Question

Req. 4,5, 6
A Data Table Actual vs. Budget Performance Report For the Month Ended August 31 Master Budget Master Budget Actual Variance 53,000 Sales volume (number of cases sold) Sales revenue 155,800 $ 137 800 68.900 Less: Variable expenses Contribution margin $ 76 400 $ 68.200 8 200 S 68.900 67 000 Less: Fixed expenses Operating income 1.900 Done

Answer 1

Answer-4:

Actual Flexible Budget Variance Flexible Budget Volume Variance 55,000 $ $ Sales volume Sales revenue Less: Variable expense Contribution margin Less: Fixed expenses Operating income 155,800 79,400 76,400 68,200 8,200 12,800F 7,900U 4,900F 1,200U 3,700 F 55,000 143,000 $ 71,500 71,500 $ 67,000 4,500 $ 2000 F 5,200 F 2,600 U 2,600 F Master Master Budget Budget Variance 53,000 2000 F 137,800 $ 18,000 F 68,900 10,500 U 68,900 $ 7,500 F 67,000 1,200 U 1,900 $ 6,300 F $ $ $ $ 2,600 F $

Answer-5

FLEXIBLE BUDGET PEREFORMANCE REPORT Master Master Actual Budget Budget Variance Sales volume 55,000 53,000 $ 2,000F Sales revenue $ 155,800 $ 137,800 Less: Variable expense 79,400 68,900 10,500U Contribution margin $ 76,400 $ 68,900 7,500F Less: Fixed expenses 68,200 67,000 1,200U Operating income $ 8,200 $ 1,900 6,300F

Answer-6(a):

2,600 F

Answer-6(b):

7,900 U (i.e 10,500 - 2,600)

Answer-6(c):

12,800 F

Answer-6(d):

0 (Nil)