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1. B,D,A or C
7. absorption costs
8.Fixed budget is a budget that doesn't change due to changes in activity or period begins or output level
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5. (b) A negotiated transfer price: (a) Could never be used in an agreement based on...
A negotiated trans fer price: (a) Could never be used in an agreement based on standard...
A negotiated trans fer price: (a) Could never be used in an agreement based on standard costs and a profit margin. Would not be based on a product market price that has been reduced through bargaining by division managers. Is one that is bargained for between the managers of the buying and selling divisions. Is usually developed by lawyers following defined legal procedures. 5. (b) (c) (d) Assume Vandalia Co. produces and sells the following four products at the given...
Question) Jase Manufacturing Co.'s static budget at 7,800 units of production includes $23,400 for direct labor...
Question) Jase Manufacturing Co.'s static budget at 7,800 units of production includes $23,400 for direct labor and $2,340 for electric power. Total fixed costs are $41,200. At 10,500 units of production, a flexible budget would show? A)variable and fixed costs totaling $66,940 B)variable costs of $34,650 and $41,200 of fixed costs C) variable costs of $34,650 and $55,462 of fixed costs D)variable costs of $25,740 and $41,200 of fixed costs
Xion Co. budgets a selling price of $81 per unit, variable costs of $35 per unit,...
Xion Co. budgets a selling price of $81 per unit, variable costs of $35 per unit, and total fixed costs of $278,000. During June, the company produced and sold 11,600 units and incurred actual variable costs of $359,000 and actual fixed costs of $293,000. Actual sales for June were $965,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and...
Xion Co budgets a selling price of $81 per unit, variable costs of $35 per unit,...
Xion Co budgets a selling price of $81 per unit, variable costs of $35 per unit, and total fixed costs of $281,000. During June, the company produced and sold 11,900 units and incurred actual variable costs of $362,000 and actual fixed costs of $296,000. Actual sales for June were $995,000 Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and...
Xion Co. budgets a selling price of $83 per unit, variable costs of $35 per unit,...
Xion Co. budgets a selling price of $83 per unit, variable costs of $35 per unit, and total fixed costs of $283,000. During June, the company produced and sold 12,100 units and incurred actual variable costs of $364.000 and actual fixed costs of $298.000. Actual sales for June were $1.040.000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and...
Question 15) Mountain Sports Equipment Company projected sales of 82,000 units at a unit sales price...
Question 15) Mountain Sports Equipment Company projected sales of 82,000 units at a unit sales price of $12 for the year Actual sales for the year were 76,000 units at $14.00 per unit. Variable costs were budgeted at $3 per unit, and the actual amount wag $6 per unit. Budgeted fixed costs totaled $376,000, while actual fixed costs amounted to $410,000. What is the sales volume variance for total revenue? A) 80,000 favorable B) $80,000 unfavorable c)$72,000 unfavorable d)$72,000 favorable...
11. Haskell Co.'s budget has 12,000 units of production that includes $40,000 for variable direct labor...
11. Haskell Co.'s budget has 12,000 units of production that includes $40,000 for variable direct labor and S12,000 for variable indirect material cost. Total fixed costs are $25,000. At 15,000 units of production, a flexible budget would show a. variable costs of $65,000 and $25,000 of fixed costs b. variable costs of $50,000 and $37,000 of fixed costs c. variable costs of $52,000 and $25,000 of fixed costs d. Total (variable and fixed) costs of $77,000 12. Below is budgeted...
Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit,...
Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $279,000 During June, the company produced and sold 11,700 units and incurred actual variable costs of $360,000 and actual fixed costs of $294,000. Actual sales for June were $975,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and...
1.) A production manager is evaluated based on the quantity of direct materials used in production....
1.) A production manager is evaluated based on the quantity of direct materials used in production. If the production line actually uses materials to produce 50,000 units when the master budget shows materials needed for 44,000 units, the manager's evaluation should be based on a flexible budget. True or False 2.) Which of the following remains the same when comparing a flexible budget to a master budget? A. Total sales. B. Net income. C. Total variable costs. D. Total fixed...
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system....
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 400,000 $430,000 Variable costs $1,250,000 $1,500,000 Fixed costs $1.500,000 $1,290,000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold Revenues Variable costs...
A negotiated trans fer price: (a) Could never be used in an agreement based on standard costs and a profit margin. Would not be based on a product market price that has been reduced through bargaining by division managers. Is one that is bargained for between the managers of the buying and selling divisions. Is usually developed by lawyers following defined legal procedures. 5. (b) (c) (d) Assume Vandalia Co. produces and sells the following four products at the given...
Xion Co budgets a selling price of $81 per unit, variable costs of $35 per unit, and total fixed costs of $281,000. During June, the company produced and sold 11,900 units and incurred actual variable costs of $362,000 and actual fixed costs of $296,000. Actual sales for June were $995,000 Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and...
Xion Co. budgets a selling price of $83 per unit, variable costs of $35 per unit, and total fixed costs of $283,000. During June, the company produced and sold 12,100 units and incurred actual variable costs of $364.000 and actual fixed costs of $298.000. Actual sales for June were $1.040.000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and...
11. Haskell Co.'s budget has 12,000 units of production that includes $40,000 for variable direct labor and S12,000 for variable indirect material cost. Total fixed costs are $25,000. At 15,000 units of production, a flexible budget would show a. variable costs of $65,000 and $25,000 of fixed costs b. variable costs of $50,000 and $37,000 of fixed costs c. variable costs of $52,000 and $25,000 of fixed costs d. Total (variable and fixed) costs of $77,000 12. Below is budgeted...
Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $279,000 During June, the company produced and sold 11,700 units and incurred actual variable costs of $360,000 and actual fixed costs of $294,000. Actual sales for June were $975,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and...
Static and Flexible Budgets Graham Corporation used the following data to evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 400,000 $430,000 Variable costs $1,250,000 $1,500,000 Fixed costs $1.500,000 $1,290,000 a. Prepare the actual income statement, flexible budget, and static budget. Do not use negative signs with any of your answers below. Actual Results Flexible Budget Static Budget Units sold Revenues Variable costs...
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