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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Assume that a company's planned level of activity was 3,500 units and its actual level of activity was 4,000 units. The spending variance for one of its
mixed expenses was $900 favorable and its activity variance was $200 unfavorable. The total amount of this mixed cost included in the planning budget
was $12,000. What is the actual total amount of this mixed expense?
Multiple Choice
$11,300
$10,900
$13,100
$11,700
Expert Solution
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- Required Information [The following information applies to the questions displayed below.] The fixed budget for 21,300 units of production shows sales of $489,900; variable costs of $63,900; and fixed costs of $144,000. The company's actual sales were 27,300 units at $580,900. Actual variable costs were $113,400 and actual fixed costs were $138,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorablearrow_forwardPlease competely answerarrow_forwardCorreo Company had a static budgeted operating income of $8.6 million. Actual operating income was $6.4 million. The flexible budget operating income at the actual level of output is $7,000,000. What is the staticbudget variance of operating income? Question content area bottom Part 1 A. $1.6 million Unfavorable B. $1.6 million Favorable C. $2.2 million Favorable D. $2.2 million Unfavorable Please provide only typed answer solution no handwritten solution needed allowed.. Please do it neat and clean correctly.arrow_forward
- 10)The flexible-budget variance for materials is $5,000 (U). The sales-volume variance is $13,000 (U). The price variance for material is $31000 (F). The efficiency variance for direct manufacturing labor is $7,000 (F). Calculate the efficiency variance for materials. 11)Corp has prepared the following flexible budget for . F = favorable variance, U = unfavorable variance.arrow_forwardRequired information [The following information applies to the questions displayed below.] The fixed budget for 20,600 units of production shows sales of $597,400; variable costs of $61,800; and fixed costs of $143,000. The company's actual sales were 26,500 units at $720,500. Actual variable costs were $113,100 and actual fixed costs were $133,000. 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/ Unfavorablearrow_forwardFill in the blank cells Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Enter all variances as positive values. Revenue Variable Costs Contribution Margin Fixed Costs Operating Income Units Produced and Sold $ $ Actual $187,000 $ $76,000 $4,200 6,100 Flexible Budget Variance $98,070 $0 $98,070 0 U U ◆ Flexible Budget $ LA $23,330 $ $71,800 Sales-Volume Variance $13,900 $7,930 $0 $7,930 U U U 43 Static Budget $29,300 $182,000 $110.200 8,100arrow_forward
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