Homework Answers
| BEECH COMPANY Flexible Budget Performance Report For the Month Ended May 31 |
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| Flexible Budget | Actual Results | Variances | Favorable / UnFavorable | |
| Sales | $ 1,290,000 | $ 1,272,000 | $ 18,000 | U |
| Less: Variable Costs/ Expense | $ 826,000 | $ 790,500 | $ 35,500 | F |
| Contribution margin | $ 464,000 | $ 481,500 | $ 17,500 | F |
| Less: Fixed Costs/ Expense | $ 390,000 | $ 390,000 | $ 0 | No Variance |
| income from operations | $ 74,000 | $ 91,500 | $ 17,500 | F |
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Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 350 per unit $ 140 per unit $126,500 1,210 Actual $510,000 $ 204,000 $123,000 1,410 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Answer is not complete. LEWIS CO. Flexible Budget Performance Report Variances Fav./Unf....
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Please provide instructions on each variance and actual
results.
Brodrick Company expects to produce 21,700 units for the year ending December 31. A flexible budget for 21,700 units of production reflects sales of $607,600; variable costs of $65,100; and fixed costs of $143,000. QS 21-4 Flexible budget performance report LO P1 Assume that actual sales for the year are $705,400 (26,800 units), actual variable costs for the year are $113,400, and actual fixed costs for the year are $131,000. Prepare...
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