Please show excel equations. Thank you
Homework Answers
| Actual Results | Flexible Budget Variance | Flexible Budget | Sales Volume Variance | Static Budget | ||||
| Units | 12,000 | 12,000 | 15,000 | |||||
| Sales Revenue | $ 2,52,000 | $ 12,000 | F | $ 2,40,000 | $ 60,000 | U | $ 3,00,000 | |
| Less: | Variable Expenses | $ 84,000 | $ 12,000 | F | $ 96,000 | $ 24,000 | F | $ 1,20,000 |
| Contribution margin | $ 1,68,000 | $ 24,000 | F | $ 1,44,000 | $ 36,000 | U | $ 1,80,000 | |
| Less: | Fixed Expenses | $ 1,50,000 | $ 5,000 | U | $ 1,45,000 | $ - | None | $ 1,45,000 |
| Operating Income / (loss) | $ 18,000 | $ 19,000 | F | $ -1,000 | $ 36,000 | U | $ 35,000 | |
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Please show excel equations. Thank you
Simon Enterprises has the following information available: Actual Budget 15,000...
please create an excel spreadsheet with calculations Problem 2: Flexible Budget and Variances Smith Company had...
please create an excel spreadsheet with calculations
Problem 2: Flexible Budget and Variances Smith Company had the following information available: Units Selling Price Variable Cost Per Unit Fixed Costs Budget 1,000 $60 $27 $24,000 Actual 1,100 $56 $28 $25,000 Required Prepare the static budget, actual income statement and flexible budget income statement. Calculate the sales volume variances and the flexible budget variances for each item on the income statement. Make sure your variances include favorable or unfavorable Write a brief...
Garbera Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted...
Garbera Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,100 tires at a variable cost of $77 per tire and total fixed costs of $53,000. The budgeted selling price was $107 per tire. Actual results in August 2017 were 2,900 tires manufactured and sold at a selling price of $109 per tire. The actual total variable costs were $240,700, and the actual total fixed costs were $49,500. Read the...
Melton Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted...
Melton Enterprises manufactures tires for the Formula 1 motor
racing circuit. For August 2017, it budgeted to manufacture and
sell 3,300 tires at a variable cost of $75 per tire and total fixed
costs of $54,500. The budgeted selling price was $111 per tire.
Actual results in August 2017 were 3,200 tires manufactured and
sold at a selling price of $113 per tire. The actual total variable
costs were $265,600. And the actual total fixed costs were
$51,000.
Requirement 1....
Requirement 2. Comment on the results in requirement 1. Please help with choosing the comments based...
Requirement 2. Comment on the results in requirement 1. Please
help with choosing the comments based on the answer above
The total static-budget variance in operating income is $
(number)
There is a(n) (Favorable/Unfavorable)
total flexible-budget
variance and a(n) (Favorable/Unfavorable)
sales-volume variance. The sales-volume variance arises solely
because actual units
manufactured and sold were (less/more)
than the budgeted 3,700 units. The flexible-budget variance in
operating income is due
primarily to the (increase/decrease)
in unit variable costs.
Anderson Enterprises manufactures tires...
Actual Results Flexible Budget Variance Flexible Budget Sales Volume Static Variance Budget Units 12,000 12,000 15,000...
Actual Results Flexible Budget Variance Flexible Budget Sales Volume Static Variance Budget Units 12,000 12,000 15,000 S Sales Revenue $ 2,52,000 12,000 | F | $ 2,40,000 60,000 $3,00,000 Less: Variable Expenses 84,000 12,000F 96,000 24,000 F S 1,20,000 Contribution margin $1,68,000 24,000 $1,44,000 36,000 U $1,80,000 S Less: Fixed Expenses $ 1,50,000 5,000 $1,45,000 None S 1,45,000 Operating Income / (loss) $ 18,000 19,000 FS -1,000 36,000 U S 35,000 Look at the two outside columns - how was...
Master Master Budget Variance Actual 60,500 Budget 57,000 Sales volume (number of cases sold) Sales revenue...
Master Master Budget Variance Actual 60,500 Budget 57,000 Sales volume (number of cases sold) Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses $ 193,700 $ 71,200 176,700 62,700 $ 122,500 $ 73,200 114,000 72,000 $ 49,300 $ 42,000 Operating income The budgeted sales price per unit is $ 3.10 Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.10. Requirement 3. What is the budgeted fixed cost for the...
Connolly Enterprises manufactures tires for the Formula 1 motor racing circuit For August 2017, it budgeted...
Connolly Enterprises manufactures tires for the Formula 1 motor racing circuit For August 2017, it budgeted to manufacture and sell 2.900 tires at a variable cost of $75 per tire and total fixed costs of $53,000. The budgeted selling price was $116 per tire. Actual results in August 2017 were 2,600 tires manufactured and sold at a selling price of $117 per tire. The actual total variable costs were $215,800, and the actual total fixed costs were $50,000 Read the...
The Edinburg Company produces engine parts for car manufacturers. A new accountant intern at Edinburg has...
The Edinburg Company produces engine parts for car manufacturers. A new accountant intern at Edinburg has accidentally deleted the calculations on the company's variance analysis calculations for the year ended December 31, 2017. The following table is what remains of the data. (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) Begin with the flexible budget columns,...
Performance Report, June 2017 Actual Static Results Budget Units (pounds) 390,000 380,000...
Performance Report, June 2017 Actual Static Results Budget Units (pounds) 390,000 380,000 Revenues $2,203,500 $2,166,000 Variable manufacturing costs 1,423,500 1,368,000 Contribution margin $780,000 $798,000 SteveSteve AdlerAdler, the business manager for ice-cream products, is pleased that more pounds of ice cream were sold than budgeted and that revenues were up.Unfortunately, variable manufacturing costs went up, too. The bottom line is that contribution margin declined by $ 18 comma 000$18,000, which is less thanless than 11% of the budgeted revenues of $...
Zenefit Corporation sold laser pointers for $11 each in 2017. Its budgeted selling price was $12...
Zenefit Corporation sold laser pointers for $11 each in 2017. Its budgeted selling price was $12 per unit. Other information related to its performance is given below: (Click the icon to view the information.) (Click the icon to view the partially completed performance report.) Calculate Zenefit's flexible-budget and sales-volume variances for (a) revenues, (b) variable costs, (c) fixed costs, and (d) operating income. Begin with the flexible-budget variance column, then the sales-volume variance column. Label each variance as favorable (F)...
please create an excel spreadsheet with calculations
Problem 2: Flexible Budget and Variances Smith Company had the following information available: Units Selling Price Variable Cost Per Unit Fixed Costs Budget 1,000 $60 $27 $24,000 Actual 1,100 $56 $28 $25,000 Required Prepare the static budget, actual income statement and flexible budget income statement. Calculate the sales volume variances and the flexible budget variances for each item on the income statement. Make sure your variances include favorable or unfavorable Write a brief...
Garbera Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,100 tires at a variable cost of $77 per tire and total fixed costs of $53,000. The budgeted selling price was $107 per tire. Actual results in August 2017 were 2,900 tires manufactured and sold at a selling price of $109 per tire. The actual total variable costs were $240,700, and the actual total fixed costs were $49,500. Read the...
Melton Enterprises manufactures tires for the Formula 1 motor
racing circuit. For August 2017, it budgeted to manufacture and
sell 3,300 tires at a variable cost of $75 per tire and total fixed
costs of $54,500. The budgeted selling price was $111 per tire.
Actual results in August 2017 were 3,200 tires manufactured and
sold at a selling price of $113 per tire. The actual total variable
costs were $265,600. And the actual total fixed costs were
$51,000.
Requirement 1....
Requirement 2. Comment on the results in requirement 1. Please
help with choosing the comments based on the answer above
The total static-budget variance in operating income is $
(number)
There is a(n) (Favorable/Unfavorable)
total flexible-budget
variance and a(n) (Favorable/Unfavorable)
sales-volume variance. The sales-volume variance arises solely
because actual units
manufactured and sold were (less/more)
than the budgeted 3,700 units. The flexible-budget variance in
operating income is due
primarily to the (increase/decrease)
in unit variable costs.
Anderson Enterprises manufactures tires...
Actual Results Flexible Budget Variance Flexible Budget Sales Volume Static Variance Budget Units 12,000 12,000 15,000 S Sales Revenue $ 2,52,000 12,000 | F | $ 2,40,000 60,000 $3,00,000 Less: Variable Expenses 84,000 12,000F 96,000 24,000 F S 1,20,000 Contribution margin $1,68,000 24,000 $1,44,000 36,000 U $1,80,000 S Less: Fixed Expenses $ 1,50,000 5,000 $1,45,000 None S 1,45,000 Operating Income / (loss) $ 18,000 19,000 FS -1,000 36,000 U S 35,000 Look at the two outside columns - how was...
Master Master Budget Variance Actual 60,500 Budget 57,000 Sales volume (number of cases sold) Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses $ 193,700 $ 71,200 176,700 62,700 $ 122,500 $ 73,200 114,000 72,000 $ 49,300 $ 42,000 Operating income The budgeted sales price per unit is $ 3.10 Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.10. Requirement 3. What is the budgeted fixed cost for the...
Connolly Enterprises manufactures tires for the Formula 1 motor racing circuit For August 2017, it budgeted to manufacture and sell 2.900 tires at a variable cost of $75 per tire and total fixed costs of $53,000. The budgeted selling price was $116 per tire. Actual results in August 2017 were 2,600 tires manufactured and sold at a selling price of $117 per tire. The actual total variable costs were $215,800, and the actual total fixed costs were $50,000 Read the...
The Edinburg Company produces engine parts for car manufacturers. A new accountant intern at Edinburg has accidentally deleted the calculations on the company's variance analysis calculations for the year ended December 31, 2017. The following table is what remains of the data. (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) Begin with the flexible budget columns,...
Zenefit Corporation sold laser pointers for $11 each in 2017. Its budgeted selling price was $12 per unit. Other information related to its performance is given below: (Click the icon to view the information.) (Click the icon to view the partially completed performance report.) Calculate Zenefit's flexible-budget and sales-volume variances for (a) revenues, (b) variable costs, (c) fixed costs, and (d) operating income. Begin with the flexible-budget variance column, then the sales-volume variance column. Label each variance as favorable (F)...
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