6. Prepare a budgeted income statement using the information shown. Sales units 84,000 Sales price per unit Uncollectible expense Direct material per unit Direct labor hours per unit Direct labor rate per hour Manufacturing overhead Variable sales and administration expenses per unit sold Fixed sales and administration expenses 22 1% 1.50 0.8 $ 19 $14,000 $ 2.10 $23,000 15%* Taxes *of income before taxes

6. Prepare a budgeted income statement using the information shown. Sales units 84,000 Sales price per unit Uncollectible expense Direct material per unit Direct labor hours per unit Direct labor rate per hour Manufacturing overhead Variable sales and administration expenses per unit sold Fixed sales and administration expenses 22 1% 1.50 0.8 $ 19 $14,000 $ 2.10 $23,000 15%* Taxes *of income before taxes

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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q7: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 10,000 15,000 20,000 Rs. Rs. Rs. Sales 800,000 1,200,000 1,600,000 Manufacturing cost: Variable 300,000 450,000 600,000 Fixed 200,000 200,000 200,000 Total manufacturing cost 500,000 650,000 800,000 Marketing and other expenses: Variable 200,000 300,000 400,000 Fixed 160,000 160,000 160,000 Total Marketing and other exp 360,000 460,000 560,000…
Please help me with show all calculation thanku
Item to Classify Standard Actual Sales Revenue 832,000 853,000 Wages 137,000 141,200 S&A Expenses 412,000 421,200 Cost of Goods Sold 621,200 612,000 The sales revenue flexible budget variance was: Multiple Choice $21,000 unfavorable. $11,800 favorable. $21,000 favorable. $11,800 unfavorable.
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6. Bloomsbury plc sells one product for which data for a budgeted period are given below: Selling price per unit Variable cost per unit Fixed cost per unit 80 48 16 Fixed costs are based on a budgeted level of activity of 5,000 units. Calculate the total costs of production of 5,000 units: A. £80,000 B. £240,000 C. £320,000 D. £400,000.
2.)
Sales price $91 Direct material per unit 31 Direct labor per unit 16 Variable manufacturing overhead per unit 13 Fixed manufacturing overhead per unit 77,000 Variable sales and admin expenses per unit 4 Fixed sales and admin expenses per unit 24,000 Taxes 30%* *of income before taxes Prepare a flexible budgeted income for 100,000 units using the above information from a static budget for 80,000 units: Flexible Budgeted Income Statement $- Select - Cost of Goods Sold - Select - - Select - - Select - - Select - $- Select - $- Select - - Select - - Select - $- Select - - Select - $- Select -
Benson Company has provided the following Year 2 data. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense Variances Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense BENSON COMPANY Internal Income Statement for Year 2 Budget Required Prepare a budgeted and actual Income statement for Internal use. Sales Variable expenses: Product costs $504,000 186,000 46,000 3,300 16,500 23,400 1,900 700 Selling expenses Other expenses Contribution margin Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 8,600 Unfavorable 4,200 Favorable 2,300 Unfavorable 1,700 Unfavorable 310 Favorable 490 Favorable 190 Unfavorable 90 Favorable Actual
7.
Sales Revenue Approach, Variable Cost Ratio, Contribution MarginRatioArberg Company’s controller prepared the following budgeted income statement for thecoming year: Required:1. What is Arberg’s variable cost ratio? What is its contribution margin ratio?2. Suppose Arberg’s actual revenues are $30,000 more than budgeted. By how much willoperating income increase? Give the answer without preparing a new income statement.3. How much sales revenue must Arberg earn to break even? Prepare a contribution marginincome statement to verify the accuracy of your answer.4. What is Arberg’s expected margin of safety?5. What is Arberg’s margin of safety if sales revenue is $380,000?
Include contribution Margin
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