Perform the revenue, cost and profit variance analyses for both the simple and flexible budgets. (Represented in millio...
- Perform the revenue, cost and profit variance analyses for both the simple and flexible budgets. (Represented in millions)
|
Simple |
Flexible |
Actual |
|||
|
Budget |
Budget |
Results |
|||
|
Revenue |
5.5 |
6.2 |
5.2 |
||
|
Cost |
4.9 |
5.3 |
4.9 |
||
|
Profit |
0.6 |
0.9 |
0.3 |
Homework Answers
|
Simple Budget (a) |
Flexible Budget (b) |
Actual Result (c) |
Simple Budget Variance (c - a) |
Direction |
Flexible Budget Variance (c - b) |
Direction |
|
|
Revenue |
$5,500,000 |
$6,200,000 |
$5,200,000 |
($300,000) |
Unfavorable |
($1,000,000) |
Unfavorable |
|
Cost |
$4,900,000 |
$5,300,000 |
$4,900,000 |
$0 |
No effect |
($400,000) |
Favorable |
|
Profit |
$600,000 |
$900,000 |
$300,000 |
($300,000) |
Unfavorable |
($600,000) |
Unfavorable |
Add Answer to:
Perform the revenue, cost and profit variance analyses for both the simple and flexible budgets. (Represented in millio...
Clementine Company makes skateboards. They prepare master and flexible budgets and then perform variance analysis after...
Clementine Company makes skateboards. They prepare master and flexible budgets and then perform variance analysis after the budget plan period elapses. Their data is as follows: Budget Actual $102 $103 Selling price per unit Variable cost per unit $47 $48 Quantity sold 934 1,035 What is the Clementine's flexible budget variance for VARIABLE COSTS? If the variance is unfavorable put a minus sign in front of your answer. Enter your answer without commas or decimals.
#4 only. 14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance;...
#4 only.
14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual Master Budget 3.800 4,000 $53.200 $60,000 19.000 16,000 16.000 15,000 7.700 8,000 10,000 9,000 Required 1. What was the total operating income variance for July, rounded to the...
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate....
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Standard Price per Dark Light Chocolate Chocolate Pound Cocoa 9 lb. 6 lb. $5.2 11 lb Sugar 7 lb. 0.6 Standard labor 0.3 hr 0.4 hr time Dark Chocolate Light Chocolate 5,100 cases 11,500 cases Planned production $16.5 per hr $16.5 per hr. Standard labor rate...
#3 only. 14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance;...
#3 only.
14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual Master Budget 3.800 4,000 $53,200 $60,000 19.000 16,000 16.000 15,000 7,700 8,000 10.000 9,000 Required 1. What was the total operating income variance for July, rounded to the...
#2 only. 14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance;...
#2 only.
14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual Master Budget 3.800 4,000 $53.200 $60,000 19.000 16,000 16.000 15,000 7,700 5,000 10,000 9,000 Required 1. What was the total operating income variance for July, rounded to the...
. 1. Prepare the following variance analyses for both chocolates and the total, based on the...
.
1. Prepare the following variance analyses for
both chocolates and the total, based on the actual results and
production levels at the end of the budget year:
a. Direct materials price
variance, direct materials quantity variance, and total
variance.
b. Direct labor rate variance,
direct labor time variance, and total variance.
Enter a favorable variance as a negative number using a minus
sign and an unfavorable variance as a positive number.
a.
Direct materials price variance
$
Direct materials...
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate....
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound Cocoa 10 lb. 7 lb. $4.9 Sugar 8 lb. 12 lb. 0.6 Standard labor time 0.4 hr. 0.5 hr. Dark Chocolate Light Chocolate Planned production 4,400 cases 13,300 cases Standard labor rate $15 per hr. $15 per hr....
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate....
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound Cocoa 11 lb. 8 lb. $4.8 Sugar 9 lb. 13 lb. 0.6 Standard labor time 0.4 hr. 0.5 hr. Dark Chocolate Light Chocolate Planned production 5,700 cases 12,700 cases Standard labor rate $15 per hr. $15 per hr....
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate....
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound Cocoa 12 lb. 9 lb. $4.8 Sugar 10 lb. 14 lb. 0.6 Standard labor time 0.4 hr. 0.5 hr. Dark Chocolate Light Chocolate Planned production 4,000 cases 12,200 cases Standard labor rate $15 per hr. $15 per hr....
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate....
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Dark Light Chocolate Standard Price per Pound Chocolate Cocoa 12 lb. 9 lb. $5.3 0.6 Sugar 10 lb. 14 lb. Standard labor 0.4 hr. 0.5 hr. time Dark Chocolate Light Chocolate Planned production 5,400 cases 10,100 cases Standard labor rate $14 per hr. $14 per hr....
Clementine Company makes skateboards. They prepare master and flexible budgets and then perform variance analysis after the budget plan period elapses. Their data is as follows: Budget Actual $102 $103 Selling price per unit Variable cost per unit $47 $48 Quantity sold 934 1,035 What is the Clementine's flexible budget variance for VARIABLE COSTS? If the variance is unfavorable put a minus sign in front of your answer. Enter your answer without commas or decimals.
#4 only.
14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual Master Budget 3.800 4,000 $53.200 $60,000 19.000 16,000 16.000 15,000 7.700 8,000 10,000 9,000 Required 1. What was the total operating income variance for July, rounded to the...
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Standard Price per Dark Light Chocolate Chocolate Pound Cocoa 9 lb. 6 lb. $5.2 11 lb Sugar 7 lb. 0.6 Standard labor 0.3 hr 0.4 hr time Dark Chocolate Light Chocolate 5,100 cases 11,500 cases Planned production $16.5 per hr $16.5 per hr. Standard labor rate...
#3 only.
14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual Master Budget 3.800 4,000 $53,200 $60,000 19.000 16,000 16.000 15,000 7,700 8,000 10.000 9,000 Required 1. What was the total operating income variance for July, rounded to the...
#2 only.
14-23 Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual Master Budget 3.800 4,000 $53.200 $60,000 19.000 16,000 16.000 15,000 7,700 5,000 10,000 9,000 Required 1. What was the total operating income variance for July, rounded to the...
.
1. Prepare the following variance analyses for
both chocolates and the total, based on the actual results and
production levels at the end of the budget year:
a. Direct materials price
variance, direct materials quantity variance, and total
variance.
b. Direct labor rate variance,
direct labor time variance, and total variance.
Enter a favorable variance as a negative number using a minus
sign and an unfavorable variance as a positive number.
a.
Direct materials price variance
$
Direct materials...
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Dark Light Chocolate Standard Price per Pound Chocolate Cocoa 12 lb. 9 lb. $5.3 0.6 Sugar 10 lb. 14 lb. Standard labor 0.4 hr. 0.5 hr. time Dark Chocolate Light Chocolate Planned production 5,400 cases 10,100 cases Standard labor rate $14 per hr. $14 per hr....
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