Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 21,200 units of production shows sales of $593,600; variable costs of $63,600; and fixed costs of $141,000. QS 23-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 27,800 units at $734,400. Actual variable costs were $113,100 and actual fixed costs were $132,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.

Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 21,200 units of production shows sales of $593,600; variable costs of $63,600; and fixed costs of $141,000. QS 23-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 27,800 units at $734,400. Actual variable costs were $113,100 and actual fixed costs were $132,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.

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

Chapter9: Profit Planning And Flexible Budgets

Section: Chapter Questions

Problem 48BEB: Performance Report Based on Budgeted and Actual Levels of Production Balboa Company budgeted...

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Judges Gavel uses this information when preparing their flexible budget: direct materials of $3 per unit, direct labor of $2.50 per unit, and manufacturing overhead of $1.25 per unit. Fixed costs are $49,000. What would be the budgeted amounts for 33,000 and 35,000 units?
Preparing a performance report Use the flexible budget prepared in P7-6 for the 31,000-unit level and the actual operating results listed below for the 31,000-unit level. Required: 1. Prepare a performance report. 2. List the major reasons why the actual operating income at 31,000 units differs from the master budget operating income at 30,000 units in Figure 7-12. 3. Given the level at which the company operated, how was its cost control? Item Direct materials: Direct labor:
Performance Report Based on Budgeted and Actual Levels of Production Balboa Company budgeted production of 4,500 units with the following amounts: At the end of the year, Balboa had the following actual costs for production of 4,700 units: Required: 1. Calculate the budgeted amounts for each cost category listed above for the 4,500 budgeted units. 2. Prepare a performance report using a budget based on expected (budgeted) production of 4,500 units. 3. Prepare a performance report using a budget based on the actual level of production of 4,700 units.
Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 21,300 units of production shows sales of $511,200; variable costs of $63,900; and fixed costs of $142,000. QS 21-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,000 units at $576,000. Actual variable costs were $113,900 and actual fixed costs were $136,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable
Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 20,900 units of production shows sales of $564,300; variable costs of $62,700; and fixed costs of $143,000. QS 21-3 (Algo) Flexible budget income calculation LO P1 If the company actually produces and sells 26,400 units, calculate the flexible budget income. Sales Variable costs Contribution margin Fixed costs Income ----Flexible Budget- Variable Amount per Unit $ 0 Total Fixed Cost 20,900 units $ Flexible Budget at $ 26,400 units OS 0$ 0 0
Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 21,900 units of production shows sales of $547,500; variable costs of $55,700; and fixed costs of $142,000. QS 21-3 (Algo) Flexible budget income calculation LO P1 If the company actually produces and sells 27,100 units, calculate the flexible budget income. Contribution margin. ----Flexible Budget------ Variable Amount Total Fixed per Unit Cost ------Flexible Budget at- 21,900 units 27,100 units
! Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 21,900 units of production shows sales of $481,800; variable costs of $65,700; and fixed costs of $141,000. QS 21-3 (Algo) Flexible budget income calculation LO P1 If the company actually produces and sells 26,600 units, calculate the flexible budget income. Sales ------Flexible Budget------ ------Flexible Budget at ------ Variable Amount per Unit Total Fixed Cost 21,900 units 26,600 units Variable costs 3 Contribution margin $ 23 $ 0 $ 0 Fixed costs $ Income 0 $ 0
Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 20,400 units of production shows sales of $550,800; variable costs of $61,200; and fixed costs of $142,000. QS 21-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,700 units at $674,900. Actual variable costs were $113,300 and actual fixed costs were $137,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Sales Variable costs Contribution margin Fixed costs Income $ Flexible Budget Performance Report Flexible Budget Actual Results 0 0 $ 0 0 Variances Favorable/ Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable
! Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 21,800 units of production shows sales of $479,600; variable costs of $65,400; and fixed costs of $140,000. QS 21-3 (Algo) Flexible budget income calculation LO P1 If the company actually produces and sells 26,300 units, calculate the flexible budget income. Sales Variable costs Contribution margin Fixed costs Income ------Flexible Budget------ Variable Amount per Unit $ 0 Total Fixed Cost ------Flexible Budget at 21,800 units $ $ 0 0 26,300 units $ $ 0 0
Required information [The following information applies to the questions displayed below.] The fixed budget for 21,700 units of production shows sales of $455,700; variable costs of $65,100; and fixed costs of $143,000. If the company actually produces and sells 26,800 units, calculate the flexible budget income. -Flexible Budget- Flexible Budget at- Variable Amount Total Fixed per Unit Cont 26,800 units Sales Variable costs Contribution margin S 0 Fixed costs Income 21.700 units $ S 0 $ 0 S 0
Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below.] Brodrick Company expects to produce 21,200 units for the year ending December 31. A flexible budget for 21,200 units of production reflects sales of $466,400; variable costs of $63,600; and fixed costs of $142,000. QS 23-4 Flexible budget performance report LO P1 Assume that actual sales for the year are $551,800 (26,900 units), actual variable costs for the year are $113,900, and actual fixed costs for the year are $135,000. Prepare a flexible budget performance report for the year. BRODRICK COMPANY Flexible Budget Performance Report For Year Ended December 31 Favorable/ Unfavorable Flexible Budget Actual Results Variances Contribution margin 2$ 0 $
Required information Use the following information for the Problems below. (Algo) Skip to question [The following information applies to the questions displayed below.] Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,300 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,213,000 Costs Direct materials 1,009,800 Direct labor 244,800 Sales staff commissions 61,200 Depreciation—Machinery 300,000 Supervisory salaries 197,000 Shipping 229,500 Sales staff salaries (fixed annual amount) 245,000 Administrative salaries 534,920 Depreciation—Office equipment 198,000 Income $ 192,780 Problem 21-1A (Algo) Preparing and analyzing a flexible budget LO P1 Required:1&2. Prepare flexible budgets at sales volumes of 14,300 and 16,300 units.3. The company’s business conditions are improving. One possible result is a sales volume of 18,300 units. Prepare a simple budgeted…