2.
Bay City Company’s fixed budget performance report for July
follows. The $594,000 budgeted total expenses include $450,000
variable expenses and $144,000 fixed expenses. Actual expenses
include $134,000 fixed expenses.
Fixed Budget | Actual Results | Variances | ||||||||
Sales (in units) | 8,100 | 7,000 | ||||||||
Sales (in dollars) | $ | 648,000 | $ | 623,000 | $ | 25,000 | U | |||
Total expenses | 594,000 | 563,000 | 31,000 | F | ||||||
Income from operations | $ | 54,000 | $ | 60,000 | $ | 6,000 | U | |||
|
Prepare a flexible budget performance report that shows any
variances between budgeted results and actual results. List fixed
and variable expenses separately. (Indicate the effect of
each variance by selecting for favorable, unfavorable, and no
variance. Do not round your intermediate calculations. Round your
final answers to whole dollars.)
Fixed Budget // Actual Results // Variances // Fav./Unf
Sales 560,000 623,000 36,000 F
Variable expenses 388,889 429,000 (40,111) U
Contribution Margin 171,111 194,000 (22,889) F
Fixed Expenses 144,000 134,000 10,000 F
Income From Operarations 27,111 60,000 (32,889) F
2. Bay City Company’s fixed budget performance report for July follows. The $594,000 budgeted total expenses...
Bay City Company's fixed budget performance report for July follows. The $594,000 budgeted total expenses include $450,000 variable expenses and $144,000 fixed expenses. Actual expenses include $134,000 fixed expenses. Actual Results Fixed Budget Variences Sales (in units) 8.100 7,000 Sales (in dollars) Total expenses $ 623,000 559,000 $ 64,000 $648,000 594,000 $ 54,000 $25,000 U 35,000 F Income from operations $10,000 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed...
Bay City Company’s fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Actual Results Variances Sales (in units) 6,000 4,900 Sales (in dollars) $ 480,000 $ 436,100 $ 43,900 U Total expenses 440,000 410,000 30,000 F Income from operations $ 40,000 $ 26,100 $ 13,900 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual...
2 Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. 3 Fixed Budget Variances points Sales (in units) Sales (in dollars) Total expenses Income from operations 8,000 $ 640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 548,000 $ 59,200 $32,800 U 39,000 F $ 6,200 U eBook dot Hint Prepare a flexible budget performance report that shows any variances between...
Bay City Company’s fixed
budget performance report for July follows. The $367,000 budgeted
total expenses include $280,000 variable expenses and $87,000 fixed
expenses. Actual expenses include $77,000 fixed expenses. Fixed
Budget Actual Results Variances Sales (in units) 5,000 3,900 Sales
(in dollars) $ 400,000 $ 351,000 $ 49,000 U Total expenses 367,000
329,000 38,000 F Income from operations $ 33,000 $ 22,000 $ 11,000
U Prepare a flexible budget performance report that shows any
variances between budgeted results and actual...
Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Variances Fixed Budget Sales (in units) 6,000 Sales (in dollars) $480,000 Total expenses 440,000 Income from $ 40,000 operations Actual Results 4,900 $441,000 408,000 $ 33,000 $39,000 U 32,000 F $ 7,000U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and...
Bay City Company's fixed budget performance report for July follows. The $367,000 budgeted total expenses include $280,000 variable expenses and $87,000 fixed expenses. Actual expenses include $77,000 fixed expenses. Variances Sales (in units) Sales (in dollars Total expenses Fixed Budget 5,000 $400,000 367,000 $ 33,000 Actual Results 3,900 $347,100 330,000 $ 17,100 $52,900U 37,000F $15,900 U Income from operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,000 $640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 550,000 $ 57,200 $32,800 U 37,000 F $ 4,200 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Actual Fixed Budget Variances Results Sales (in units ) Sales (in dollars) Total expenses 8,000 $640,000 587,000 $ 53,000 6,900 $614,100 547,000 $25,900 U 40,000 F $67,100 $14,100 U Income from operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and...
Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include $153,000 fixed expenses. Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 7,000 $560,000 513,000 $ 47,000 Actual Results 5,900 $ 525, 100 476,000 $ 49,100 $34,900 U 37,000 F $ 2,100 u Prepare a flexible budget performance report that shows any variances between budgeted results and actual results....
Bay City Company’s fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Actual Results Variances Sales (in units) 6,000 4,900 Sales (in dollars) $ 480,000 $ 436,100 $ 43,900 U Total expenses 440,000 410,000 30,000 F Income from operations $ 40,000 $ 26,100 $ 13,900 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual...