Homework Answers
Answer
|
Actual results |
Flexible Budget variance |
Flexible Budget |
Sales Volume variance |
Master Budget |
|
|
Units |
1860 |
1750 |
|||
|
Revenues |
$119,040 |
1860 U |
$120,900 |
$113,750 |
|
|
Variable costs |
$52,090 |
$61,380 |
$57,750 |
||
|
Fixed costs |
$21,200 |
$26,000 |
$26,000 |
||
|
Operating Income |
$45,750 |
$33,520 |
$30,000 |
- Correct Answer for “D” missing amount = $ 33,520
- Working
|
Actual results |
Flexible Budget variance |
Flexible Budget |
Sales Volume variance |
Master Budget |
|
|
Units |
1860 |
1750 |
|||
|
Revenues |
119040 |
1860 U |
=119040+1860 |
=+(120900/1860)*1750 |
|
|
Variable costs |
=119040-21200-45750 |
=+(57750/1750)*1860 |
57750 |
||
|
Fixed costs |
21200 |
26000 |
=113750-57750-30000 |
||
|
Operating Income |
45750 |
=120900-61380-26000 |
30000 |
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Luanna Inc. manufactures game consoles. Some of the company's data was misplaced. Use the following information...
Luanna Inc. manufactures game consoles. Some of the company's data was misplaced. Use the following information...
Luanna Inc. manufactures game consoles. Some of the company's data was misplaced. Use the following information to replace the lost data. Actual Results Flexible Budget Variance Flexible Budget Sales Volume Variance Master Budget Units 2,080 1,860 Revenues $ 156,000 $ 2,080 U A B Variable costs C $ 81,840 Fixed costs $ 22,300 Operating income $ 46,850 D $ 41,000 The amount C, to nearest dollar, is: Multiple Choice $86,850. $109,150. $69,150. $133,700. Impossible to determine without further information.
Nicholas Company manufacturers TVs. Some of the company's data was misplaced. Use the following information to...
Nicholas Company manufacturers TVs. Some of the company's data was misplaced. Use the following information to replace the lost data: Analysis Units Sold Sales- Actual Flexible Flexible Volume Static Results Variances Budget Variances Budget 112,500 $42,080 $1,000 F (A) $1,400 U (B) (C) $200 U $15,860 $8,280 $9,140 Revenues Variable Costs Fixed Costs Operating Income $17,740 (D) (E) Required: a. What are the respective flexible-budget revenues (A)? b. What are the static-budget revenues (B)? C. What are the actual variable...
Nicholas Company manufacturers TVs. Some of the company's data was misplaced. Use the following information to...
Nicholas Company manufacturers TVs. Some of the company's data was misplaced. Use the following information to replace the lost data: Analysis Units Sold Sales- Actual Flexible Flexible Volume Static Results Variances Budget Variances Budget 112,500 $42,080 $1,000 F (A) $1,400 U (B) (C) $200 U $15,860 $8,280 $9,140 Revenues Variable Costs Fixed Costs Operating Income $17,740 (D) (E) Required: a. What are the respective flexible-budget revenues (A)? b. What are the static-budget revenues (B)? C. What are the actual variable...
Classic Products Company manufactures colonial style desks. Some of the company's data was misplaced. Use the...
Classic Products Company manufactures colonial style desks. Some of the company's data was misplaced. Use the following information to replace the lost data: Actual Results Flexible Budget Variances Flexible Budget Salesminus−Volume Variances Static Budget Units sold 490,000 490,000 447,950 Revenues $186,550 $4,400 F (A) $6,460 U (B) Variable costs (C) $860 U $70,970 $10,700 F $81,670 Fixed costs $36,510 $3,750 F $40,260 0 $40,260 Operating income $78,210 (D) $70,920 (E) $66,680 What is the total salesminus−volume variance (E)?
Classic Products Company manufactures colonial style desks. Some of the company's data was misplaced. Use the...
Classic Products Company manufactures colonial style desks. Some of the company's data was misplaced. Use the following information to replace the lost data: Actual Results Flexible Budget Variances Flexible Budget 500,000 Sales - Volume Variances 500,000 $185,050 Static Budget 458,850 (B) $4,400 F $6,460 U Units sold Revenues Variable costs Fixed costs Operating income $800 U $3,750 F $68,740 $40,520 $10,900 F 0 $79,640 $40,520 $36,770 $78,740 (D) $71,390 (E) $66,950 What is the total static - budget variance? O...
Help, please. I have test Problem 5 (10 points) Answer the following questions using the information...
Help, please. I have test
Problem 5 (10 points) Answer the following questions using the information below (show calculations) Callsh Company manufactures tires. Some of the company's data was misplaced. Use the following information to replace the lost data: Sales-Volume Variances Flexible Budget 450,000 Flexible Budger Variances Static Budget Actual Results 450,000 Units sold 412,500 Revenues (B) $168,320 $5,600 U (A) $4,000 F Variable costs (C) $72,800 $63,440 $9,360 F $800 U Fixed costs $33,120 $36,560 $3,440 F $36,560 Operating...
Joyson Inc., manufactures dolls and has the following data from its operation for the year just...
Joyson Inc., manufactures dolls and has the following data from
its operation for the year just completed.
What is the sales volume variance in terms of operating income
(to the nearest dollar):
Flexible Master Actual Budget В Budget 1,260 1,560 $102,000 Units Sales (dollars) $20,700 F $66,780 Variable cost Е Contribution Margin $1,500 U D $5,090 Fixed cost 15,300 Operating income cl
Rick Daley, Inc. manufactures a single product. The company budgeted to produce and sell 10,000 units...
Rick Daley, Inc. manufactures a single product. The company budgeted to produce and sell 10,000 units for 2016. However, the actual production and sales volume for the period was only 8000 units at $16 per unit. The net income static budget variance was $30,000 U and the Sales Volume variance for the period was $16,000 U Required: Complete the missing information in the following table. Enter your answers for each missing value in the appropriate cell. Static Budget Actual Results...
Pokeman Bunch Inc., manufactures Poke Monster figures and has the following data from its operation for...
Pokeman Bunch Inc., manufactures Poke Monster figures and has the following data from its operation for the year just completed. Flexible Budget Actual 1,500 $93,000 Master Budget 1,200 $18,000F $60,000 Units Sales (dollars) Variable cost Contribution Margin Fixed cost Operating income $1,500U $5,000 $ 7,500 The total operating-income variance, to the nearest dollar, is: Multiple Choice o o $500 favorable. O $1,500 unfavorable. o $1,500 favorable. o $2,500 unfavorable. $3,000 favorable.
Odessa, Inc., reports the following information concerning operations for the most recent month: Actual (based on...
Odessa, Inc., reports the following information concerning operations for the most recent month: Actual (based on actual of 675 units) $112,340 Master Budget (based on budgeted 750 units) $120.000 Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits 14,232 16,060 10,980 6,512 6.000 $ 53,784 $S1.556 15,000 18,000 12,750 7. 200 6,000 $ 58,950 $ 61,050 5,360 12,382 11.961 530,203 $ 28,353...
Nicholas Company manufacturers TVs. Some of the company's data was misplaced. Use the following information to replace the lost data: Analysis Units Sold Sales- Actual Flexible Flexible Volume Static Results Variances Budget Variances Budget 112,500 $42,080 $1,000 F (A) $1,400 U (B) (C) $200 U $15,860 $8,280 $9,140 Revenues Variable Costs Fixed Costs Operating Income $17,740 (D) (E) Required: a. What are the respective flexible-budget revenues (A)? b. What are the static-budget revenues (B)? C. What are the actual variable...
Nicholas Company manufacturers TVs. Some of the company's data was misplaced. Use the following information to replace the lost data: Analysis Units Sold Sales- Actual Flexible Flexible Volume Static Results Variances Budget Variances Budget 112,500 $42,080 $1,000 F (A) $1,400 U (B) (C) $200 U $15,860 $8,280 $9,140 Revenues Variable Costs Fixed Costs Operating Income $17,740 (D) (E) Required: a. What are the respective flexible-budget revenues (A)? b. What are the static-budget revenues (B)? C. What are the actual variable...
Classic Products Company manufactures colonial style desks. Some of the company's data was misplaced. Use the following information to replace the lost data: Actual Results Flexible Budget Variances Flexible Budget 500,000 Sales - Volume Variances 500,000 $185,050 Static Budget 458,850 (B) $4,400 F $6,460 U Units sold Revenues Variable costs Fixed costs Operating income $800 U $3,750 F $68,740 $40,520 $10,900 F 0 $79,640 $40,520 $36,770 $78,740 (D) $71,390 (E) $66,950 What is the total static - budget variance? O...
Help, please. I have test
Problem 5 (10 points) Answer the following questions using the information below (show calculations) Callsh Company manufactures tires. Some of the company's data was misplaced. Use the following information to replace the lost data: Sales-Volume Variances Flexible Budget 450,000 Flexible Budger Variances Static Budget Actual Results 450,000 Units sold 412,500 Revenues (B) $168,320 $5,600 U (A) $4,000 F Variable costs (C) $72,800 $63,440 $9,360 F $800 U Fixed costs $33,120 $36,560 $3,440 F $36,560 Operating...
Joyson Inc., manufactures dolls and has the following data from
its operation for the year just completed.
What is the sales volume variance in terms of operating income
(to the nearest dollar):
Flexible Master Actual Budget В Budget 1,260 1,560 $102,000 Units Sales (dollars) $20,700 F $66,780 Variable cost Е Contribution Margin $1,500 U D $5,090 Fixed cost 15,300 Operating income cl
Rick Daley, Inc. manufactures a single product. The company budgeted to produce and sell 10,000 units for 2016. However, the actual production and sales volume for the period was only 8000 units at $16 per unit. The net income static budget variance was $30,000 U and the Sales Volume variance for the period was $16,000 U Required: Complete the missing information in the following table. Enter your answers for each missing value in the appropriate cell. Static Budget Actual Results...
Pokeman Bunch Inc., manufactures Poke Monster figures and has the following data from its operation for the year just completed. Flexible Budget Actual 1,500 $93,000 Master Budget 1,200 $18,000F $60,000 Units Sales (dollars) Variable cost Contribution Margin Fixed cost Operating income $1,500U $5,000 $ 7,500 The total operating-income variance, to the nearest dollar, is: Multiple Choice o o $500 favorable. O $1,500 unfavorable. o $1,500 favorable. o $2,500 unfavorable. $3,000 favorable.
Odessa, Inc., reports the following information concerning operations for the most recent month: Actual (based on actual of 675 units) $112,340 Master Budget (based on budgeted 750 units) $120.000 Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits 14,232 16,060 10,980 6,512 6.000 $ 53,784 $S1.556 15,000 18,000 12,750 7. 200 6,000 $ 58,950 $ 61,050 5,360 12,382 11.961 530,203 $ 28,353...
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