please show how you solved this. thank you!
Homework Answers
a)
| Actual results | Flexible budget variance (Actual -flexible) | Flexible budget | (Mater budget -flexible budget) | Master Budget | |
| sales | 46000*60= 2760000 | 230000 F | 46000*55= 2530000 | 55000 F | 45000*55= 2475000 |
| variable cost | 46000*34= 1564000 | 46000 F | 46000*35= 1610000 | 35000 U | 45000*35= 1575000 |
| contribution margin | 1196000 | 276000 F | 920000 | 20000 F | 900000 |
| Fixed cost | 627000 | 33000 F | 660000 | 0 NA | 660000 |
| Net income | 569000 | 309000 F | 260000 | 20000 F | 240000 |
**If Actual revenue is higher than Flexible budget revenue then variance is favorable (and vise versa)
If actual cost is less than flexible budget then variance is favorable (and vise versa)
**If Flexible budget revenue is higher than master budget revenue ,then variance is favorable (and vise versa)
If cost is less than master budget then variance is favorable (and vise versa)
2)Actual amount spent for material B= Flexible budget variance + unfavorable variance -Favorable variance
= 39000 + 800 -400
= 39400
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please show how you solved this. thank you!
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Please show excel equations. Thank you
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please help with this question and all the requirements. Thank You! Kanco Industries has a relevant...
please help with this question and all the requirements. Thank
You!
Kanco Industries has a relevant range extending to 30,800 units each month. The following performance report provides information about Kanco's budget and actual performance for June. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Enter the variances as positive numbers. If the variance is 0, make sure to enter in...
1. Prepare the flexible budget using the information provided. Show calculations/explain where the numbers come from....
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Show calculations/explain where the numbers come from.
2. Answer the corresponding questions about the variances of the
budget.
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Requirement 2. Comment on the results in requirement 1. Please help with choosing the comments based...
Requirement 2. Comment on the results in requirement 1. Please
help with choosing the comments based on the answer above
The total static-budget variance in operating income is $
(number)
There is a(n) (Favorable/Unfavorable)
total flexible-budget
variance and a(n) (Favorable/Unfavorable)
sales-volume variance. The sales-volume variance arises solely
because actual units
manufactured and sold were (less/more)
than the budgeted 3,700 units. The flexible-budget variance in
operating income is due
primarily to the (increase/decrease)
in unit variable costs.
Anderson Enterprises manufactures tires...
Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget...
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Q.3) (24 points) The Table Company manufactures tables for schools. The 20XX operating budget is based on sales of 40,000 units at $50 per table. Operating income is anticipated to be $120,000. Budgeted variable costs are $32 per unit, while fixed costs total $600,000. Actual income for 20XX was a surprising $354,000 on actual sales of 42,000 units at $52 each. Actual variable costs were $30 per unit and fixed costs totaled $570,000. Prepare a variance analysis table that presents...
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Please show excel equations. Thank you
Simon Enterprises has the following information available: Actual Budget 15,000 $20 $8 $145,000 Units Sold Selling Price Variable Costs Per Unit Fixed Costs 12,000 $21 $150.000 Required 1. Prepare the static budget using all of the budgeted amount 2. Prepare the actual income statement using all of the actual amounts 3. Prepare the flexible budget 4. Calculate the sales volume variances 5. Calculate the flexible budget variances 6. Comment on the results Actual Flex...
please help with this question and all the requirements. Thank
You!
Kanco Industries has a relevant range extending to 30,800 units each month. The following performance report provides information about Kanco's budget and actual performance for June. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Enter the variances as positive numbers. If the variance is 0, make sure to enter in...
1. Prepare the flexible budget using the information provided.
Show calculations/explain where the numbers come from.
2. Answer the corresponding questions about the variances of the
budget.
Class Exercise for Standard Cost BUDGET 10,000 FLEXIBLE Units of output planned and actual ACTUAL 9,000 Direct material units per unit of output units price Labor units per unit of output hours rate Sales 300,000 306,000 Less variable costs of manufacturing Direct Material Direct Labor Factory Overhead Total 120,000 40,000 60,000 220,000 117,000...
Requirement 2. Comment on the results in requirement 1. Please
help with choosing the comments based on the answer above
The total static-budget variance in operating income is $
(number)
There is a(n) (Favorable/Unfavorable)
total flexible-budget
variance and a(n) (Favorable/Unfavorable)
sales-volume variance. The sales-volume variance arises solely
because actual units
manufactured and sold were (less/more)
than the budgeted 3,700 units. The flexible-budget variance in
operating income is due
primarily to the (increase/decrease)
in unit variable costs.
Anderson Enterprises manufactures tires...
Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 11,000 travel locks for Gianni, Inc. B (Click the icon to view the report) (For variances with a $0 value, make sure to enter "O" in the appropriate cells.) i Data Table Gianni, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2018 Actual Flexible Budget Results Variance Units 11,000L Sales Revenue S 209,000 Variable Costs 51,900 Contribution...
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