Required information Use the following information for the Quick Study below. [The following information applies to...
Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.] Brodrick Company expects to produce 21,600 units for the year ending December 31. A flexible budget for 21,600 units of production reflects sales of $583,200; variable costs of $64,800; and fixed costs of $144,000. QS 23-4 Flexible budget performance report LO P1 Assume that actual sales for the year are $703,600 (27,800 units), actual variable costs for the year are $113,200, and actual fixed costs for the year are $136,000. Prepare a flexible budget performance report for the year.
Homework Answers
| Flexible budget performance report | |||||
| Flexible budget | Actual results | variance | Favorable/unfavorable | ||
| sale | 750600 | 703600 | 47000 | unfavorable | |
| variable expenses | 83400 | 113200 | 29800 | unfavorable | |
| contribution margin | 667200 | 590400 | 17200 | unfavorable | |
| fixed expenses | 144000 | 136000 | 8000 | Favorable | |
| income from operation | 523200 | 454400 | 9200 | unfavorable | |
| Working | |||||
| sales (583200/21600)*27800 = 750600 | |||||
| variable expenses= 64800/21600*27800 = 83400 | |||||
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