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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. Total fixed costs. Income Fixed Budget For Month Ended July 31 Variable Amount per Unit $ 100 35 15 و 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 Actual Results NINA COMPANY Flexible Budget Performance Report Flexible Budget 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 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.) Variances 29,240 81,130 500,030 $ 262,580 70,670 43,160 10,390 7,660 30,840 162,720 $ 99,860 Favorable/Unfavorable

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. Total fixed costs. Income Fixed Budget For Month Ended July 31 Variable Amount per Unit $ 100 35 15 و 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 Actual Results NINA COMPANY Flexible Budget Performance Report Flexible Budget 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 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.) Variances 29,240 81,130 500,030 $ 262,580 70,670 43,160 10,390 7,660 30,840 162,720 $ 99,860 Favorable/Unfavorable

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...
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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 Total fixed costs Income Fixed Budget Variable Amount per Unit $ 100 For Month Ended July 31 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 Actual Results NINA COMPANY Flexible Budget Performance Report Flexible Budget 70,670 41,930 10,390 7,660 33,900 164,550 $ 107,050 Actual Results (7,460 units) $ 762,610 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.) 276,160 113,500 29,240 81,130 500,030 $ 262,580 Variances 70,670 43,160 10,390 7,660 30,840 162,720 $ 99,868 Favorable/Unfavorable.
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 Total fixed costs Income Fixed Budget Variable Amount per Unit $ 100 For Month Ended July 31 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 Actual Results NINA COMPANY Flexible Budget Performance Report Flexible Budget 70,670 41,930 10,390 7,660 33,900 164,550 $ 107,050 Actual Results (7,460 units) $ 762,610 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.) 276,160 113,500 29,240 81,130 500,030 $ 262,580 Variances 70,670 43,160 10,390 7,660 30,840 162,720 $ 99,868 Favorable/Unfavorable.
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