Homework Answers
Flexible budget is what you are expecting. If actual result is better than your expectation, then it favourable, otherwise unfavourable.
When comparing revenue:
In terms of revenue, better than your expectation means you are earning higher than your expectation.
If flexible budget for revenue is higher than the actual
revenue, then it unfavourable.
If flexible budget for revenue is less than the actual revenue,
then it favourable.
When comparing expenses:
In terms of expense, better than your expectation means you are spending less than your expectation.
If flexible budget for expenses is higher than the actual
expenses, then it favourable.
If flexible budget for expenses is less than the actual expenses,
then it unfavourable.
Add Answer to:
how
to know when is favorable and unfavorable in a flex budget income
statement?
( for...
the flexible budget variance for operation income is Favorable 13) /The following data are for Point...
the flexible budget variance for operation income is
Favorable 13) /The following data are for Point Corporation: A Flexible Budget for Actual Sales Activity 18,000 $360,000 216,000 $144,000 Static Budget Actual Units 18,000 $360,000 16,000 $320,000 Sales Variable costs 234,000 $126,000 76,000 $50,000 192,000 $128,000 Contribution margin Fixed costs 80,000 $64,000 80,000 $48,000 Operating income 2,000 The flexible budget variance for operating income is A) $14,000 Favorable C) $2,000 Favorable B) $14,000 Unfavorable D) $2,000 Unfavorable
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable c...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct matrials$51,600 $50,600 $1,000 Favorable Direct labor Indirect materials 28,800 29,000 200 Unfavorable Indirect labor Utilities Maintenance 56,400 53,600 2,800 Favorable 22,800 22,380 420 Favorable 15,000 14,860 140 Favorable 8,400 8,740340 Unfavorable Total variable 165,0o 183,000 179,180 3,820 Favorable Fixed costs Rent Supervision Depreciation 12,200 12,200 0-Neither Favorable nor Unfavorable 16,900 16,900 0 Neither...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials $51,240 $50,140 $1,100 Favorable Direct labor 59,780 56,580 3,200 Favorable Indirect materials 25,620 25,820 200 Unfavorable Indirect labor 21,960 21,560 400 Favorable Utilities 18,300 18,170 130 Favorable Maintenance 6,100 6,450 350 Unfavorable Total variable 183,000 178,720 4,280 Favorable Fixed costs Rent 10,100 10,100 -0- Neither Favorable nor Unfavorable Supervision 18,000 18,000 -0-...
Managerial accounting. Not sure if they're correct. Can someone work it out? V and VI I...
Managerial accounting.
Not sure if they're correct. Can someone work it out? V and
VI
I added IV as the datasheet info.
V. Using the base information in IV, show a flex budget income statement (no inventory) for next year in yariable costing format based on units sold. Assume price will increase to $53 per unit. All other costs remain consistent with the prior year. Calculate for scenarios for 25,000 units, 30,000 units and 35,000 units sold. (10 points). 0=25/000...
Paradigm Toys Flexible Budget Performance Report Difference Budget Actual Favorable (F) Unfavorable (U) Production in units...
Paradigm Toys Flexible Budget Performance Report Difference Budget Actual Favorable (F) Unfavorable (U) Production in units 18,00018,000 Direct labor Direct labor hours (1 hour/unit) 18,000 18,200 200 (U) Direct labor costs ($20/hour) $360,000 $354,900 5,100 (F) Direct Materials Quantity (.5/unit) Dollars ($20/unit) 9,000 9,300 300 (U) 360,000 375,000 $15,000 (U) Variable costs Indirect materials Indirect labor Utilities 720,000 700,000 20.000 (F) 324,000 288.000 36,000 (F) 98,000 176,000 22,000 (F) 1,242,000 1,164,000 76.000 (F Total variable costs 1,242,000 1,164,000 78,00 F)...
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income...
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2019 (1) (2) (3) Variances Actual Operating Income Master (Static) Budget 220U Units 780 1,000 $ 160,400U 100% $639,600 100% Sales $800,000 Variable costs 99.050F 350,950 55 450.000 56 $350,000 Contribution margin $288,650 45% 44% $ 61,350U 150.000 *** 160.650 Fixed costs 25 19 10.650U $128,000 20% $ Operating income $200,000 25% 72,000U *U denotes an unfavorable effect on operating income. *F...
Assume that in October 2019 the Schmidt Machinery Company (Exhibit 14.1) manufactured and sold 950 units...
Assume that in October 2019 the Schmidt Machinery Company
(Exhibit 14.1) manufactured and sold 950 units for $854 each.
During this month, the company incurred $380,000 total variable
costs and $181,900 total fixed costs. The master (static) budget
data for the month are as given in Exhibit 14.1.
Required:
1. Prepare a flexible budget for the production and sale of 950
units.
2. Compute for October 2019:
a. The sales volume variance, in terms of operating income.
Indicate whether this...
please expain how to get the nunbers for "flexible budget" column! thank you Problem 21-2A Preparation...
please expain how to get the nunbers for "flexible budget"
column! thank you
Problem 21-2A Preparation and analysis of a flexible budget performance report LO P1, P2, A1 Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. ints awarded Scored $3,000,000 eBook PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direet labor Machinery repairs (variable...
Phoenix Company’s 2017 master budget included the following fixed budget report. It is based on an...
Phoenix Company’s 2017 master budget included the following
fixed budget report. It is based on an expected production and
sales volume of 15,000 units.
PHOENIX COMPANY
Fixed Budget Report
For Year Ended December 31, 2017
Sales
$
3,000,000
Cost of goods sold
Direct materials
$
945,000
Direct labor
240,000
Machinery repairs (variable cost)
60,000
Depreciation—Plant equipment (straight-line)
315,000
Utilities ($30,000 is variable)
195,000
Plant management salaries
220,000
1,975,000
Gross profit
1,025,000
Selling expenses
Packaging
90,000
Shipping
105,000
Sales salary (fixed...
Required information Problem 21-1A Preparing and analyzing a flexible budget LO P1, A1 The following information...
Required information Problem 21-1A Preparing and analyzing a flexible budget LO P1, A1 The following information applies to the questions displayed below.) Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,800 is variable) Plant management...
the flexible budget variance for operation income is
Favorable 13) /The following data are for Point Corporation: A Flexible Budget for Actual Sales Activity 18,000 $360,000 216,000 $144,000 Static Budget Actual Units 18,000 $360,000 16,000 $320,000 Sales Variable costs 234,000 $126,000 76,000 $50,000 192,000 $128,000 Contribution margin Fixed costs 80,000 $64,000 80,000 $48,000 Operating income 2,000 The flexible budget variance for operating income is A) $14,000 Favorable C) $2,000 Favorable B) $14,000 Unfavorable D) $2,000 Unfavorable
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct matrials$51,600 $50,600 $1,000 Favorable Direct labor Indirect materials 28,800 29,000 200 Unfavorable Indirect labor Utilities Maintenance 56,400 53,600 2,800 Favorable 22,800 22,380 420 Favorable 15,000 14,860 140 Favorable 8,400 8,740340 Unfavorable Total variable 165,0o 183,000 179,180 3,820 Favorable Fixed costs Rent Supervision Depreciation 12,200 12,200 0-Neither Favorable nor Unfavorable 16,900 16,900 0 Neither...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials $51,240 $50,140 $1,100 Favorable Direct labor 59,780 56,580 3,200 Favorable Indirect materials 25,620 25,820 200 Unfavorable Indirect labor 21,960 21,560 400 Favorable Utilities 18,300 18,170 130 Favorable Maintenance 6,100 6,450 350 Unfavorable Total variable 183,000 178,720 4,280 Favorable Fixed costs Rent 10,100 10,100 -0- Neither Favorable nor Unfavorable Supervision 18,000 18,000 -0-...
Managerial accounting.
Not sure if they're correct. Can someone work it out? V and
VI
I added IV as the datasheet info.
V. Using the base information in IV, show a flex budget income statement (no inventory) for next year in yariable costing format based on units sold. Assume price will increase to $53 per unit. All other costs remain consistent with the prior year. Calculate for scenarios for 25,000 units, 30,000 units and 35,000 units sold. (10 points). 0=25/000...
Paradigm Toys Flexible Budget Performance Report Difference Budget Actual Favorable (F) Unfavorable (U) Production in units 18,00018,000 Direct labor Direct labor hours (1 hour/unit) 18,000 18,200 200 (U) Direct labor costs ($20/hour) $360,000 $354,900 5,100 (F) Direct Materials Quantity (.5/unit) Dollars ($20/unit) 9,000 9,300 300 (U) 360,000 375,000 $15,000 (U) Variable costs Indirect materials Indirect labor Utilities 720,000 700,000 20.000 (F) 324,000 288.000 36,000 (F) 98,000 176,000 22,000 (F) 1,242,000 1,164,000 76.000 (F Total variable costs 1,242,000 1,164,000 78,00 F)...
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2019 (1) (2) (3) Variances Actual Operating Income Master (Static) Budget 220U Units 780 1,000 $ 160,400U 100% $639,600 100% Sales $800,000 Variable costs 99.050F 350,950 55 450.000 56 $350,000 Contribution margin $288,650 45% 44% $ 61,350U 150.000 *** 160.650 Fixed costs 25 19 10.650U $128,000 20% $ Operating income $200,000 25% 72,000U *U denotes an unfavorable effect on operating income. *F...
Assume that in October 2019 the Schmidt Machinery Company
(Exhibit 14.1) manufactured and sold 950 units for $854 each.
During this month, the company incurred $380,000 total variable
costs and $181,900 total fixed costs. The master (static) budget
data for the month are as given in Exhibit 14.1.
Required:
1. Prepare a flexible budget for the production and sale of 950
units.
2. Compute for October 2019:
a. The sales volume variance, in terms of operating income.
Indicate whether this...
please expain how to get the nunbers for "flexible budget"
column! thank you
Problem 21-2A Preparation and analysis of a flexible budget performance report LO P1, P2, A1 Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. ints awarded Scored $3,000,000 eBook PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials Direet labor Machinery repairs (variable...
Phoenix Company’s 2017 master budget included the following
fixed budget report. It is based on an expected production and
sales volume of 15,000 units.
PHOENIX COMPANY
Fixed Budget Report
For Year Ended December 31, 2017
Sales
$
3,000,000
Cost of goods sold
Direct materials
$
945,000
Direct labor
240,000
Machinery repairs (variable cost)
60,000
Depreciation—Plant equipment (straight-line)
315,000
Utilities ($30,000 is variable)
195,000
Plant management salaries
220,000
1,975,000
Gross profit
1,025,000
Selling expenses
Packaging
90,000
Shipping
105,000
Sales salary (fixed...
Required information Problem 21-1A Preparing and analyzing a flexible budget LO P1, A1 The following information applies to the questions displayed below.) Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. $3,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,800 is variable) Plant management...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago