Homework Answers
Answer : Actual revenue is higher than budgeted revenue.
If Actual revenue is higher than budgeted revenue then it is Favorable.
If Actual income is higher is higher than budgeted income then it is Favorable.
If Actual cost is lower than budgeted cost then it is Favorable
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Identify the situation below that will result in a favorable variance. Multiple Choice Actual revenue is...
Claremont Company specializes in seling refurbished copiers. During the month, the company sold 195 coplers at...
Claremont Company specializes in seling refurbished copiers. During the month, the company sold 195 coplers at an average price of $3,300 each. The budget for the month was to sell 190 coplers at an average price of $3,500. The expected total sales for 195 coplers were: Multiple Choice Ο Ο $643,500. Ο Ο $682,500. Ο Ο $627000. Ο $665,000. Ο Ο Sssa000. Regarding overhead costs, as volume increases: Multiple Choice C) Unit fixed cost increases, unit variable cost decreases Ο...
A flexible budget performance report compares the differences between: Help Save & Exit Actual performance and...
A flexible budget performance report compares the differences between: Help Save & Exit Actual performance and budgeted performance based on actual sales volume. Actual performance over several periods Budgeted performance over several periods Actual performance and budgeted performance based on budgeted sales volume Actual performance and standard costs at the budgeted sales volume We were unable to transcribe this image$29,000 unfavorable $29,000 favorable $22,500 unfavorable. $52.500 favorable. $52,500 unfavorable Identify the situation below that will result in a favorable variance...
please see attaches dor question and multiple choice answers below: Winston Co. had two products code...
please see attaches dor question and multiple choice answers
below:
Winston Co. had two products code named X and Y. The firm had the following budget for August Sales Variable Costs Contribution Margin Fixed costs Operating Income Selling Price per unit Product X $286,000 189,800 $ 96,200 50,000 $ 46,200 $ 110.00 Product Y $520,000 218,400 $301,600 108,000 $193,600 $ 50.00 Total $806,000 408,200 $397,800 158,000 $239,800 On September 1, the following actual operating results for August were reported: Sales...
Mastery Problem: Manufacturing Cost Variance (Actual Costs Compared to Standard Costs) Manufacturing cost variances may come...
Mastery Problem: Manufacturing Cost Variance (Actual Costs Compared to Standard Costs) Manufacturing cost variances may come from material costs that are higher or lower than expected, material usage that is not what was expected, higher or lower labor costs than expected, or more or less time spent to produce an item than expected. Overhead cost and volume variances are another cause for costs to be higher or lower than what was expected. The total manufacturing variance can be broken down...
1) 2) 3) 4) 5) A favorable cost variance occurs when Oa. actual costs are the...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
A favorable variance for a cost means that when compared to the budget, the actual cost...
A favorable variance for a cost means that when compared to the budget, the actual cost is ________ than the budgeted cost.
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:
Which of the following does not result in a favorable direct materials price variance? 0 A....
Which of the following does not result in a favorable direct materials price variance? 0 A. The purchasing manager changed to a lower-price supplier. O B. The price of direct materials decreased as a result of Industry oversupply ° C. Budgeted purchase prices of direct materials were set too low without careful analysis of market conditions. 0 D. The purchasing manager negotiated the direct materials prices more skillfully than was planned for the budget O E. The purchasing manager ordered...
“Uncertainty” may be defined as: The possibility that an actual amount will be the same as...
“Uncertainty” may be defined as: The possibility that an actual amount will be the same as an expected amount The possibility that a budgeted amount will be higher than the estimated amount The possibility that a budgeted amount will be lower than the estimated amount The possibility that an actual amount will be either higher or lower than the expected amount Martha Manufacturing produces a single product that sells for $80. Variable cost per unit equal $32. The company expects...
Multiple Choice $11,000 unfavorable. $141,046 favorable. $143,286 favorable. $163,846 favorable. $163,846 unfavorable. Bluecap Co. uses a...
Multiple Choice
$11,000 unfavorable.
$141,046 favorable.
$143,286 favorable.
$163,846 favorable.
$163,846 unfavorable.
Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2019: Denominator volume-number of units Denominator volume-percent of capacity Denominator volume-standard direct labor hours (DLHS) Budgeted variable factory overhead cost at denominator volume Total standard factory overhead rate per DLH 7,000 70% 42,000 $102,200 $ 15.10 During 2019, Bluecap worked 53,000 DLHs and manufactured 9,300 units. The actual factory...
Claremont Company specializes in seling refurbished copiers. During the month, the company sold 195 coplers at an average price of $3,300 each. The budget for the month was to sell 190 coplers at an average price of $3,500. The expected total sales for 195 coplers were: Multiple Choice Ο Ο $643,500. Ο Ο $682,500. Ο Ο $627000. Ο $665,000. Ο Ο Sssa000. Regarding overhead costs, as volume increases: Multiple Choice C) Unit fixed cost increases, unit variable cost decreases Ο...
A flexible budget performance report compares the differences between: Help Save & Exit Actual performance and budgeted performance based on actual sales volume. Actual performance over several periods Budgeted performance over several periods Actual performance and budgeted performance based on budgeted sales volume Actual performance and standard costs at the budgeted sales volume We were unable to transcribe this image$29,000 unfavorable $29,000 favorable $22,500 unfavorable. $52.500 favorable. $52,500 unfavorable Identify the situation below that will result in a favorable variance...
please see attaches dor question and multiple choice answers
below:
Winston Co. had two products code named X and Y. The firm had the following budget for August Sales Variable Costs Contribution Margin Fixed costs Operating Income Selling Price per unit Product X $286,000 189,800 $ 96,200 50,000 $ 46,200 $ 110.00 Product Y $520,000 218,400 $301,600 108,000 $193,600 $ 50.00 Total $806,000 408,200 $397,800 158,000 $239,800 On September 1, the following actual operating results for August were reported: Sales...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
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:
Which of the following does not result in a favorable direct materials price variance? 0 A. The purchasing manager changed to a lower-price supplier. O B. The price of direct materials decreased as a result of Industry oversupply ° C. Budgeted purchase prices of direct materials were set too low without careful analysis of market conditions. 0 D. The purchasing manager negotiated the direct materials prices more skillfully than was planned for the budget O E. The purchasing manager ordered...
Multiple Choice
$11,000 unfavorable.
$141,046 favorable.
$143,286 favorable.
$163,846 favorable.
$163,846 unfavorable.
Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2019: Denominator volume-number of units Denominator volume-percent of capacity Denominator volume-standard direct labor hours (DLHS) Budgeted variable factory overhead cost at denominator volume Total standard factory overhead rate per DLH 7,000 70% 42,000 $102,200 $ 15.10 During 2019, Bluecap worked 53,000 DLHs and manufactured 9,300 units. The actual factory...
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