A company provides the following budgeted and actual results for the month of December: Budgeted Fixed...
A company provides the following budgeted and actual results for the month of December:
- Budgeted Fixed Selling Costs (based on a sales volume of 10,000 units): $101,589
- Actual Fixed Selling Costs (for an actual sales volume of 9,880 units): $92,889
What amount of fixed selling costs would be on the flexible budget for December?
Homework Answers
| Flexible budget | |||||||
| is based on actual volume .So variable cost per unit under flexible | |||||||
| budget is multiplied with actual volume , however fixed cost | |||||||
| remains same | |||||||
| so | 101,589 | will be the amount of fixed selling cost | |||||
| on Flexible Budget | |||||||
Add Answer to:
A company provides the following budgeted and actual results for
the month of December:
Budgeted Fixed...
answer all 37) The sales volume variance is the difference between the 37) Aj expected results...
answer all
37) The sales volume variance is the difference between the 37) Aj expected results in the flexible budget for the actual units sold and the static budget B) static budget and actual amounts due to differences in sales price C) flexible budget and static budget due to differences in fixed costs D) actual results and the expected results in the flexible budget for the actual units sold 38) 39) The static budget, at the beginning of the month,...
Rick Daley, Inc. manufactures a single product. The company budgeted to produce and sell 10,000 units...
Rick Daley, Inc. manufactures a single product. The company budgeted to produce and sell 10,000 units for 2016. However, the actual production and sales volume for the period was only 8000 units at $16 per unit. The net income static budget variance was $30,000 U and the Sales Volume variance for the period was $16,000 U Required: Complete the missing information in the following table. Enter your answers for each missing value in the appropriate cell. Static Budget Actual Results...
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income...
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2019 (1) (2) (3) Variances Actual Operating Income Master (Static) Budget 220U Units 780 1,000 $ 160,400U 100% $639,600 100% Sales $800,000 Variable costs 99.050F 350,950 55 450.000 56 $350,000 Contribution margin $288,650 45% 44% $ 61,350U 150.000 *** 160.650 Fixed costs 25 19 10.650U $128,000 20% $ Operating income $200,000 25% 72,000U *U denotes an unfavorable effect on operating income. *F...
Please provide instructions on each variance and actual results. Brodrick Company expects to produce 21,700 units...
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...
Please show excel equations. Thank you Simon Enterprises has the following information available: Actual Budget 15,000...
Please show excel equations. Thank you
Simon Enterprises has the following information available: Actual Budget 15,000 $20 $8 $145,000 Units Sold Selling Price Variable Costs Per Unit Fixed Costs 12,000 $21 $150.000 Required 1. Prepare the static budget using all of the budgeted amount 2. Prepare the actual income statement using all of the actual amounts 3. Prepare the flexible budget 4. Calculate the sales volume variances 5. Calculate the flexible budget variances 6. Comment on the results Actual Flex...
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...
EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For...
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Garbera Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted...
Garbera Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,100 tires at a variable cost of $77 per tire and total fixed costs of $53,000. The budgeted selling price was $107 per tire. Actual results in August 2017 were 2,900 tires manufactured and sold at a selling price of $109 per tire. The actual total variable costs were $240,700, and the actual total fixed costs were $49,500. Read the...
Requirement 1. What is the budgeted sales price per unit? The budgeted sales price per unit...
Requirement 1. What is the budgeted sales price per unit? The budgeted sales price per unit is $ 3.40. Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.80 . Requirement 3. What is the budgeted fixed cost for the period? The budgeted fixed cost for the period is $ 69,000 Requirements 4 and 5. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable...
Question 3 (2 points) When budgeted and actual results are not the same amount, there is...
Question 3 (2 points) When budgeted and actual results are not the same amount, there is a budget Question 13 (3 points) Stone Industries uses flexible budgets. At normal capacity of 8,000 units, budgeted manufacturing overhead is $64,000 variable and $180,000 fixed. If Stone had actual manufacturing overhead costs of $250,000 for 9,000 units produced, what is the difference between actual and budgeted costs? A) $2,000 favorable B) $8,000 favorable C) $2,000 unfavorable D) $6,000 unfavorable
answer all
37) The sales volume variance is the difference between the 37) Aj expected results in the flexible budget for the actual units sold and the static budget B) static budget and actual amounts due to differences in sales price C) flexible budget and static budget due to differences in fixed costs D) actual results and the expected results in the flexible budget for the actual units sold 38) 39) The static budget, at the beginning of the month,...
Rick Daley, Inc. manufactures a single product. The company budgeted to produce and sell 10,000 units for 2016. However, the actual production and sales volume for the period was only 8000 units at $16 per unit. The net income static budget variance was $30,000 U and the Sales Volume variance for the period was $16,000 U Required: Complete the missing information in the following table. Enter your answers for each missing value in the appropriate cell. Static Budget Actual Results...
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2019 (1) (2) (3) Variances Actual Operating Income Master (Static) Budget 220U Units 780 1,000 $ 160,400U 100% $639,600 100% Sales $800,000 Variable costs 99.050F 350,950 55 450.000 56 $350,000 Contribution margin $288,650 45% 44% $ 61,350U 150.000 *** 160.650 Fixed costs 25 19 10.650U $128,000 20% $ Operating income $200,000 25% 72,000U *U denotes an unfavorable effect on operating income. *F...
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...
Please show excel equations. Thank you
Simon Enterprises has the following information available: Actual Budget 15,000 $20 $8 $145,000 Units Sold Selling Price Variable Costs Per Unit Fixed Costs 12,000 $21 $150.000 Required 1. Prepare the static budget using all of the budgeted amount 2. Prepare the actual income statement using all of the actual amounts 3. Prepare the flexible budget 4. Calculate the sales volume variances 5. Calculate the flexible budget variances 6. Comment on the results Actual Flex...
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...
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...
Garbera Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,100 tires at a variable cost of $77 per tire and total fixed costs of $53,000. The budgeted selling price was $107 per tire. Actual results in August 2017 were 2,900 tires manufactured and sold at a selling price of $109 per tire. The actual total variable costs were $240,700, and the actual total fixed costs were $49,500. Read the...
Requirement 1. What is the budgeted sales price per unit? The budgeted sales price per unit is $ 3.40. Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.80 . Requirement 3. What is the budgeted fixed cost for the period? The budgeted fixed cost for the period is $ 69,000 Requirements 4 and 5. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable...
Question 3 (2 points) When budgeted and actual results are not the same amount, there is a budget Question 13 (3 points) Stone Industries uses flexible budgets. At normal capacity of 8,000 units, budgeted manufacturing overhead is $64,000 variable and $180,000 fixed. If Stone had actual manufacturing overhead costs of $250,000 for 9,000 units produced, what is the difference between actual and budgeted costs? A) $2,000 favorable B) $8,000 favorable C) $2,000 unfavorable D) $6,000 unfavorable
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