Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 10,000 travel locks for Gavin, Inc. (Click the icon to view the report.) (For variances with a $0 value, make sure to enter "0" in the appropriate cells.) Gavin, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2024 Actual Results Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income $ $ 10,000 170,000 51,800 118,200 15,600 102,600 Flexible Budget Variance $ $ Flexible Budget 10,000 150,000 50,100 99,900 15,100 84,800 Data table Gavin, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2024 Flexible Budget Variance Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Actual Results 10,000 S 170,000 (a) (b) 51,800 (d) 118,200 (1) 15,600 (h) () S 102,600 Print Done (c) S (e) (g) (0) (k) S Flexible Budget - X 10,000 150,000 50,100 99,900 15,100 84,800

Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 10,000 travel locks for Gavin, Inc. (Click the icon to view the report.) (For variances with a $0 value, make sure to enter "0" in the appropriate cells.) Gavin, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2024 Actual Results Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income $ $ 10,000 170,000 51,800 118,200 15,600 102,600 Flexible Budget Variance $ $ Flexible Budget 10,000 150,000 50,100 99,900 15,100 84,800 Data table Gavin, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2024 Flexible Budget Variance Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Actual Results 10,000 S 170,000 (a) (b) 51,800 (d) 118,200 (1) 15,600 (h) () S 102,600 Print Done (c) S (e) (g) (0) (k) S Flexible Budget - X 10,000 150,000 50,100 99,900 15,100 84,800

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 20BEA: Using Regression to Calculate Fixed Cost, Calculate the Variable Rate, Construct a Cost Formula, and...

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Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Refer to the information for Speedy Petes above. Assume that this information was used to construct the following formula for monthly delivery cost. TotalDeliveryCost=41,850+(12.00NumberofDeliveries) Required: Assume that 3,000 deliveries are budgeted for the following month of January. Use the total delivery cost formula for the following calculations: 1. Calculate total variable delivery cost for January. 2. Calculate total delivery cost for January.
Using Regression to Calculate Fixed Cost, Calculate the Variable Rate, Construct a Cost Formula, and Determine Budgeted Cost Refer to the information for Pizza Vesuvio on the previous page. Coefficients shown by a regression program for Pizza Vesuvios data are: Required: Use the results of regression to make the following calculations: 1. Calculate the fixed cost of labor and the variable rate per employee hour. 2. Construct the cost formula for total labor cost. 3. Calculate the budgeted cost for next month, assuming that 675 employee hours are budgeted. (Note: Round answers to the nearest dollar.) Use the following information for Brief Exercises 3-17 through 3-20: Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected:
The controller of the Stump Company is preparing the budget for 2021 and needs to estimate a cost function for delivery costs. Information regarding delivery costs incurred in the prior 2 months are: LOADING... (Click the icon to view the information.) Requirements 1. Estimate the cost function for delivery. 2. Can the constant in the cost function be used as an estimate of fixed delivery cost per month? Explain. Requirement 1. Estimate the cost function for delivery. Delivery costs = + ( × ) Delivery costs = + ( × ) Requirement 2. Can the constant in the cost function be used as an estimate of fixed delivery cost per month? Explain. The cost function in requirement 1 is an estimate of how costs behave ▼ outside of within the relevant range, not at cost levels ▼ outside within the relevant range. If there are no months with zero miles driven represented in the delivery cost…
Using a flexible budgeting approach how do I prepare a performance report for the current department for September 2016, comparing actual overhead cost with budgeted overhead cost for 5700 hours. Separate overhead costs into variable and fix components and show the amounts of any variances between actual and budget in amounts.
Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 10,000 travel locks for Gordon, Inc. (Click the icon to view the report.) (For variances with a $0 value, make sure to enter "0" in the appropriate cells.) Gordon, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2024 Actual Results Units Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income 10,000 170,000 51,700 118,300 15,700 102,600 Flexible Budget Variance $ Flexible Budget 10,000 150,000 49,800 100,200 15,300 84,900
Using a flexible budgeting approach how do I prepare a performance report for the passion department for April 2016, compare an actual overhead cost for 4600 hours. Separate overhead cost into variable and fixed components and show the amounts of any variances between actual budgeted amounts.
Marla Baldwin was a blt anxlous as she created the year-end performance reports. She remembered how management had hoped the economy would make a favorable turn, taking pressure off consumers so they'd feel more comfortable spending on the company's splurge Item-a luxurious hooded cotton robe. Alas, actual production and sales ended at 5,100 units, a whopping 1,000 units shy of the company's original budget. The following Information presents the company's actual Income statement and other key Information for Marla. Sales Varlable costs: DM Actual Income DL Varlable-MOH Contribution margin Fixed costs: Fixed-MOH Fixed SG&A Operating Income Standards are as follows. Direct materials Direct labor Variable-MOH Fixed-MOH $800,700 Selling price Fixed SGSA expense 172,125 (for 11,475 yards purchased and used) 75,276 (for 3,672 hours used) 45,900 O Search 507,399 170,978 243,100 Standard Quantity per Unit 2.30 yards 0.70 DL hours $93.321 Additional master budget Information: 2.30 yards 2.30…
Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 9,000 travel locks for Galen, Inc. E (Click the icon to view the report.) (For variances with a $0 value, make sure to enter "0" in the appropriate cells.) - X Galen, Inc. Data Table Flexible Budget Performance Report (partial) For the Month Ended April 30, 2018 Actual Flexible Budget Flexible Galen, Inc. Results Variance Budget Flexible Budget Performance Report (partial) For the Month Ended April 30, 2018 Flexible Budget Units 9.000 9,000 Flexible Budget Actual Sales Revenue 171,000 $ 153,000 Results Variance 51,900 49,700 Variable Costs Units 9,000 (a) 9,000 Contribution Margin 119.100 103,300 Sales Revenue 171,000 (b) (c) s 153.000 15,700 15,100 Fixed Costs Variable Costs 51,900 (d) (e) 49,700 Operating Income $ 103.400 $ 88,200 Contribution Margin 119,100 (f) (g) 103,300 Fixed Costs 15,700 (h) () 15,100 Operating Income $ 103,400 (k) s 88,200 Print Done
The followings are the budget for next financial year (1 January 2023 - 31 December 2023), indicating the average selling price and variable costs of each product category. The common fixed manufacturing overhead and the fixed non-manufacturing overhead costs are estimated to be $1,250,000 and $2,778,320 respectively. Table 1: Budget Jan - Dec 2023 Sales Quantity (in units) In $ Unit selling price Unit production cost Unit selling & admin variable costs (5% of selling price) In $ Revenue Variable Production Costs Selling & Admin Variable Costs Model 1 8,400 600 250 30 Folding Bike Model 2 7,500 400 180 20 Model 3 3,500 480 200 24 Electric Bike 800 2,000 850 100 Total 20,200 5,040,000 3,000,000 1,680,000 1,600,000 11,320,000 (2,100,000)| (1,350,000)| (700,000)| (680,000)| (4,830,000) (252,000) (150,000) (84,000) (80,000) (566,000) Q1. Based on the above budgeted information, calculate the expected breakeven units for the Model 2 folding bikes.
The following relates to a given department of Caloy for the first quarter of 2020: Actual FOH (fixed plus Variable) Budget formula Total FOH application rate Spending Variance (from 3-way) Volume variance (from 2-way) Overall factory overhead variance What were the actual hours worked in this department during the quarter? a. 110,000 b. 121,000 c. 137,000 d. 153,000 P178,500 P110,000 + PO.50 per hour P1.50 P8,000 U P5,000 F P6,000 U What were the standard hours allowed for good output in this department? a. 105,000 b. 106,667 c. 110,000 d. 115,000
Bridgeport Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities Budgeted fixed overhead costs per month are Supervision $3,440, Depreciation $1,032, and property Taxes $688. The company believes it will normally operate in a range of 6,020-8,600 direct labor hours per month. Assume that in July 2022, Bridgeport Company incurs the following manufacturing overhead costs. $1.00 0.70 0.40 Variable Costs Indirect labor Indirect materials Utilities. $7,568 4,988 2,752 Fixed Costs Supervision Depreciation Property taxes $3,440 1,032 688 (a) Prepare a flexible budget performance report, assuming that the company worked 7,740 direct labor hours during the month. (List variable costs before fixed costs.)
Thomson Manufacuting reports the following information at year end. Actual overhead applied RM257,000. Flexible budget based on standard hours RM309,000. Flexible budget based on actual hours RM293,000 What is the amount of the efficiency variance?