Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $170.470budgeted expenses include $120,080 in variable expenses for desks and $15.390 in variable expenses for chairs, as well as $35,000of fixed expenses. Actual fixed expenses total $36,500Desk sales (in units)Chair sales (in units)Desk sales.Chair salesTotal expensesIncomeFor Quarter Ended June 30Desk salesChair salesVariable expensesContribution marginFixed Budget15257Fixed expensesIncome$ 194,56031,920170,470ActualResults15865$ 200,66037,375179,160$ 56,010 $ 58,875VariancesRequired:Prepare a flexible budget performance report that shows variances between budgeted results and actual results, (Indicate the effectof each variance by selecting favorable, unfavorable, or no variance.)$ 6,100 F5,455 F8,690 U$ 2,065BUSINESS SOLUTIONSFlexible Budget Performance ReportFlexible Budget Actual Results Variance+Favorable/Unfavorable

The contribution margin is calculated as the difference between the sales and variable costs. The…

Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $170.470 budgeted expenses include $120,080 in variable expenses for desks and $15.390 in variable expenses for chairs, as well as $35,000 of fixed expenses. Actual fixed expenses total $36,500 Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Actual Fixed Budget Results 152 57 158 65 $ 194,560 31,920 170,470 $ 56,010 $ 58,875 $ 200,660 37,375 179,160 Variances $ 6,100 F 5,455 F 8,690 U $ 2,865 Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results, (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) BUSINESS DEUTIONE

Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $170.470 budgeted expenses include $120,080 in variable expenses for desks and $15.390 in variable expenses for chairs, as well as $35,000 of fixed expenses. Actual fixed expenses total $36,500 Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Actual Fixed Budget Results 152 57 158 65 $ 194,560 31,920 170,470 $ 56,010 $ 58,875 $ 200,660 37,375 179,160 Variances $ 6,100 F 5,455 F 8,690 U $ 2,865 Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results, (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) BUSINESS DEUTIONE

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 10CE: Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects...

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Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $178,970 budgeted expenses include $120,800 in variable expenses for desks and $19,170 in variable expenses for chairs, as well as $39,000 of fixed expenses. Actual fixed expenses total $40,400. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income. For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Fixed Budget Fixed expenses Income 151 71 Actual Results 157 79 $ 202,340 $ 208,810 36,210 41,475 178,970 187,670 Variances Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) $6,470 F 5,265 P 8,700 U $ 59,580 $ 62,615 $ 3,035 F BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance…
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $179,710 budgeted expenses include $122.010 in variable expenses for desks and $20,700 in variable expenses for chairs, as well as $37,000 of fixed expenses. Actual fixed expenses total $38,300. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Fixed Budget 147 69 Fixed expenses Income Actual Results 153 77 Variances $ 188,160 37,950 179,718 $ 46,400 $ 48,975 $ 2,575 F $ 194,310 43,505 188,840 Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) $ 6,150 F 5,555 F 9,130 U BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance…
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $157,830 budgeted expenses include $109,350 in variable expenses for desks and $18,480 in variable expenses for chairs, as well as $30,000 of fixed expenses. Actual fixed expenses total $31,800. Desk sales (in units) Chair sales (in units); Desk sales Chair sales Total expenses Income For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Fixed Budget Fixed expenses Income Actual Results Variances 135 141 56 64 Dok 28,560 33,600 157,830 167,530 $ 176,850 $ 183,300 $ 6,450 P 5,040 P 9,700 U Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. $ 47,580 $ 49,370 $ 1,790 F BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance Favorable…
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $171,170 budgeted expenses include $114,000 in variable expenses for desks and $19,170 in variable expenses for chairs, as well as $38,000 of fixed expenses. Actual fixed expenses total $39,600. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 152 71 For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Actual Results 158 79 Variances. $ 199,120 41,890 $ 205,400 47,795 179,780 $ 6,280 F 5,905 F 8,610 U 171,170 $ 69,840 $ 73,415 $ 3,575 F Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results ENG
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $172,880 budgeted expenses include $122.180 in variable expenses for desks and $20,700 in variable expenses for chairs, as well as $30,000 of fixed expenses Actual fixed expenses total $31,400. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income Fixed Budget 149 69 For Quarter Ended June 30 2 Dock sales Actual Results 155 77 $ 206,150 $ 199,660 41,400 47,355 172,880 181,918 $ 68,180 $ 71,595 Variances $ 6,490 F 5,955 F 9,030 U $ 3,415 F Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance Favorable/Unfavorable
Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $159,370 budgeted expenses include $106,650 in variable expenses for desks and $18,720 in variable expenses for chairs, as well as $34,000 fixed expenses. The actual expenses include $35,400 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales. Chair sales Total expenses Income from operations Desk sales Chair sales Variable expenses Contribution margin Fixed Budget Actual Results Variances 135 72 $170, 100 42,480 159,370 $ 53,210 Fixed expenses income from operations 141 80 $176,250 48,400 168,050 $ 56,600 Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. $6,150 F 5,920 F 8,680 U $3,390 F BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results Variance Fav/Unt. Unfavorable Favorable…
Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $166,660 budgeted expenses include $110,200 in variable expenses for desks and $20,460 in variable expenses for chairs, as well as $36,000 fixed expenses. The actual expenses include $37,300 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Desk sales Chair sales Variable expenses Contribution margin Fixed Budget Actual Results Variances 145 66 Fixed expenses Income from operations $ 194,300 35,640 166,660 $ 63,280 151 74 $200,830 41,070 175,330 $ 66,570 Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results $6,530 F 5,430 F 8,670 U $3,290 F Variance Fav./Unf. Unfavorable Favorable…
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $183,820 budgeted expenses include $125,800 in variable expenses for desks and $18,020 in variable expenses for chairs, as well as $40,000 of fixed expenses. Actual fixed expenses total $41,000. Fixed Budget Actual Results Variances Desk sales (in units) 148 154 Chair sales Total expenses Income Chair sales (in units) Desk sales $ 192,400 31,270 183,820 53 61 $ 198,660 36,905 193,110 $ 6,260 F 5,635 F 9,290 U $ 39,850 $ 42,455 $ 2,605 F 13 Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Quarter Ended June 30 BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance Favorable/Unfavorable Desk sales Chair sales Variable expenses Contribution margin Fixed expenses…
Sheffield Company combines its operating expenses for budget purposes in a selling and administrative expenses budget. For the first six months of 2022, the following data are available: 1. 2 3. 4 Sales: 19,800 units in quarter 1: 21.300 units in quarter 2 D Variable costs per dollar of sales: sales commissions 5%; delivery expense 2%; and advertising 4% Fixed costs per quarter: sales salaries $10,700; office salaries $8,300: depreciation $4,300; insurance $1,300: utilities $800; and repairs expense $600 Unit selling price: $19 Prepare a selling and administrative expenses budget by quarters for the first six months of 2022 SHEFFIELD COMPANY Selling and Administrative Expenses Budget For the Six Months Ending June 30, 2022 2 Total
Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $169.380 budgeted expenses include $120,000 in variable expenses for desks and $19,380 in variable expenses for chairs, as well as $30,000 of fixed expenses. Actual fixed expenses total S31,500. Actual Fixed Budget Results Variances Desk sales (in units) 150 156 Chair sales (in units) Desk sales Chair sales Total expenses 57 65 $ 189,000 30,210 169, 380 $ 49,830 $ 6,000 F 5,215 F $ 195,000 35,425 178,820 $ 51,605 9,440 U $ 1,775 Income Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Fixed expenses Flexible Budget Actual Results Variance FavorableiUntavorable…
The actual selling expenses incurred in March 2020 by Fallon Company are as follows. Variable Expenses Fixed Expenses Sales commissions $11,180 Sales salaries $35,500 Advertising 10,530 Depreciation 7,400 Travel 6,920 Insurance 1,100 Delivery 3,580 (b) Prepare a flexible budget performance report, assuming that March sales were $180,500. (List variable costs before fixed costs.) FALLON COMPANYSelling Expense Flexible Budget ReportFor the Month Ended March 31, 2020 Difference Budget Actual FavorableUnfavorableNeither Favorablenor Unfavorable Select an opening flexible budget report item AdvertisingDepreciationDeliveryFixed ExpensesInsuranceSalesSales CommissionsSales SalariesTotal ExpensesTotal Fixed ExpensesTotal Variable ExpensesTravelVariable Expenses $Enter a dollar amount $Enter a dollar amount Select an opening name for…
The actual selling expenses incurred in March 2022 by Wildhorse Company are as follows. Fixed Expenses Sales salaries $35,300 Depreciation 7,000 Insurance 1,800 Variable Expenses Sales commissions $12,741 Advertising 10,258 6,772 3,446 Travel Delivery (a) Prepare a flexible budget performance report for March, assuming that March sales were $169,300. Variable costs and their percentage relationship to sales are sales commissions 7%, advertising 6%, traveling 4%, and delivery 2%, Fixed selling expenses will consist of sales salaries $35,300, Depreciation on delivery equipment $7,000, and insurance on delivery equipment $1,800, (List variable costs before fixed costs) preto, a delivery du hent 57000 and nuance on de (b) Prepare a flexible budget performance report, assuming that March sales were $176,800 (Lit variable costs before foxed cosE Budget WILDHORSE COMPANY Selling Expense Flexible Budget Report For the Month Ended March 31, 2022 Actual Difference Favorable Unfavorabl Neither…