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4. A flexible budget performance report compares the differences between: a. Actual performance and budgeted performance...
A flexible budget performance report compares the differences between: Help Save & Exit Actual performance and...
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...
FLEXIBLE BUDGET PERFORMANCE REPORT Top managers of Hannah Industries predicted 2018 sales of 14,400 units of...
FLEXIBLE BUDGET PERFORMANCE REPORT Top managers of Hannah Industries predicted 2018 sales of 14,400 units of its product at a unit price of $9.00. Actual sales for the year were 14,000 units at $11.50 each. Variable costs were budgeted at $2.10 per unit, and actual variable costs were $2.20 per unit. Actual fixed costs of $42,000 exceeded budgeted foed costs by $5,500. Prepare Hannah's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this...
Match each form to the correct definition Terms a. Flexible budget b. Flexible budget variance c....
Match each form to the correct definition Terms a. Flexible budget b. Flexible budget variance c. Sales volume variance d Static budget e. Variance - Definitions 1. A summarized budget for several levels of volume that separates variable costs from foxed costs 2. A budget prepared for only one level of sales 3. The difference between an actual amount and the budgeted amount 4. The difference arising because the company actually earned more or less revenue, or incurred more or...
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance...
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $333,750 budgeted expenses include $293,700 variable expenses and $40,050 fixed expenses. Actual expenses include $46,350 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Actual Fixed Budget Results 8,900 11,300 $445,000 $ 565,000 333,750 395,500 $111,250 $ 169,500 $120,000 F 61,750 U $ 58,250 F es Prepare a flexible budget performance report showing any variances...
Exercise 08-4 Preparing a flexible budget performance report LO P1 0.85 points Xion Co. budgets a...
Exercise 08-4 Preparing a flexible budget performance report LO P1 0.85 points Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $270,000. During June, the company produced and sold 10,800 units and incurred actual variable costs of $351,000 and actual fixed costs of $285,000. Actual sales for June were $885,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately....
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance rep...
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $326,250 budgeted expenses include $278,400 variable expenses and $47,850 fixed expenses. Actual expenses include $56,750 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,700 $435,000 326,250 $108,750 Actual Results 11,100 $555,000 388,500 $166,500 $120,000 62,250U $ 57,750 F Prepare a flexible budget performance report showing any variances between budgeted 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. 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...
Surf Side Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30...
Surf Side Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Actual Flexible Budget V ariance ? Flexible Budget ? Master Budget Volume Variance ? Sales volume (number of pools installed) 5 $ 104,000 ? $ 109,000 $ 87,200 Sales revenue Operating expenses: Variable expenses $ 60,000 20,000 65,000 23,600 52,000 23,600 Fixed expenses Total operating expenses 1. How many pools did Surf Side originally think it would install in April? 2. How many pools...
Req. 4,5, 6 A Data Table Actual vs. Budget Performance Report For the Month Ended August...
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...
Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted an...
Lewis Co. reports the following results for May.
Prepare a flexible
budget report showing variances between budgeted and actual
results.
please help
Lewis Co. reports the following results for May Prepare a flexible budget report showing variar results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 1,250 per unit $ 500 per unit $153,500 1,390 Actual $2,836,000 5 831,000 $ 141,000 1,590 List variable and fixed expenses separately (Indicate the effect of each variance by selecting...
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...
FLEXIBLE BUDGET PERFORMANCE REPORT Top managers of Hannah Industries predicted 2018 sales of 14,400 units of its product at a unit price of $9.00. Actual sales for the year were 14,000 units at $11.50 each. Variable costs were budgeted at $2.10 per unit, and actual variable costs were $2.20 per unit. Actual fixed costs of $42,000 exceeded budgeted foed costs by $5,500. Prepare Hannah's flexible budget performance report. What variance contributed most to the year's favorable results? What caused this...
Match each form to the correct definition Terms a. Flexible budget b. Flexible budget variance c. Sales volume variance d Static budget e. Variance - Definitions 1. A summarized budget for several levels of volume that separates variable costs from foxed costs 2. A budget prepared for only one level of sales 3. The difference between an actual amount and the budgeted amount 4. The difference arising because the company actually earned more or less revenue, or incurred more or...
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $333,750 budgeted expenses include $293,700 variable expenses and $40,050 fixed expenses. Actual expenses include $46,350 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Actual Fixed Budget Results 8,900 11,300 $445,000 $ 565,000 333,750 395,500 $111,250 $ 169,500 $120,000 F 61,750 U $ 58,250 F es Prepare a flexible budget performance report showing any variances...
Exercise 08-4 Preparing a flexible budget performance report LO P1 0.85 points Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $270,000. During June, the company produced and sold 10,800 units and incurred actual variable costs of $351,000 and actual fixed costs of $285,000. Actual sales for June were $885,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately....
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $326,250 budgeted expenses include $278,400 variable expenses and $47,850 fixed expenses. Actual expenses include $56,750 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,700 $435,000 326,250 $108,750 Actual Results 11,100 $555,000 388,500 $166,500 $120,000 62,250U $ 57,750 F Prepare a flexible budget performance report showing any variances between budgeted 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. 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...
Surf Side Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended April 30 Actual Flexible Budget V ariance ? Flexible Budget ? Master Budget Volume Variance ? Sales volume (number of pools installed) 5 $ 104,000 ? $ 109,000 $ 87,200 Sales revenue Operating expenses: Variable expenses $ 60,000 20,000 65,000 23,600 52,000 23,600 Fixed expenses Total operating expenses 1. How many pools did Surf Side originally think it would install in April? 2. How many pools...
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...
Lewis Co. reports the following results for May.
Prepare a flexible
budget report showing variances between budgeted and actual
results.
please help
Lewis Co. reports the following results for May Prepare a flexible budget report showing variar results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 1,250 per unit $ 500 per unit $153,500 1,390 Actual $2,836,000 5 831,000 $ 141,000 1,590 List variable and fixed expenses separately (Indicate the effect of each variance by selecting...
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