Cicchetti Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of December:   Cicchetti Corporation Comparison of  Actual Results to Planning Budget For the Month Ended December 31   Actual Results Planning Budget  Variances     Customers served   37,000     31,000             Revenue ($4.8q) $ 178,550   $ 148,800   $ 29,750   F   Expenses:                       Wages and salaries ($37,400 + $1.6q)   100,000     87,000     13,000   U   Supplies ($0.9q)   32,750     27,900     4,850   U   Insurance ($14,400)   14,800     14,400     400   U   Miscellaneous expense ($7,400 + $0.4q)   24,100     19,800     4,300   U   Total expense   171,650     149,100     22,550   U   Net operating income $ 6,900   $ -300   $ 7,200   F     Required: Prepare the company's flexible budget performance report for December. Select each variance as favorable (F), unfavorable (U) or "None".

Please do not give solution in image format thanku

None

6

Graded HW i Fixed Budget For Year Ended December 31 $ Sales 3,171,000 Costs Direct materials 996,600 Direct labor 226,500 Sales staff commissions 60,400 Depreciation-Machinery 295,000 Supervisory salaries 203,000 Shipping 226,500 Sales staff salaries (fixed annual 250,000 amount) Administrative salaries 556,450 Depreciation-Office equipment 198,000 Income $ 158,550 Saved Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible…

None

am. 103.

1

Budgeted Income Statement and Balance Sheet As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 20Y9, the following tentative trial balance as of December 31, 20Y8, is prepared by the Accounting Department of Regina Soap Co.: Cash $102,200     Accounts Receivable 173,700     Finished Goods 36,500     Work in Process 24,300     Materials 40,000     Prepaid Expenses 3,000     Plant and Equipment 470,100     Accumulated Depreciation—Plant and Equipment     $202,100 Accounts Payable     116,100 Common Stock, $10 par     350,000 Retained Earnings     181,600   $849,800   $849,800 Factory output and sales for 20Y9 are expected to total 23,000 units of product, which are to be sold at $90 per unit. The quantities and costs of the inventories at December 31, 20Y9, are expected to remain unchanged from the balances at the beginning of the year. Budget estimates of manufacturing costs and operating…

3