required 5
flexible budget variance
It is the difference between Actual result and re results generated by a flexible budget model
the difference may be favorable or adverse
sales volume variance
It is the difference between the actual and expected number of units sold
Sales volume variance = Actual units sold - Budgeted units sold) x Budgeted price per unit.
the difference may be favorable or adverse
#5 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...
#3 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...
#2 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...
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 $380,000 $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 your answer...
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 $ 380,000 $ 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? 2. What was the company’s master (static) budget operating income for...
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 25,000 30,000 Sales $ 402,000 $ 456,000 Variable costs 232,000 276,000 Fixed costs 161,000 141,000 Required: 1. What was the actual operating income for the period? 2. What was the company’s master (static) budget operating income for...
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: Master (Static) Budget 50,000 $458,000 278,000 143,000 Actual 45,000 $412,000 242,000 Units sold Sales Variable costs Fixed costs 151,000 Required: 1. What was the actual operating income for the period? 2. What was the company's master (static) budget operating income for the period?...
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 25,000 $ 408,000 238,000 161,000 Master (Static) Budget 30,000 $ 456,000 276,000 141,000 Required: 1. What was the actual operating income for the period? 2. What was the company's master (static) budget operating income for...
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 45,000 $390,000 214,000 150,000 Master (Static) Budget 50,000 $ 450,000 270,000 136,000 Required: 1. What was the actual operating income for the period? 2. What was the company's master (static) budget operating income for the...
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...