Additional Information (for all entries; please see the posted Excel spreadsheet):
Sales Activity Variance | $ 1,58,770.00 | U | |||||||||||
Market share variance | $ 1,99,760.00 | U | |||||||||||
Industry Volume variance | $ 40,990.00 | F | |||||||||||
Working : | |||||||||||||
Sales activity variance = (Actual unit sold - Budgeted unit) * Budgeted contribution margin | |||||||||||||
Sales activity variance = (108960 - 145044) * 4.40 | |||||||||||||
Sales activity variance = 158770 (U) | |||||||||||||
Market share variance = (Actual unit sold * Standard contribution margin per unit) - (Standard unit sold * Standard contribution margin) | |||||||||||||
Market share variance = (108960 * 4.40) - (908000 * 0.17 * 4.40) | |||||||||||||
Market share variance = 479424-679184 | |||||||||||||
Market share variance = 199760 (U) | |||||||||||||
Industry volume variance = (Standard unit sold * Standard contribution margin per unit) - (Budgeted units sold * Standard contribution margin per unit) | |||||||||||||
Industry volume variance = (908,000 * 0.17 * 4.4) - (145044 * 4.40) | |||||||||||||
Industry volume variance = 679184 - 638194 | |||||||||||||
Industry volume variance = 40990 (F) | |||||||||||||
Additional Information (for all entries; please see the posted Excel spreadsheet): Sales for 2020 are $310,000....
help please
Winter 2020 Budget Planning Following is selected information relating to the operations of Pocketchange Company, a tile distributor September 30, 2020 - Trial Balance information $ ................................. Accounts receivable..... ......... Inventory Plant and equipment, net of Acc. Dep. Accounts payable.............................. Capital stock......................... Retained earnings.... . ....... 8.000 24.800 39.600 428,200 24,050 150,000 326,550 500,600 $ 500,600 $ a. Actual and budgeted sales data: September (actual)................... October.... November................................ December................... .. January... BERBEDRE 62.000 66,000 80,000 94,000 48.000 b. Gross...
Carlberg Corp., a merchandiser, recently completed its 2017 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company’s balance sheets and income statement follow. CARLBERG...
Balance Sheet Preparation The December 31, 2016, balance sheet accounts of Hitt Company are shown here in alphabetical order: Accounts Payable $22,400 Equipment $72,400 Accounts Receivable 21,500 Inventory 37,200 Accumulated Depreciation: Buildings 53,000 Land 30,000 Accumulated Depreciation: Equipment 35,100 Marketable Securities (short-term) 6,100 Additional Paid-in Capital on Common Stock 24,000 Patents (net) 9,800 Additional Paid-in Capital on Preferred Stock 11,500 Preferred Stock, $100 par 21,000 Allowance for Doubtful Accounts 800 Retained Earnings 46,200 Bonds Payable (due 2024) 77,000 Revenues 107,000...
Using the following information for Emergent Corporation, prepare a properly classified balance sheet for July 31, 2019. Accounts Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation - Equipment Additional Paid-in Capital - Common Stock Allowance for Uncollectible Accounts Buildings Cash Fund for Stock Redemption Cash Petty Cash Claim for Income Tax Refund Common Stock ($1 par value) Employees' Payroll Taxes Payable Income Taxes Payable Interest Payable Interest Receivable Inventory, July 31 Investment Trading Securities Investments in Undeveloped Property Land...
3. Katy Manufacturing Co's adjusted trial balance for the year 2 * adjusted trial balance for the year 2020 is given below. Cash and Cash Equivalents Accounts Receivable Allowance for Doubtful Accounts Sales Revenue Prepaid Expenses Inventory - Finished Goods Equipment Accumulated Depreciation - Equipment Administrative Expenses Accounts Payable Short-Term Notes Payable Income Taxes Payable Additional Paid-In Capital Retained Earnings Rent Expenses Interest Expense Salaries Expenses Treasury Stock Long-Term Debt Common Stock Income Tax Expense Cost of Goods Sold 18,500...
Carla Vista Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below. Debit Credit Cash Accounts Receivable Inventory Land Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment $27,300 59,000 23,100 62,800 104,400 43,000 Accounts Payable Interest Payable Dividends Payable Unearned Rent Revenue Bonds Payable (10%) Common Stock ($10 par) Paid-in Capital in Excess of Par-Common Stock Preferred Stock ($20 par) Paid-in Capital in Excess of Par-Preferred...
The following information is taken from the 2020 annual report
of Wildhorse, Inc. Wildhorse’s fiscal year ends December 31 of each
year. Wildhorse’s December 31, 2020, balance sheet is as
follows.
Wildhorse, Inc.
Balance Sheet
December 31, 2020
Assets
Cash
$420
Inventory
1,770
Total current assets
2,190
Plant and equipment
1,800
Accumulated depreciation
(144)
Total assets
3,846
Liabilities
Bonds payable (net of discount)
$1,426
Stockholders’ equity
Common stock
1,500
Retained earnings
920
Total liabilities and
stockholders’ equity
$3,846
Note X:...
The following information is taken from the 2020 annual report
of Wildhorse, Inc. Wildhorse’s fiscal year ends December 31 of each
year. Wildhorse’s December 31, 2020, balance sheet is as
follows.
Wildhorse, Inc.
Balance Sheet
December 31, 2020
Assets
Cash
$420
Inventory
1,770
Total current assets
2,190
Plant and equipment
1,800
Accumulated depreciation
(144)
Total assets
3,846
Liabilities
Bonds payable (net of discount)
$1,426
Stockholders’ equity
Common stock
1,500
Retained earnings
920
Total liabilities and
stockholders’ equity
$3,846
Note X:...
The adjusted trial balance of Windsor Company and other related information for the year 2020 are presented as follows. WINDSOR COMPANY ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $ 43,170 Accounts Receivable 165,670 Allowance for Doubtful Accounts $ 9,050 Prepaid Insurance 6,250 Inventory 210,670 Equity Investments (long-term) 341,170 Land 87,170 Construction in Progress (building) 126,170 Patents 36,000 Equipment 402,170 Accumulated Depreciation-Equipment 240,350 Discount on Bonds Payable 20,000 Accounts Payable 150,170 Accrued Liabilities 51,370 Notes Payable 96,170 Bonds Payable 202,170 Common...
The following information is
taken from the 2020 annual report of Wildhorse, Inc. Wildhorse’s
fiscal year ends December 31 of each year. Wildhorse’s December 31,
2020, balance sheet is as follows.
Wildhorse,
Inc.
Balance Sheet
December 31, 2020
Assets
Cash
$420
Inventory
1,770
Total current assets
2,190
Plant and equipment
1,800
Accumulated depreciation
(144)
Total assets
3,846
Liabilities
Bonds payable (net of
discount)
$1,426
Stockholders’
equity
Common stock
1,500
Retained earnings
920
Total liabilities and
stockholders’ equity
$3,846
Note X:...