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flexible budget variance for operating income is the difference between the actual results and flexible budget at actual activity =50000-64000 = -14000 unfavorable
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the flexible budget variance for operation income is
Favorable 13) /The following data are for Point...
Trial Test for BA340 Final Exam 1) The following data are for Sandy Corporation: Flexible Budget...
Trial Test for BA340 Final Exam 1) The following data are for Sandy Corporation: Flexible Budget for Actual Sales Activity 18,000 $360,000 Static Budget Actual 18,000 $360,000 234,000 $126,000 Units 16,000 $320,000 192,000 Sales 216,000 $144,000 Variable costs Contribution margin $128,000 Fixed costs 80,000 76,000 $50,000 80,000 Operating income $48,000 $64,000 The static budget variance for operating income is A) $2,000 Favorable B) $2,000 Unfavorable C) $16,000 Favorable D) $16,000 Unfavorable
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable...
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the variable cost variance and is it favorable or unfavorable? There is no variance $48000 unfavorable $48,000 favorable O neither favorable or unfavorable
Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable...
Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable or unfavorable. Also, fill in the number of units used to calculate the flexible budget amounts. There are 16 boxes to fill in. Units 10,000 9,000 ? Actual results Original (static) budget Flexible budget Flexible budget variances Favorable or unfavorable Direct materials 66,500 58,500 ? ? ? Direct labor 80,100 67,500 ? ? ? Variance overhead 9,700 9,000 ? ? ? Fixed overhead 224,500...
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable...
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the sales variance an is it favorable or unfavorable? O neither favorable or unfavorable $12,000 favorable There is no variance $12000 unfavorable
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable...
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the fixed cost variance and is it favorable or unfavorable? $10000 unfavorable There is no variance $10,000 favorable O neither favorable or unfavorable
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (2) (3) Flexible-Budget Flexible Variances Budget (1) (4) Sales Volume Variances (5) Master (Static) Budget Actual Units 780 0 780 1,000 Sales Variable costs Contribution margin Fixed costs Operating income $639,600 350,950 $288,650 160,650 $128,000 $15,600F 50F $15,650F 10,650U $ 5,000F $624,000 351,000 $273.000 150,000 $123,000 2200 $176,0000 99,000F $ 77,0000 $800,000 450,000 $350,000 150,000 $200,000 $77,000U Analysis of Total Operating-Income Variance...
Multiple Choice $480 favorable. $1,000 unfavorable. $1,000 favorable. $1,520 unfavorable. $2,000 favorable. Pokeman Bunch Inc., manufactures...
Multiple Choice
$480 favorable.
$1,000 unfavorable.
$1,000 favorable.
$1,520 unfavorable.
$2,000 favorable.
Pokeman Bunch Inc., manufactures Poke Monster figures and has the following data from its operation for the year just completed. Flexible Budget A Actual 1,460 $97,000 Master Budget 1,160 $19, 2007 $55,680 Units Sales (dollars) Variable cost Contribution Margin Fixed cost Operating income $1,000 $5,040 $14,000 The total operating-income variance, to the nearest dollar, is:
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (1) (2) Flexible-Budget Variances (3) Flexible Budget Sales Volume Variances (5) Master (Static) Budget Actual Units 1,000 Sales Variable costs 7800 780 2200 $639,600 $15,600F $624,000 $176,000U 350,95050F 351,000 99,000F $288,650 $ 77,0000 160,650 10,650U 150,000* 0 $128,000 $ 5,000F $123,000 $ 77,000U Contribution margin Fixed costs $15,650F $273,000 $800,000 450,000 $350,000 150,000 $200,000 Operating income Analysis of Total Operating Income Variance...
#3 only. 14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance;...
#3 only.
14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual 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 Required 1. What was the total operating income variance for July, rounded to the...
Complete the following Flexible Budget Performance Report. Interpret your results. Remember on the variances to put...
Complete the following Flexible Budget Performance Report. Interpret your results. Remember on the variances to put Favorable (F) or Unfavorable (U) Flexible i e Flexible Volume Master Actual Budget B. Budget Variance Budget Variance Sales 57,500 57,500 53,000 Volume Sales Revenue $206,500 ($3.50 per unit) Less: Variable Expenses $83,200 ($1.40 per unit) Contribution $123,300 Margin Less: Fixed $65,500 $64,000 Expenses Operating $57,800 Income
Trial Test for BA340 Final Exam 1) The following data are for Sandy Corporation: Flexible Budget for Actual Sales Activity 18,000 $360,000 Static Budget Actual 18,000 $360,000 234,000 $126,000 Units 16,000 $320,000 192,000 Sales 216,000 $144,000 Variable costs Contribution margin $128,000 Fixed costs 80,000 76,000 $50,000 80,000 Operating income $48,000 $64,000 The static budget variance for operating income is A) $2,000 Favorable B) $2,000 Unfavorable C) $16,000 Favorable D) $16,000 Unfavorable
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the variable cost variance and is it favorable or unfavorable? There is no variance $48000 unfavorable $48,000 favorable O neither favorable or unfavorable
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the sales variance an is it favorable or unfavorable? O neither favorable or unfavorable $12,000 favorable There is no variance $12000 unfavorable
Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the fixed cost variance and is it favorable or unfavorable? $10000 unfavorable There is no variance $10,000 favorable O neither favorable or unfavorable
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (2) (3) Flexible-Budget Flexible Variances Budget (1) (4) Sales Volume Variances (5) Master (Static) Budget Actual Units 780 0 780 1,000 Sales Variable costs Contribution margin Fixed costs Operating income $639,600 350,950 $288,650 160,650 $128,000 $15,600F 50F $15,650F 10,650U $ 5,000F $624,000 351,000 $273.000 150,000 $123,000 2200 $176,0000 99,000F $ 77,0000 $800,000 450,000 $350,000 150,000 $200,000 $77,000U Analysis of Total Operating-Income Variance...
Multiple Choice
$480 favorable.
$1,000 unfavorable.
$1,000 favorable.
$1,520 unfavorable.
$2,000 favorable.
Pokeman Bunch Inc., manufactures Poke Monster figures and has the following data from its operation for the year just completed. Flexible Budget A Actual 1,460 $97,000 Master Budget 1,160 $19, 2007 $55,680 Units Sales (dollars) Variable cost Contribution Margin Fixed cost Operating income $1,000 $5,040 $14,000 The total operating-income variance, to the nearest dollar, is:
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (1) (2) Flexible-Budget Variances (3) Flexible Budget Sales Volume Variances (5) Master (Static) Budget Actual Units 1,000 Sales Variable costs 7800 780 2200 $639,600 $15,600F $624,000 $176,000U 350,95050F 351,000 99,000F $288,650 $ 77,0000 160,650 10,650U 150,000* 0 $128,000 $ 5,000F $123,000 $ 77,000U Contribution margin Fixed costs $15,650F $273,000 $800,000 450,000 $350,000 150,000 $200,000 Operating income Analysis of Total Operating Income Variance...
#3 only.
14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual 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 Required 1. What was the total operating income variance for July, rounded to the...
Complete the following Flexible Budget Performance Report. Interpret your results. Remember on the variances to put Favorable (F) or Unfavorable (U) Flexible i e Flexible Volume Master Actual Budget B. Budget Variance Budget Variance Sales 57,500 57,500 53,000 Volume Sales Revenue $206,500 ($3.50 per unit) Less: Variable Expenses $83,200 ($1.40 per unit) Contribution $123,300 Margin Less: Fixed $65,500 $64,000 Expenses Operating $57,800 Income
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