Homework Help is Here – Start Your Trial Now!
Business
Accounting
Exercise 21-5 (Algo) Preparing flexible budget performal Nina Company prepared the following fixed budget for July using 7,760 units for budgeted sales. Actual sales were 7,460 units actual costs are shown below. For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs Depreciation-Machinery Supervisor salary Insurance Depreciation Office equipment Administrative salaries Total fixed costs Fixed Budget Variable Amount per Unit $ 100 35 15 4 11 65 $ 35 Total Fixed Cost $ 70,670 41,930 10,390 7,660 33,900 $164,550 Fixed Budget (7,760 units) $ 776,000 271,600 116,400 31,040 85,360 504,400 $ 271,600 70,670 41,930 10,390 7,660 33,900 164,550 Actual Results (7,460 units) $ 762,610 276,160 113,500 29,240 81,130 500,030 $ 262,580 70,670 43,160 10,390 7,660 30,840 162.720

Exercise 21-5 (Algo) Preparing flexible budget performal Nina Company prepared the following fixed budget for July using 7,760 units for budgeted sales. Actual sales were 7,460 units actual costs are shown below. For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs Depreciation-Machinery Supervisor salary Insurance Depreciation Office equipment Administrative salaries Total fixed costs Fixed Budget Variable Amount per Unit $ 100 35 15 4 11 65 $ 35 Total Fixed Cost $ 70,670 41,930 10,390 7,660 33,900 $164,550 Fixed Budget (7,760 units) $ 776,000 271,600 116,400 31,040 85,360 504,400 $ 271,600 70,670 41,930 10,390 7,660 33,900 164,550 Actual Results (7,460 units) $ 762,610 276,160 113,500 29,240 81,130 500,030 $ 262,580 70,670 43,160 10,390 7,660 30,840 162.720

Managerial Accounting: The Cornerstone of Business Decision-Making
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...
See similar textbooks
icon
Related questions
Question
Exercise 21-5 (Algo) Preparing flexible budget performance report LO P1 Nina Company prepared the following fixed budget for July using 7,760 units for budgeted sales. Actual sales were 7,460 units and actual costs are shown below. For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs. Depreciation-Machinery Supervisor salary Insurance Depreciation Office equipment Administrative salaries i Total fixed costs Income Fixed Budget Variable Amount per Unit $ 100 35 55515 4 11 65 $ 35 Total Fixed Cost $ 70,670 41,930 10,390 7,660 33,900 $164,550 Fixed Budget (7,760 units) $ 776,000 271,600 116,400 31,040 85,360 504,400 $ 271,600 70,670 41,930 10,390 7,660 33,900 164,550 $ 107,050 Actual Results (7,460 units) $ 762,610 276,160 113,500 29,240 81,130 500,030 $ 262,580 70,670 43,160 10,390 7,660 30,840 162,720 $ 99,860 Prepare a flexible budget performance report for July at activity level of 7,460 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)
Transcribed Image Text:Exercise 21-5 (Algo) Preparing flexible budget performance report LO P1 Nina Company prepared the following fixed budget for July using 7,760 units for budgeted sales. Actual sales were 7,460 units and actual costs are shown below. For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total variable costs Contribution margin Fixed costs. Depreciation-Machinery Supervisor salary Insurance Depreciation Office equipment Administrative salaries i Total fixed costs Income Fixed Budget Variable Amount per Unit $ 100 35 55515 4 11 65 $ 35 Total Fixed Cost $ 70,670 41,930 10,390 7,660 33,900 $164,550 Fixed Budget (7,760 units) $ 776,000 271,600 116,400 31,040 85,360 504,400 $ 271,600 70,670 41,930 10,390 7,660 33,900 164,550 $ 107,050 Actual Results (7,460 units) $ 762,610 276,160 113,500 29,240 81,130 500,030 $ 262,580 70,670 43,160 10,390 7,660 30,840 162,720 $ 99,860 Prepare a flexible budget performance report for July at activity level of 7,460 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)
Prepare a flexible budget performance report for July at activity level of 7,460 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total Variable Costs Contribution margin Fixed costs Depreciation Machinery Supervisory salary Insurance Depreciation Office equipment Administrative salaries Total Fixed Costs Income NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,460 units) 0 Actual Results. (7,460 units) 0 0 Variances Favorable/Unfavorable
Transcribed Image Text:Prepare a flexible budget performance report for July at activity level of 7,460 units. Show variances between budgeted and actual amounts. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended July 31 Sales Variable costs Direct materials Direct labor Indirect materials Sales commissions Total Variable Costs Contribution margin Fixed costs Depreciation Machinery Supervisory salary Insurance Depreciation Office equipment Administrative salaries Total Fixed Costs Income NINA COMPANY Flexible Budget Performance Report Flexible Budget (7,460 units) 0 Actual Results. (7,460 units) 0 0 Variances Favorable/Unfavorable
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost control
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS