Homework Answers
Solution:
| Business Solutions | ||||
| Flexible Budget Performance report | ||||
| For the quarter ended June 30 | ||||
| Particulars | Flexible Budget | Actual results | Variance | Fav. / Unfav. |
| Desk Sales | $192,960.00 | $191,520.00 | $1,440.00 | Unfav. |
| Chair Sales | $33,000.00 | $33,900.00 | $900.00 | Fav. |
| Variable expenses | $137,520.00 | $137,970.00 | $450.00 | Unfav. |
| Fixed expenses | $36,000.00 | $37,100.00 | $1,100.00 | Unfav. |
| Income from operations | $52,440.00 | $50,350.00 | $2,090.00 | Unfav. |
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Business Solutions's second quarter 2020 fixed budget performance report for its computer furniture operations follows. The...
Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $163,260...
Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $163,260 budgeted expenses include $112,180 in variable expenses for desks and $15,080 in variable expenses for chairs, as well as $36,000 fixed expenses. The actual expenses include $37,500 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 142 148 58 66 $184,600 $190,920 $6,320...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $167,240...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $167,240 budgeted expenses include $114,240 in variable expenses for desks and $21,000 in variable expenses for chairs, as well as $32,000 fixed expenses. The actual expenses include $33,600 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 136 142 60 68 $170,000 $176,080 $6,080...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $156,000...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $156,000 budgeted expenses include $108,000 in variable expenses for desks and $18,000 in variable expenses for chairs, as well as $30,000 fixed expenses. The actual expenses include $31,000 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 144 150 72 80 $180,000 $186,000 $6,000...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $168,990...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $168,990 budgeted expenses include $111,200 in variable expenses for desks and $20,790 in variable expenses for chairs, as well as $37,000 fixed expenses. The actual expenses include $38,000 fixed expenses. List fixed and variable expenses separately. Fixed Budget Actual Results Variances Desk sales (in units) 139 145 Chair sales (in units) 63 71 Desk sales $ 179,310 $ 185,600 $ 6,290 F Chair sales 34,020...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $176,950...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $176,950 budgeted expenses include $120,350 in variable expenses for desks and $19,600 in variable expenses for chairs, as well as $37,000 fixed expenses. The actual expenses include $38,200 fixed expenses. List fixed and variable expenses separately. Fixed Budget Actual Results Variances Desk sales (in units) 145 151 Chair sales (in units) 70 78 Desk sales $ 191,400 $ 197,810 $ 6,410 F Chair sales 35,000...
Need help with this accounting question. Serial Problem Business Solutions LO P1 Business Solutions's second-quarter 2018...
Need help with this accounting question.
Serial Problem Business Solutions LO P1 Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $173,200 budgeted expenses include $120,080 in variable expenses for desks and $15,120 in variable expenses for chairs, as well as $38,000 fixed expenses. The actual expenses include $39,900 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations...
Solitaire Company's fixed budget performance report for June follows. The $300,000 budgeted expenses include $272,000 variable...
Solitaire Company's fixed budget performance report for June follows. The $300,000 budgeted expenses include $272,000 variable expenses and $28,000 fixed expenses. Actual expenses include $34,100 fixed expenses. Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 8,000 $400,000 300,000 $100,000 Actual Results 10.400 $520,000 364,000 $156,000 $120,000 64,000U $ 56,000 Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately. SOLITAIRE COMPANY Flexible Budget Performance...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,000 $640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 550,000 $ 57,200 $32,800 U 37,000 F $ 4,200 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Actual Fixed Budget Variances Results Sales (in units ) Sales (in dollars) Total expenses 8,000 $640,000 587,000 $ 53,000 6,900 $614,100 547,000 $25,900 U 40,000 F $67,100 $14,100 U Income from operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and...
Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $163,260 budgeted expenses include $112,180 in variable expenses for desks and $15,080 in variable expenses for chairs, as well as $36,000 fixed expenses. The actual expenses include $37,500 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 142 148 58 66 $184,600 $190,920 $6,320...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $167,240 budgeted expenses include $114,240 in variable expenses for desks and $21,000 in variable expenses for chairs, as well as $32,000 fixed expenses. The actual expenses include $33,600 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 136 142 60 68 $170,000 $176,080 $6,080...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $156,000 budgeted expenses include $108,000 in variable expenses for desks and $18,000 in variable expenses for chairs, as well as $30,000 fixed expenses. The actual expenses include $31,000 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget Actual Results Variances 144 150 72 80 $180,000 $186,000 $6,000...
Need help with this accounting question.
Serial Problem Business Solutions LO P1 Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $173,200 budgeted expenses include $120,080 in variable expenses for desks and $15,120 in variable expenses for chairs, as well as $38,000 fixed expenses. The actual expenses include $39,900 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations...
Solitaire Company's fixed budget performance report for June follows. The $300,000 budgeted expenses include $272,000 variable expenses and $28,000 fixed expenses. Actual expenses include $34,100 fixed expenses. Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 8,000 $400,000 300,000 $100,000 Actual Results 10.400 $520,000 364,000 $156,000 $120,000 64,000U $ 56,000 Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately. SOLITAIRE COMPANY Flexible Budget Performance...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,000 $640,000 587,000 $ 53,000 Actual Results 6,900 $607,200 550,000 $ 57,200 $32,800 U 37,000 F $ 4,200 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed...
Bay City Company's fixed budget performance report for July follows. The $587,000 budgeted total expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses. Actual Fixed Budget Variances Results Sales (in units ) Sales (in dollars) Total expenses 8,000 $640,000 587,000 $ 53,000 6,900 $614,100 547,000 $25,900 U 40,000 F $67,100 $14,100 U Income from operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and...
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