | $153,766 | $155,188 |
| Variable costs | $69,380 | $61,673 |
| Fixed costs | $11,081 | $10,592 |
| Operating income | $73,305 | $82,923 |
Operating income master budget variance = Actual operating income - Master budget operating income
= $73,305 - $82,923
= - $9,618
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Question 1 2 pts Devin Company has the following data for their budget and actual performance....
Devin Company has the following data for their budget and actual performance. Actual Master budget Master...
Devin Company has the following data for their budget and actual performance. Actual Master budget Master Budget Variance Sales Variable Costs Fixed Costs 152,310 68,345 10,782 156,066 62,867 12,946 What is the operating income master budget variance? If it is an unfavorable variance use a negative sign immediately before your answer. Hint: Remember you'll need to calculate budgeted and actual operating income before you can determine the operating income master budget variance.
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A flexible budget performance report compares the differences between: Help Save & Exit Actual performance and budgeted performance based on actual sales volume. Actual performance over several periods Budgeted performance over several periods Actual performance and budgeted performance based on budgeted sales volume Actual performance and standard costs at the budgeted sales volume We were unable to transcribe this image$29,000 unfavorable $29,000 favorable $22,500 unfavorable. $52.500 favorable. $52,500 unfavorable Identify the situation below that will result in a favorable variance...
1. What is the budgeted sales price per unit? 2. What is the budgeted variable expense...
1. What is the budgeted sales price per unit? 2. What is the budgeted variable expense per unit? 3. What is the budgeted fixed cost for the period? 4. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (U.) 5. Management would like to determine the portion of the master budget variance that is (a) due to volume being different than originally anticipated, and (b) due to some other unexpected cause. Prepare a...
Devin Company has the following data for their budget and actual performance. Actual Master budget Master Budget Variance Sales Variable Costs Fixed Costs 152,310 68,345 10,782 156,066 62,867 12,946 What is the operating income master budget variance? If it is an unfavorable variance use a negative sign immediately before your answer. Hint: Remember you'll need to calculate budgeted and actual operating income before you can determine the operating income master budget variance.
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...
Req. 4,5, 6
A Data Table Actual vs. Budget Performance Report For the Month Ended August 31 Master Budget Master Budget Actual Variance 53,000 Sales volume (number of cases sold) Sales revenue 155,800 $ 137 800 68.900 Less: Variable expenses Contribution margin $ 76 400 $ 68.200 8 200 S 68.900 67 000 Less: Fixed expenses Operating income 1.900 Done 4. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (U.) 5. Management...
Master Master Budget Variance Actual 60,500 Budget 57,000 Sales volume (number of cases sold) Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses $ 193,700 $ 71,200 176,700 62,700 $ 122,500 $ 73,200 114,000 72,000 $ 49,300 $ 42,000 Operating income The budgeted sales price per unit is $ 3.10 Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.10. Requirement 3. What is the budgeted fixed cost for the...
ses. To follow is the company's performance report in contribution margin format for August: Data Table The Outrageous Balloon Company Actual vs. Budget Performance Report For the Month Ended August 31 Master Budget Master Budget Variance Actual Sales volume (number of cases sold) Sales revenue 60,000 57,000 Less: Variable expenses Contribution margin 217,800 $ 124,500 93,300 $ 66,200 193,800 114,000 79,800 65,000 Less: Fixed expenses Operating income $ 27,100 $ 14.800 PR 7 of 9 (1 complete) ulti-pack cases. To...
Complete the following Flexible Budget Performance Report. Interpret your results. Remember on the variances to put Favorable (F) or Unfavorable (U) Flexible i e Flexible Volume Master Actual Budget B. Budget Variance Budget Variance Sales 57,500 57,500 53,000 Volume Sales Revenue $206,500 ($3.50 per unit) Less: Variable Expenses $83,200 ($1.40 per unit) Contribution $123,300 Margin Less: Fixed $65,500 $64,000 Expenses Operating $57,800 Income
A flexible budget performance report compares the differences between: Help Save & Exit Actual performance and budgeted performance based on actual sales volume. Actual performance over several periods Budgeted performance over several periods Actual performance and budgeted performance based on budgeted sales volume Actual performance and standard costs at the budgeted sales volume We were unable to transcribe this image$29,000 unfavorable $29,000 favorable $22,500 unfavorable. $52.500 favorable. $52,500 unfavorable Identify the situation below that will result in a favorable variance...
1. What is the budgeted sales price per unit? 2. What is the budgeted variable expense per unit? 3. What is the budgeted fixed cost for the period? 4. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (U.) 5. Management would like to determine the portion of the master budget variance that is (a) due to volume being different than originally anticipated, and (b) due to some other unexpected cause. Prepare a...
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