Homework Answers
Solution: fixed manufacturing costs and fixed selling and administrative expenses
Explanation: A static budget is often appropriate while evaluation of the manager's effectiveness in controlling the cost behavior in response for the changes in activity which are fixed; and the actual activity level nearly approximates the master budget activity level
Add Answer to:
uestion 8 (1 point) A static budget is usually appropriate in evaluating a manager's effectiveness in...
Question 10 (1 point) A static budget report a) is appropriate in evaluating a manager's effectiveness...
Question 10 (1 point) A static budget report a) is appropriate in evaluating a manager's effectiveness in controlling variable costs. b) may be appropriate in evaluating a manager's effectiveness in controlling costs when the behavior of the costs in response to changes in activity is fixed. U shows costs at only 2 or 3 different levels of activity, d) should be used when the actual level of activity is materially different from the master budget activity level.
Question 1 (1 point) A static budget report is appropriate for a) fixed manufacturing costs. b)...
Question 1 (1 point) A static budget report is appropriate for a) fixed manufacturing costs. b) both fixed manufacturing costs and fixed selling and administrative expenses. c) variable selling and administrative expenses. d) fixed selling and administrative expenses.
Case 1 (2 marks, 2min.) In a non-profit organization, evaluating performance is done through a static...
Case 1 (2 marks, 2min.) In a non-profit organization, evaluating performance is done through a static budget; it is argued that such budget is appropriate in evaluating a manager's effectiveness in controlling all types of costs. Opinion Justification
7) The following static budget is provided: Per Unit Total Sales $ 60 $ 900,000 Less...
7) The following static budget is provided: Per Unit Total Sales $ 60 $ 900,000 Less variable costs: Manufacturing costs 30 450,000 Selling and administrative costs 10 150,000 Contribution margin $ 20 $ 300,000 Less fixed costs: Manufacturing costs 75,000 Selling and administrative costs 125,000 Total fixed costs: 200,000 Net income $ 100,000 What will be the overall volume variance if 12,000 units are produced and sold? A) $80,000 F B) $160,000 U C) $60,000 U D) $80,000 U
Question 36 (1 point) The following is a summarized master budget that Winnipeg Company prepared for...
Question 36 (1 point) The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units. Sales revenue $450,000. Less variable costs: Manufacturing $270,000, Selling and administrative $18,000 Total Variable Costs - $288,000. Contribution margin $162,000. Less fixed costs: Manufacturing $72,000, Selling and administrative $27,000 Total fixed costs: $99,000. Operating income $63,000. Actual results for January were as follows: Units produced and sold 8,500 units, Selling price per unit $55.00, Variable costs per unit: Manufacturing $32.00,...
The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units. Sales re...
The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units. Sales revenue $450,000. Less variable costs: Manufacturing $270,000, Selling and administrative $18,000 Total Variable Costs - $288,000. Contribution margin $162,000. Less fixed costs: Manufacturing $72,000, Selling and administrative $27,000 Total fixed costs: $99,000. Operating income $63,000. Actual results for January were as follows: Units produced and sold 8,500 units, Selling price per unit $55.00, Variable costs per unit: Manufacturing $32.00, Selling and administrative $1.50....
The following static budget is provided: Per unit $50 Total $750,000 Sales Less variable costs: Manufacturing...
The following static budget is provided: Per unit $50 Total $750,000 Sales Less variable costs: Manufacturing costs Selling and administrative costs 20 300,000 10 150,000 $20 $ 300,000 Contribution margin Less fixed costs: Manufacturing costs Selling and administrative costs 76,000 126,000 Total fixed costs 202,000 Net income $ 98,000 What will be the overall volume variance if 18,000 units are produced and sold? Multiple Choice 0 $0 F 0 $60,000 F 0 $360,000 U 0 $158,000 F
The following information is available for Brownstone Products Company for the month of July: Master Budget...
The following information is available for Brownstone Products Company for the month of July: Master Budget 3,800 4,000 $53,200 $60,000 19,000 16,000 16,000 15,000 7,700 8,000 10,000 9,000 Actual Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Required 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable...
The static budget, at the beginning of the month, for Beacon Banner Company follows: Static budget:...
The static budget, at the beginning of the month, for Beacon Banner Company follows: Static budget: Sales volume: 1,100 units; Sales price: $70.00 per unit Variable costs: $33.00 per unit; Fixed costs: $37,800 per month Operating income: $2,900 Actual results, at the end of the month, follows: Actual results: Sales volume: 995 units; Sales price: $75.00 per unit Variable costs: $35.00 per unit; Fixed costs: $35,000 per month Operating income: $4,800 Calculate the sales volume variance for revenue. A. $7,350...
The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units....
The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units. Sales revenue $450,000. Less variable costs: Manufacturing $270,000, Selling and administrative $18,000 Total Variable Costs - $288,000. Contribution margin $162,000. Less fixed costs: Manufacturing $72,000, Selling and administrative $27,000 Total fixed costs: $99,000. Operating income $63,000. Actual results for January were as follows: Units produced and sold 8,500 units, Selling price per unit $55.00, Variable costs per unit: Manufacturing $32.00, Selling and administrative $1.50,...
Question 10 (1 point) A static budget report a) is appropriate in evaluating a manager's effectiveness in controlling variable costs. b) may be appropriate in evaluating a manager's effectiveness in controlling costs when the behavior of the costs in response to changes in activity is fixed. U shows costs at only 2 or 3 different levels of activity, d) should be used when the actual level of activity is materially different from the master budget activity level.
Question 1 (1 point) A static budget report is appropriate for a) fixed manufacturing costs. b) both fixed manufacturing costs and fixed selling and administrative expenses. c) variable selling and administrative expenses. d) fixed selling and administrative expenses.
Question 36 (1 point) The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units. Sales revenue $450,000. Less variable costs: Manufacturing $270,000, Selling and administrative $18,000 Total Variable Costs - $288,000. Contribution margin $162,000. Less fixed costs: Manufacturing $72,000, Selling and administrative $27,000 Total fixed costs: $99,000. Operating income $63,000. Actual results for January were as follows: Units produced and sold 8,500 units, Selling price per unit $55.00, Variable costs per unit: Manufacturing $32.00,...
The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units. Sales revenue $450,000. Less variable costs: Manufacturing $270,000, Selling and administrative $18,000 Total Variable Costs - $288,000. Contribution margin $162,000. Less fixed costs: Manufacturing $72,000, Selling and administrative $27,000 Total fixed costs: $99,000. Operating income $63,000. Actual results for January were as follows: Units produced and sold 8,500 units, Selling price per unit $55.00, Variable costs per unit: Manufacturing $32.00, Selling and administrative $1.50....
The following static budget is provided: Per unit $50 Total $750,000 Sales Less variable costs: Manufacturing costs Selling and administrative costs 20 300,000 10 150,000 $20 $ 300,000 Contribution margin Less fixed costs: Manufacturing costs Selling and administrative costs 76,000 126,000 Total fixed costs 202,000 Net income $ 98,000 What will be the overall volume variance if 18,000 units are produced and sold? Multiple Choice 0 $0 F 0 $60,000 F 0 $360,000 U 0 $158,000 F
The following information is available for Brownstone Products Company for the month of July: Master Budget 3,800 4,000 $53,200 $60,000 19,000 16,000 16,000 15,000 7,700 8,000 10,000 9,000 Actual Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Required 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable...
The following is a summarized master budget that Winnipeg Company prepared for January: Sales 9,000 units. Sales revenue $450,000. Less variable costs: Manufacturing $270,000, Selling and administrative $18,000 Total Variable Costs - $288,000. Contribution margin $162,000. Less fixed costs: Manufacturing $72,000, Selling and administrative $27,000 Total fixed costs: $99,000. Operating income $63,000. Actual results for January were as follows: Units produced and sold 8,500 units, Selling price per unit $55.00, Variable costs per unit: Manufacturing $32.00, Selling and administrative $1.50,...
Most questions answered within 3 hours.
-
Mr. and Mrs. Brown report taxable income of $130,000 in 2018. In
addition, they report the...
asked 1 hour ago -
You capture data by having 8 people fill in 30 small dots on a
piece of...
asked 4 hours ago -
What are the z-values such that 70% of the area lies in the
middle of the...
asked 6 hours ago -
You borrow $29,500 to purchase a brand new car. The interest
rate is 6%, and the...
asked 6 hours ago -
The amount of time it takes an asteroid, whose average distance
from the Sun is 4.70...
asked 6 hours ago -
A 0.289 kg mass slides on a frictionless floor with a speed of
1.34 m/s. The...
asked 6 hours ago -
15.A box contains five red balls, three green balls, and two
yellow balls. Suppose you select...
asked 9 hours ago -
Assume you are given the following for Stackelberg industries:
Return on Assets (ROA) = 8%
Debt...
asked 8 hours ago -
an engineer proposes to use mmWave in 5G network to
increase data rate.
What are the...
asked 8 hours ago -
Explain the idea behind using SEMIJOIN in distributed
query processing.
asked 8 hours ago -
why
is context important in selecting and applying guidelines and
principles for interface design?
illustrate your...
asked 8 hours ago -
In a certain board game, a player rolls two fair six-sided dice
until the player rolls...
asked 9 hours ago