Homework Answers
Solution:
Calucation of Varianaces and thier %
Working:
Variance = Actual Sales -Budgeted Sales
Variance %= (Variance /Budgeted Sales) X 100
When Actual is more than Budgeted than its a Favorable and if it is less than its is unfavorable.
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The following is a partial performance report for a revenue center for the Northern Division of...
The following is a partial performance report for a revenue center for the Northern Division of...
The following is a partial performance report for a revenue center for the Northern Division of Summer Food . Restaurants. Summer Food Restaurants Sales Revenue - Northern Division For the Month Ended June 30 Variance Product ActualSales Budgeted Sales Variance Variance Percentage Food $159,650 $155,000 . ? ? Dessert 21,340 22,000 . ? ? Bar 59,160 . 58,000 ? ? Catering 57,000 60,000 ? ? Fill in the missing amounts. Indicate whether each variance is favorable (F) or unfavorable (U)....
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The following data pertain to the Waikiki Sands Hotel for the month of March Flexible Budget Actual Results March March (in thousands)* (in thousands)* $ 665 1,830 $ 676 1,821 Banquets and Catering...
The following data pertain to the Waikiki Sands Hotel for the month of March Flexible Budget Actual Results March March (in thousands)* (in thousands)* $ 665 1,830 $ 676 1,821 Banquets and Catering Restaurants Kitchen staff wages Food Paper products Variable overhead Fixed overhead (92) (708) (131) (84) (102) (91) (705) (134) (81) (96) "Numbers without parentheses denote profit; numbers with parentheses denote expenses Required Based on Exhibit 12-4, prepare a March performance report and use the same data for...
Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include...
Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 6,000 $480,000 440,000 $ 40,000 Actual Results 4,900 $ 436,100 400,000 $ 36,100 $43,900 U 40,000 F $ 3,900 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List...
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Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $326,250 budgeted expenses include $278,400 variable expenses and $47,850 fixed expenses. Actual expenses include $56,750 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,700 $435,000 326,250 $108,750 Actual Results 11,100 $555,000 388,500 $166,500 $120,000 62,250U $ 57,750 F Prepare a flexible budget performance report showing any variances between budgeted and actual results....
The following data pertain to the Waikiki Sands Hotel for the month of March. Banquets and...
The following data pertain to the Waikiki Sands Hotel for the month of March. Banquets and Catering Restaurants Kitchen staff wages Food Paper products Variable overhead Fixed overhead Flexible Budget Actual Results March March (in thousands) * (in thousands ) * $ 715 $ 736 1,930 1,911 (111) (112) (755) (768) (164) (161) (101) (104) (116) (132) *Numbers without parentheses denote profit; numbers with parentheses denote expenses. Required: Based on Exhibit 12-4, prepare a March performance report and use the...
E10-39B (similar to) Question Help Requirement Construct a flexible budget performance report for Divine Muffins for...
E10-39B (similar to) Question Help Requirement Construct a flexible budget performance report for Divine Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Divine Muffins sells its muffins to restaurants and coffee houses for an average selling price...
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Solitaire Company's fixed budget performance report for June follows. The $315,000 budgeted expenses include $260,400 variable expenses and $54,600 fixed expenses. Actual expenses include $60,700 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,400 $420,000 315,000 $105,000 Actual Results 10,800 $540,000 378,000 $ 162,000 $120,000 F 63,000 $ 57,000 F Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately. Answer is...
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 6,900 $640,000 587,000 614,100 549,000 $ 65,100 $25,900 U 38,000 F Income from $12,100 U 53,000 operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable...
Sanco Industries has a relevant range extending to 31,500 units each month. The following performance report provides information about Sanco'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)....
Bay City Company's fixed budget performance report for July follows. The $594,000 budgeted total expenses include $450,000 variable expenses and $144,000 fixed expenses. Actual expenses include $134,000 fixed expenses. Fixed Budget Variances 8,100 Sales (in units) Sales (in dollars) Total expenses Income from operations Actual Results 7,000 $ 623,000 561,000 $ 62,000 $648,000 594,000 $ 54,000 $ 25,000 U _33,000 F $ 8,000 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results....
The following data pertain to the Waikiki Sands Hotel for the month of March Flexible Budget Actual Results March March (in thousands)* (in thousands)* $ 665 1,830 $ 676 1,821 Banquets and Catering Restaurants Kitchen staff wages Food Paper products Variable overhead Fixed overhead (92) (708) (131) (84) (102) (91) (705) (134) (81) (96) "Numbers without parentheses denote profit; numbers with parentheses denote expenses Required Based on Exhibit 12-4, prepare a March performance report and use the same data for...
Bay City Company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. Fixed Budget Variances Sales (in units) Sales (in dollars) Total expenses Income from operations 6,000 $480,000 440,000 $ 40,000 Actual Results 4,900 $ 436,100 400,000 $ 36,100 $43,900 U 40,000 F $ 3,900 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List...
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $326,250 budgeted expenses include $278,400 variable expenses and $47,850 fixed expenses. Actual expenses include $56,750 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,700 $435,000 326,250 $108,750 Actual Results 11,100 $555,000 388,500 $166,500 $120,000 62,250U $ 57,750 F Prepare a flexible budget performance report showing any variances between budgeted and actual results....
The following data pertain to the Waikiki Sands Hotel for the month of March. Banquets and Catering Restaurants Kitchen staff wages Food Paper products Variable overhead Fixed overhead Flexible Budget Actual Results March March (in thousands) * (in thousands ) * $ 715 $ 736 1,930 1,911 (111) (112) (755) (768) (164) (161) (101) (104) (116) (132) *Numbers without parentheses denote profit; numbers with parentheses denote expenses. Required: Based on Exhibit 12-4, prepare a March performance report and use the...
E10-39B (similar to) Question Help Requirement Construct a flexible budget performance report for Divine Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Divine Muffins sells its muffins to restaurants and coffee houses for an average selling price...
Solitaire Company's fixed budget performance report for June follows. The $315,000 budgeted expenses include $260,400 variable expenses and $54,600 fixed expenses. Actual expenses include $60,700 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 8,400 $420,000 315,000 $105,000 Actual Results 10,800 $540,000 378,000 $ 162,000 $120,000 F 63,000 $ 57,000 F Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately. Answer is...
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 6,900 $640,000 587,000 614,100 549,000 $ 65,100 $25,900 U 38,000 F Income from $12,100 U 53,000 operations Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable...
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