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4. Was the sales variance favorable or unfavorable? (Refer to...
Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Sales in units 7,700 11,000 3,300 Favorable...
Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Sales in units 7,700 11,000 3,300 Favorable Variable expenses Sales commissions $2.860 $1,012 Unfavorable Advertising expense $1,848 1,078 3.696 88 Favorable 990 3,850 Travel expense 154 Unfavorable Free samples given out 1,540 1.210 330 Favorable Total variable 8,162 8,910 748 Unfavorable Fixed expenses Rent 1,100 1,000 1,100 1,000 -O-Neither Favorable nor Unfavorable -- Neither Favorable nor Unfavorable Sales salaries Office salaries 600 600 -O-Neither Favorable nor Unfavorable Depreciation-autos (sales staff) Total...
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable...
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U). Item Budget Actual Variance For U Sales price $400 $390 Sales revenue $360,000 $390,000 $ 192,500 $180,000 Cost of goods sold Material purchases at 5,000 pounds $137,500 $140,000 Materials usage $90,000 $89,000 Production volume 950 units 900 units Wages at 4,000 hours $30,000 $29,350 Labor usage at $12 per hour $48,000 $48,500 Research and development expense $11,000 $12,500 Selling and administrative expenses $24,500...
Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable....
Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round intermediate calculations.) Volume Variance Volume variance Required 1 Required 3 Required 1 Required 2 Required 3 Prepare an overhead variance report at the actual activity level of 9,000 units. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no...
Clothing Department Budget Report For the Month Ended October 31, 2020 Difference Favorable Unfavorable Neither Favorable...
Clothing Department Budget Report For the Month Ended October 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual 8,100 9.000 900 Favorable Sales in units Variable expenses Sales commissions Advertising pense Travel expense $1,620 910 3.988 1,782 8.100 $2.250 $630 Unfavorable 720 90 Favorable 3.600 288 Favorable 990 792 Favorable 7.560 540 Favorable Free samples given out Total variable Fixed expenses Sales salaries Office salaries Depreciation autos (sales staff) 1.500 1500 -- Neither Favorable nor Unfavorable 1.300 1300...
Clothing Department Budget Report For the Month Ended October 31, 2020 Difference Favorable Unfavorable Neither Favorable...
Clothing Department Budget Report For the Month Ended October 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Sales in units 7,800 10,000 2,200 Favorable Variable expenses Sales commissions $1.872 $2,400 $528 Unfavorable Advertising expense 936 900 36 Favorable Travel expense 3,120 4,000 880 Unfavorable Free samples given out 1,794 1,300 494 Favorable Total variable 7,722 8,600 878 Unfavorable Fixed expenses Rent 1,700 1,700 -0- Neither Favorable nor Unfavorable Sales salaries 1,100 1.100 -0- Neither Favorable nor Unfavorable...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable c...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct matrials$51,600 $50,600 $1,000 Favorable Direct labor Indirect materials 28,800 29,000 200 Unfavorable Indirect labor Utilities Maintenance 56,400 53,600 2,800 Favorable 22,800 22,380 420 Favorable 15,000 14,860 140 Favorable 8,400 8,740340 Unfavorable Total variable 165,0o 183,000 179,180 3,820 Favorable Fixed costs Rent Supervision Depreciation 12,200 12,200 0-Neither Favorable nor Unfavorable 16,900 16,900 0 Neither...
Required: 1. Prepare a flexible budget performance report for 2019. (Indicate the effect of each variance by selecting for favorable, unfavorable, and No variance.)
Phoenix Company’s 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 16,000 units. PHOENIX COMPANYFixed Budget ReportFor Year Ended December 31, 2019Sales$3,600,000Cost of goods soldDirect materials$800,000Direct labor240,000Machinery repairs (variable cost)64,000Depreciation—Plant equipment (straight-line)300,000Utilities ($48,000 is variable)198,000Plant management salaries215,0001,817,000Gross profit1,783,000Selling expensesPackaging80,000Shipping112,000Sales salary (fixed annual amount)270,000462,000General and administrative expensesAdvertising expense132,000Salaries241,000Entertainment expense90,000463,000Income from operations$858,000 Phoenix Company’s actual income statement for 2019 follows. PHOENIX COMPANYStatement of Income from OperationsFor Year Ended December 31, 2019Sales (19,000 units)$4,338,000Cost of...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials $51,240 $50,140 $1,100 Favorable Direct labor 59,780 56,580 3,200 Favorable Indirect materials 25,620 25,820 200 Unfavorable Indirect labor 21,960 21,560 400 Favorable Utilities 18,300 18,170 130 Favorable Maintenance 6,100 6,450 350 Unfavorable Total variable 183,000 178,720 4,280 Favorable Fixed costs Rent 10,100 10,100 -0- Neither Favorable nor Unfavorable Supervision 18,000 18,000 -0-...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) Budget Variance Effect Item Actual Sales price 532 664 Sales revenue 587,000 614,000 $ $ 395,500 Cost of goods sold 367,000 Material purchases at 5,000 pounds 290,500 282,000 Materials usage 190,500 185,000 units 935 units 1,020 units Production volume $ Wages at 4,000 hours $ 59,400 61,400 Labor usage at $16 per...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) Item V ariance Effect Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses Budget $ 652 $ 581,000 $ 386,500 $ 276,000 $ 181,500 960 units...
Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Sales in units 7,700 11,000 3,300 Favorable Variable expenses Sales commissions $2.860 $1,012 Unfavorable Advertising expense $1,848 1,078 3.696 88 Favorable 990 3,850 Travel expense 154 Unfavorable Free samples given out 1,540 1.210 330 Favorable Total variable 8,162 8,910 748 Unfavorable Fixed expenses Rent 1,100 1,000 1,100 1,000 -O-Neither Favorable nor Unfavorable -- Neither Favorable nor Unfavorable Sales salaries Office salaries 600 600 -O-Neither Favorable nor Unfavorable Depreciation-autos (sales staff) Total...
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U). Item Budget Actual Variance For U Sales price $400 $390 Sales revenue $360,000 $390,000 $ 192,500 $180,000 Cost of goods sold Material purchases at 5,000 pounds $137,500 $140,000 Materials usage $90,000 $89,000 Production volume 950 units 900 units Wages at 4,000 hours $30,000 $29,350 Labor usage at $12 per hour $48,000 $48,500 Research and development expense $11,000 $12,500 Selling and administrative expenses $24,500...
Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round intermediate calculations.) Volume Variance Volume variance Required 1 Required 3 Required 1 Required 2 Required 3 Prepare an overhead variance report at the actual activity level of 9,000 units. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no...
Clothing Department Budget Report For the Month Ended October 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual 8,100 9.000 900 Favorable Sales in units Variable expenses Sales commissions Advertising pense Travel expense $1,620 910 3.988 1,782 8.100 $2.250 $630 Unfavorable 720 90 Favorable 3.600 288 Favorable 990 792 Favorable 7.560 540 Favorable Free samples given out Total variable Fixed expenses Sales salaries Office salaries Depreciation autos (sales staff) 1.500 1500 -- Neither Favorable nor Unfavorable 1.300 1300...
Clothing Department Budget Report For the Month Ended October 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual Sales in units 7,800 10,000 2,200 Favorable Variable expenses Sales commissions $1.872 $2,400 $528 Unfavorable Advertising expense 936 900 36 Favorable Travel expense 3,120 4,000 880 Unfavorable Free samples given out 1,794 1,300 494 Favorable Total variable 7,722 8,600 878 Unfavorable Fixed expenses Rent 1,700 1,700 -0- Neither Favorable nor Unfavorable Sales salaries 1,100 1.100 -0- Neither Favorable nor Unfavorable...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct matrials$51,600 $50,600 $1,000 Favorable Direct labor Indirect materials 28,800 29,000 200 Unfavorable Indirect labor Utilities Maintenance 56,400 53,600 2,800 Favorable 22,800 22,380 420 Favorable 15,000 14,860 140 Favorable 8,400 8,740340 Unfavorable Total variable 165,0o 183,000 179,180 3,820 Favorable Fixed costs Rent Supervision Depreciation 12,200 12,200 0-Neither Favorable nor Unfavorable 16,900 16,900 0 Neither...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials $51,240 $50,140 $1,100 Favorable Direct labor 59,780 56,580 3,200 Favorable Indirect materials 25,620 25,820 200 Unfavorable Indirect labor 21,960 21,560 400 Favorable Utilities 18,300 18,170 130 Favorable Maintenance 6,100 6,450 350 Unfavorable Total variable 183,000 178,720 4,280 Favorable Fixed costs Rent 10,100 10,100 -0- Neither Favorable nor Unfavorable Supervision 18,000 18,000 -0-...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) Budget Variance Effect Item Actual Sales price 532 664 Sales revenue 587,000 614,000 $ $ 395,500 Cost of goods sold 367,000 Material purchases at 5,000 pounds 290,500 282,000 Materials usage 190,500 185,000 units 935 units 1,020 units Production volume $ Wages at 4,000 hours $ 59,400 61,400 Labor usage at $16 per...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) Item V ariance Effect Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses Budget $ 652 $ 581,000 $ 386,500 $ 276,000 $ 181,500 960 units...
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