In September, Larson Inc. sold 48,000 units of its only product for $372,000, and incurred a total cost of $345,000, of...
In September, Larson Inc. sold 48,000 units of its only product for $372,000, and incurred a total cost of $345,000, of which $37,000 was fixed costs. The flexible budget for September showed total sales of $420,000. Among variances of the period were: total variable cost flexible-budget variance, $8,000U; total flexible-budget variance, $72,000U; and, sales volume variance, in terms of contribution margin, $39,000U.
The sales volume variance, in terms of operating income, for
September (to the nearest dollar) was:
Homework Answers
| Actual | Flexible budget variance | Flexible budget | activity variance | Planning budget | |
| Sales | 372000 | 48000 U | 420000 | ||
| Variable cost | 308000 | 8000 U | 300000 | ||
| Contribution margin | 64000 | 56000 U | 120000 | 39000 U | 159000 |
| Fixed cost | 37000 | 16000 U | 21000 | 0 None | 21000 |
| Operating income | 27000 | 72000 U | 99000 | 39000 U | 138000 |
The sales volume variance, in terms of operating income, for September (to the nearest dollar) was: $39000 U
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In September, Larson Inc. sold 48,000 units of its only product for $372,000, and incurred a total cost of $345,000, of...
In September, Larson Inc. sold 41,000 units of its only product for $350,000, and incurred a...
In September, Larson Inc. sold 41,000 units of its only product for $350,000, and incurred a total cost of $325,000, of which $35,000 was fixed costs. The flexible budget for September showed total sales of $400,000. Among variances of the period were: total variable cost flexible-budget variance, $8,900U; total flexible-budget variance, $83,00OU; and, sales volume variance, in terms of contribution margin, $37,000U The sales volume variance, in terms of operating income, for September (to the nearest dollar) was: Multiple Choice...
In September, Larson Inc. sold 50,000 units of its only product for $416,000, and incurred a total cost of $385,000,...
In September, Larson Inc. sold 50,000 units of its only product for $416,000, and incurred a total cost of $385,000, of which $41,000 was fixed costs. The flexible budget for September showed total sales of $460,000. Among variances of the period were total variable cost flexible-budget variance, 59,000U; total flexible-budget variance, $80,000U; and, sales volume variance, in terms of contribution margin, $43.000U. The sales volume variance, in terms of operating income, for September (to the nearest dollar) was: 2 00:50:15...
please answer noth questions and circle correct answer In September, Larson Inc. sold 40,000 units of its only product for $240,000 and incurred a total cost of $225,000, of which $25,000 is fixe...
please answer noth questions and circle correct answer
In September, Larson Inc. sold 40,000 units of its only product for $240,000 and incurred a total cost of $225,000, of which $25,000 is fixed costs. The flexible budget for September showed total sales of $300,000. Among variances of the period were: total variable cost flexible-budget variance, $8,000U; total flexible-budget variance, $63,000U and, sales volume variance, in terms of contribution margin, $27,00oU. The total number of budgeted units reflected in the master...
In August, Deighton Inc. sold 40,000 units of its only product for $262,000, and incurred a...
In August, Deighton Inc. sold 40,000 units of its only product for $262,000, and incurred a total cost of $245,000, of which $27,000 was fixed costs. The flexible budget for August showed total sales of $320,000. Among variances of the period were: total variable cost flexible-budget variance, $6,000U; total flexible-budget variance, $67,000U; and, sales volume variance, in terms of contribution margin, $29,000U. The budgeted fixed cost for August, to the nearest dollar, was:
The total number of budgeted units reflected in the master budget for September was: a) 50000...
The total number of budgeted units reflected in the master
budget for September was:
a) 50000 units
b)36000 units
c) 40000 units
d) 45000 units
e) 48000 units
Which equation correctly calculates the total weighted average
equivalent units of production?
a) completed and transferred out units + ending WIP equivalent
units
b) ending WIP equivalent units - completed and transferred out
units
c) completed and transferred out units + Beginning WIP
equivalent units
d) beginning WIP equivalent units - Completed...
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...
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...
Assume that in October 2019 the Schmidt Machinery Company (Exhibit 14.1) manufactured and sold 950 units...
Assume that in October 2019 the Schmidt Machinery Company
(Exhibit 14.1) manufactured and sold 950 units for $854 each.
During this month, the company incurred $380,000 total variable
costs and $181,900 total fixed costs. The master (static) budget
data for the month are as given in Exhibit 14.1.
Required:
1. Prepare a flexible budget for the production and sale of 950
units.
2. Compute for October 2019:
a. The sales volume variance, in terms of operating income.
Indicate whether this...
As part of its comprehensive planning and control system, Mopar Company uses a master budget and...
As part of its comprehensive planning and control system, Mopar
Company uses a master budget and subsequent variance analysis. You
are given the following information that pertains to the company’s
only product, XL-10, for the month of December.
Required:
1. Using text Exhibit 14.4 as a guide, complete the missing
parts of the following profit report for December.
2. Based on your completed profit report, determine the dollar
amount, and label (Favorable or Unfavorable) each of the following
variances for...
Required information [The following information applies to the questions displayed below.] As part of its comprehensive...
Required information [The following information applies to the questions displayed below.] As part of its comprehensive planning and control system, Mopar Company uses a master budget and subsequent variance analysis. You are given the following information that pertains to the company's only product, XL-10, for the month of December. Required: 1. Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December. 2. Based on your completed profit report, determine the dollar amount,...
In September, Larson Inc. sold 41,000 units of its only product for $350,000, and incurred a total cost of $325,000, of which $35,000 was fixed costs. The flexible budget for September showed total sales of $400,000. Among variances of the period were: total variable cost flexible-budget variance, $8,900U; total flexible-budget variance, $83,00OU; and, sales volume variance, in terms of contribution margin, $37,000U The sales volume variance, in terms of operating income, for September (to the nearest dollar) was: Multiple Choice...
In September, Larson Inc. sold 50,000 units of its only product for $416,000, and incurred a total cost of $385,000, of which $41,000 was fixed costs. The flexible budget for September showed total sales of $460,000. Among variances of the period were total variable cost flexible-budget variance, 59,000U; total flexible-budget variance, $80,000U; and, sales volume variance, in terms of contribution margin, $43.000U. The sales volume variance, in terms of operating income, for September (to the nearest dollar) was: 2 00:50:15...
please answer noth questions and circle correct answer
In September, Larson Inc. sold 40,000 units of its only product for $240,000 and incurred a total cost of $225,000, of which $25,000 is fixed costs. The flexible budget for September showed total sales of $300,000. Among variances of the period were: total variable cost flexible-budget variance, $8,000U; total flexible-budget variance, $63,000U and, sales volume variance, in terms of contribution margin, $27,00oU. The total number of budgeted units reflected in the master...
The total number of budgeted units reflected in the master
budget for September was:
a) 50000 units
b)36000 units
c) 40000 units
d) 45000 units
e) 48000 units
Which equation correctly calculates the total weighted average
equivalent units of production?
a) completed and transferred out units + ending WIP equivalent
units
b) ending WIP equivalent units - completed and transferred out
units
c) completed and transferred out units + Beginning WIP
equivalent units
d) beginning WIP equivalent units - Completed...
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...
Assume that in October 2019 the Schmidt Machinery Company
(Exhibit 14.1) manufactured and sold 950 units for $854 each.
During this month, the company incurred $380,000 total variable
costs and $181,900 total fixed costs. The master (static) budget
data for the month are as given in Exhibit 14.1.
Required:
1. Prepare a flexible budget for the production and sale of 950
units.
2. Compute for October 2019:
a. The sales volume variance, in terms of operating income.
Indicate whether this...
As part of its comprehensive planning and control system, Mopar
Company uses a master budget and subsequent variance analysis. You
are given the following information that pertains to the company’s
only product, XL-10, for the month of December.
Required:
1. Using text Exhibit 14.4 as a guide, complete the missing
parts of the following profit report for December.
2. Based on your completed profit report, determine the dollar
amount, and label (Favorable or Unfavorable) each of the following
variances for...
Required information [The following information applies to the questions displayed below.] As part of its comprehensive planning and control system, Mopar Company uses a master budget and subsequent variance analysis. You are given the following information that pertains to the company's only product, XL-10, for the month of December. Required: 1. Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December. 2. Based on your completed profit report, determine the dollar amount,...
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