Homework Answers
Solution 1:
Manager is having favorable variance for controllable fixed costs and contribution margin, therefore manager's overall performance is above the expectations.
Hence 2nd option is correct.
Solution 2:
Unfavorable contribution margin variance = $20,000
Favorable controllable fixed cost variance = $10,000
Overall unfavorable variance = $20,000 - $10,000 = $10,000
Hence manager's overall performance is below expectations.
Hence 2nd option is correct.
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Question 21 Danner Co. has three divisions which are operated as profit centers. Actual operating data...
Question 21
Danner Co. has three divisions which are operated as profit
centers. Actual operating data for the divisions listed
alphabetically are as follows.
Operating
Data
Women's
Shoes
Men's
Shoes
Children's Shoes
Contribution margin
$280,000
(3)
$220,000
Controllable fixed costs
130,000
(4)
(5)
Controllable margin
(1)
$90,000
96,000
Sales
800,000
480,000
(6)
Variable costs
(2)
330,000
250,000
Compute the missing amounts.
Operating Data
Women's Shoes
Men's Shoes
Children's Shoes
Contribution margin
$280,000
$
(3)
$220,000
Controllable fixed costs
130,000
(4)...
Req. 4,5, 6 A Data Table Actual vs. Budget Performance Report For the Month Ended August...
Req. 4,5, 6
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Horatio Inc. has three divisions which are operated as profit centers. Actual operating data for the...
Horatio Inc. has three divisions which are operated as profit
centers. Actual operating data for the divisions listed
alphabetically are as follows.
Compute the missing amounts.
Operating Data
Women’s Shoes
Men’s Shoes
Children’s Shoes
Contribution margin
$363,420
$
(3)
$242,280
Controllable fixed costs
134,600
(4)
(5)
Controllable margin
(1)
121,140
127,870
Sales
807,600
605,700
(6)
Variable costs
(2)
430,720
336,500
Prepare a responsibility report for the Women’s Shoes Division
assuming (1) the data are for the month ended June 30,...
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Question 21
Danner Co. has three divisions which are operated as profit
centers. Actual operating data for the divisions listed
alphabetically are as follows.
Operating
Data
Women's
Shoes
Men's
Shoes
Children's Shoes
Contribution margin
$280,000
(3)
$220,000
Controllable fixed costs
130,000
(4)
(5)
Controllable margin
(1)
$90,000
96,000
Sales
800,000
480,000
(6)
Variable costs
(2)
330,000
250,000
Compute the missing amounts.
Operating Data
Women's Shoes
Men's Shoes
Children's Shoes
Contribution margin
$280,000
$
(3)
$220,000
Controllable fixed costs
130,000
(4)...
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 4. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (U.) 5. Management...
Exercise 10-15 Horatio Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows: Compute the missing amounts. Women's Shoes $281,880 104,400 Men's Shoes Children's Shoes Operating Data Contribution margin Controllable fixed costs Controllable margin Sales Variable costs (3) $187,920 99,180 93,960 626,400 469,800 334,080 261,000 Prepare a responsibility report for the Women's Shoes Division assuming (1) the data are for the month ended June 30, 2017, and (2) all...
Problem 10-4A b c (Essay) Clarke Inc. operates the Patio Furniture Division as a profit center. Operating data for this division for the year ended December 31, 2020, are as shown below. Difference Budget from Budget $2,500,000 $50,000 Favorable 1,300,000 200,000 41,000 Favorable 3,000 Unfavorable Sales Cost of goods sold Variable Controllable fixed Selling and administrative Variable Controllable fixed Noncontrollable fixed costs 220,000 50,000 70,000 6,000 Unfavorable 2,000 Unfavorable 4,000 Unfavorable In addition, Clarke incurs $180,000 of indirect foxed costs...
Horatio Inc. has three divisions which are operated as profit
centers. Actual operating data for the divisions listed
alphabetically are as follows.
Compute the missing amounts.
Operating Data
Women’s Shoes
Men’s Shoes
Children’s Shoes
Contribution margin
$363,420
$
(3)
$242,280
Controllable fixed costs
134,600
(4)
(5)
Controllable margin
(1)
121,140
127,870
Sales
807,600
605,700
(6)
Variable costs
(2)
430,720
336,500
Prepare a responsibility report for the Women’s Shoes Division
assuming (1) the data are for the month ended June 30,...
For the year ending December 31, 2017, Flounder Company accumulates the following data for the Plastics Division which it operates as an investment center contribution margin-$704,000 budget, $718,900 actual controllable fixed costs $274,000 budget. $276,000 actual. Average operating assets for the year were $2,150,000. Prepare a responsibility report for the Plastics Division beginning with contribution margin (Round ROI to 1 decimal place, s. 15) FLOUNDER COMPANY Plastics Division Responsibility Report For the Year Ended December 31, 2017 : Difference Favorable/Unfavorable...
Exercise 10-15 (Video) Horatio Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. Compute the missing amounts. Operating Data Women's Shoes Men's Shoes Children's Shoes Contribution margin $337,500 162500 (3) $225,000 Controllable fixed costs 125,000 50000 (4) 106250 (5) Controllable margin 212500 (1) 112,500 118,750 Sales 750,000 562,500 537500 (6) Variable costs 412500 (2) 400,000 312,500 Prepare a responsibility report for the Women's Shoes Division assuming (1) the...
2. Point, Inc. produces men's shirts. The following budgeted and actual amounts are for 2018: Cost Direct materials Direct labor Fixed overhead Budgeted Amounts at 2.500 units Actual Amounts at 2.900 units $55,000 $65,000 $80,000 $83,000 $30,000 $34,500 Prepare a responsibility report for Point, Inc. for the year. POINT, INC. Manufacturing Performance Responsibility Report For the Year Ended December 31, 2018 Budget (2,900 units) Differences Direct Materials Direct Labor Fixed Overhead Total costs Actual $65,000 $83,000 $34,500 3. The service...
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