Homework Answers
| 12 | ||
| Net Operating income in flexible budget | 128000 | =12000*(90-69)-124000 |
| Less: Net Operating income in planning budget | 93350 | =10350*(90-69)-124000 |
| Activity variance in Net Operating income | 34650 | favorable |
| Option A $34,650 favorable is correct | ||
| 13 | ||
| Total actual expenses | 989400 | =(12000*72)+125400 |
| Less; Expenses in flexible budget | 952000 | =(12000*69)+124000 |
| Total spending variance | 37400 | Unfavorable |
| Option C $37,400 unfavorable is correct |
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For the month of July, Monroe Company, a maker of erhorepared the table below that shows...
For the month of July, Monroe Company, a maker of erobot, prepared the table below that...
For the month of July, Monroe Company, a maker of erobot, prepared the table below that shows their master budget (planning or static budget) and their nexible budget Actual Master Results Budget 10.350 s90 Seo $124,000 12,000 $87 $72 $125,400 Sales (in units) Selling Price per unit Variable Cost per unit Total Fixed Costs 12 What is the activity variance in net operating income? A. в. C. $34,650 favorable $38,750 favorable $73,400 favorable $54,600 favorable D. E. None of the...
For the month of July, Monroe Company, a ma (planning or static budget) and their flexible...
For the month of July, Monroe Company, a ma (planning or static budget) and their flexible budget. their master budget S. Monroe Company, a maker of erobot prepared the table below that shows the man Master Budget 10,350 $90 $69 $124,000 - Actual Results 11,000 $87 $72 $125.400 Sales (in units) Selling Price per unit Variable Cost per unit Total Fixed Costs 12 What is the activity variance in net operating income? $13,650 favorable $53,750 favorable $67,400 favorable $39,600 favorable...
The following information is available for Brownstone Products Company for the month of July: Units Sales...
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 Master Actual Budget 3,900 3,200 $55,800 $60,000 10,900 16,000 12,800 13,800 7,400 8,000 8,800 10,450 Required: 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable...
The following information is available for Brownstone Products Company for the month of July: Master Budget...
The following information is available for Brownstone Products Company for the month of July: Master Budget Actual Units 4,000 $60, 200 $60,000 16,000 13,900 3,900 Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses 20,000 14,900 8,700 8,000 10,100 10,000 Required: 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or...
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month...
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) onts Actual Costs 305 units Spending Variance Flexible Budget 305 units Volume Variance Master Budget 200 units $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 16,3001 27.000 9,050 12.300 64. 6501 14,800 22,800 8,800 11.400 57...
leason Guitars produces acoustic guitars. The table below contains budget and actual Information for the month...
leason Guitars produces acoustic guitars. The table below contains budget and actual Information for the month of June: (Indicate he effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Actual Costs 385 units Spending Variance Flexible Budget 385 units Volume Variance Master Budget 200 units $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 17,100 27,800 9,850 13,100 67,850 15,600 23,600 9,600 11,800 60,600 $
The following information is available for Brownstone Products Company for the month of July: Master Budget...
The following information is available for Brownstone Products Company for the month of July: 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 Actual Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Required 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable...
Calc+ Company manufactures calculators for schools. The master budget is based on sales of 40,000 units...
Calc+ Company manufactures calculators for schools. The master budget is based on sales of 40,000 units at $65 per calculator. Budgeted variable costs are $45 per unit, while budgeted fixed costs total $670,000. Actual income was $211,000 on actual sales of 42,000 units at $64 each. Actual variable costs were $43 per unit and actual fixed costs totaled $671,000. What is the master-budget variance of operating income (list variance amount and if it is favorable or unfavorable)? a. $41,000 Favorable...
Thornton Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost...
Thornton Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.80 per unit $ 3.60 per unit $2,800 total 800 total Thornton planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 units. Required a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U). d. Determine the amount of fixed cost that...
#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...
For the month of July, Monroe Company, a maker of erobot, prepared the table below that shows their master budget (planning or static budget) and their nexible budget Actual Master Results Budget 10.350 s90 Seo $124,000 12,000 $87 $72 $125,400 Sales (in units) Selling Price per unit Variable Cost per unit Total Fixed Costs 12 What is the activity variance in net operating income? A. в. C. $34,650 favorable $38,750 favorable $73,400 favorable $54,600 favorable D. E. None of the...
For the month of July, Monroe Company, a ma (planning or static budget) and their flexible budget. their master budget S. Monroe Company, a maker of erobot prepared the table below that shows the man Master Budget 10,350 $90 $69 $124,000 - Actual Results 11,000 $87 $72 $125.400 Sales (in units) Selling Price per unit Variable Cost per unit Total Fixed Costs 12 What is the activity variance in net operating income? $13,650 favorable $53,750 favorable $67,400 favorable $39,600 favorable...
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 Master Actual Budget 3,900 3,200 $55,800 $60,000 10,900 16,000 12,800 13,800 7,400 8,000 8,800 10,450 Required: 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable...
The following information is available for Brownstone Products Company for the month of July: Master Budget Actual Units 4,000 $60, 200 $60,000 16,000 13,900 3,900 Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses 20,000 14,900 8,700 8,000 10,100 10,000 Required: 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or...
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) onts Actual Costs 305 units Spending Variance Flexible Budget 305 units Volume Variance Master Budget 200 units $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 16,3001 27.000 9,050 12.300 64. 6501 14,800 22,800 8,800 11.400 57...
leason Guitars produces acoustic guitars. The table below contains budget and actual Information for the month of June: (Indicate he effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Actual Costs 385 units Spending Variance Flexible Budget 385 units Volume Variance Master Budget 200 units $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 17,100 27,800 9,850 13,100 67,850 15,600 23,600 9,600 11,800 60,600 $
The following information is available for Brownstone Products Company for the month of July: 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 Actual Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Required 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable...
Thornton Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.80 per unit $ 3.60 per unit $2,800 total 800 total Thornton planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 units. Required a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U). d. Determine the amount of fixed cost that...
#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...
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