Question

10.8

Kanco Industries has a relevant range extending to 31,000 units each month. The following performance report provides information about Kanco's budget and actual performance for June. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Enter the variances as positive numbers. If the variance is 0, make sure to enter in a "0". Label each variance as favorable (F) or unfavorable (U). Round intermediary calculations to the nearest cent.) Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget Flexible Volume Actual variance Budget Variance 26,000 Master Budget 31,000 Output units 5,400 F D D O C 194.680 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income L $ 242,000 $ 174.200 N 19,500 N N N NNN O I N N N O L 23.500 Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget Flexible Volume Actual variance Budget Variance 26,000 Master Budget 31,000 Output units $ 5,400 F 242,000 $ 174,200 ? 194,680 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income 19,500 ? ? ? 23,500

Answer 1

Solution:

Kanco Industries
Flexible Budget Performance Report
For the month ended June 30
Particulars	Actual results	Flexible Budget Variance		Flexible Budget	Volume Variances		Master Budget
Output units	26000			26000			31000
Sales revenue	$242,000.00	$5,400.00	F	$236,600.00	$45,500.00	U	$282,100.00
Less: Variable expenses	$174,200.00	$10,920.00	U	$163,280.00	$31,400.00	F	$194,680.00
Contribution margin	$67,800.00	$5,520.00	U	$73,320.00	$14,100.00	U	$87,420.00
Less: Fixed expenses	$19,500.00	$4,000.00	F	$23,500.00	$0.00	None	$23,500.00
Operating income	$48,300.00	$1,520.00	U	$49,820.00	$14,100.00	U	$63,920.00

Excel 8 - Microsoft Excel X 90 = File Home Insert Page Layout Formulas Data Review View - 2 x Calculate Now Insert Function Math More & Trig Functions A a Define Name f Use in Formula Name Manager Create from Selection Defined Names Trace Precedents 5 Show Formulas Trace Dependents Error Checking Remove Arrows" Evaluate Formula Formula Auditing Watch Window Calculation Calculate Sheet Options Calculation AutoSum Recently Financial Logical Text Date & Lookup & - Used Time Reference Function Library G17 B C А D E F G H M Kanco Industries Flexible Budget Performance Report For the month ended June 30 Flexible Actual results Budget Flexible Budget Particulars Volume Variances Master Budget Output units 26000 =C6 31000 Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income 242000 174200 =C8-09 19500 =C10-C11 5400 F =C8-D8 =C9-F9U =19/16*F6 =F10-C10 U=F8-F9 =F11-C11 F =111 =F12-C12 U =F10-F11 =18-F8 JU =F8/F6*16 =19-F9 194680 =110-F10 U =18-19 =111-F11 None 23500 =112-F12 U =110-111 K 24 ™ Ready Sheet245 Sheet60 Sheet62 Sheet63_Sheet65 Sheet32 Sheet423 (4) Sheet38 D Sheet105 (4) Circular References BO! 100% - @o o g nie pone en bois 1 Answer Acounting - Ky Mirceste. Waowes - case com -+ 10:44 AM 11/25/2019