Exercise 9-15 (Algo) Flexible Budgets and Revenue and Spending Variances [LO9-1, LO9-3]Via Gelato, a popular neighborhood gelato shop, provided the following cost formulas and actual results for the month of June:FixedVariableElement per Element perActual TotalMonthLiterfor JuneRevenue$ 23.00$ 140,540Raw materials$ 5.75$ 37,030WagesUtilities$ 6,700$ 2.50$ 21,800$ 2,730$ 1.30$ 11,600CESRent$ 3,700Insurance$ 2,450Miscellaneous$ 7601.45$ 3,700$ 2,450$9,390While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example,wages should be $6,700 plus $2.50 per liter of gelato sold and the actual wages for June were $21,800. Via Gelato expected to sell6,100 liters in June but actually sold 6,300 liters.Required:Calculate Via Gelato's revenue and spending variances for June.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.

Step 1:The revenue variance is the difference between actual revenue and revenue from a flexible…

Answered: Exercise 9-15 (Algo) Flexible Budgets…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter23: Flexible Budgeting (flexbud)

Section: Chapter Questions

Problem 4R

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TB MC Qu. 16-41 (Algo) James Manufacturing has the following... James Manufacturing has the following information available for July: Actual Results Flexible Budget Variance Flexible Budget Sales Activity Variance Master Budget Units 15,000 ? 2,000 U ? Sales revenue ? $ 16,000 F ? ? ? Less: Variable manufacturing costs $ 92,750 $ 104,000 ? $ 145,000 Variable marketing and administrative ? $ 2,750 U ? $ 3,500 F $ 50,000 Contribution margin $ 69,000 ? ? $ 8,000 U ? What was James’s flexible budget sales revenue for July? Multiple Choice $161,000 $195,000 $211,000 $221,000
Exercise 9-15 (Algo) Flexible Budgets and Revenue and Spending Variances [LO9-1, LO9-3] Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous Revenue Expenses: While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example, wages should be $7,400 plus $3.20 per liter of gelato sold and the actual wages for June were $28,400. Via Gelato expected to sell 6,400 liters in June, but actually sold 6,600 liters. Raw materials Fixed Element per Month Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Via Gelato Revenue and Spending Variances For the Month Ended June 30…
Performance Evaluation; Ch CABILIDE 1o (Migu, riepanny envie vuugel pervane repicuri Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Sales (units produced and sold) Sales (in dollars) Variable costs Fixed costs For Month Ended May 31 Sales Variable costs Contribution margin Fixed costs Income Fixed Budget 1,240 $ 500 per unit $ 200 per unit $ 131,000 LEWIS COMPANY Flexible Budget Performance Report Flexible Budget Actual Results Variances (1,440 units) (1.440 units)
Help Save & Exit AA company provided the following information from its flexible budget performance report: Actual Results 52 Flexible Budget Master Budget Trips (q) 2. Expenses: Maintenance expense ($4,000 + $88.00g) $8,440 $8,400 What is the spending variance for maintenance expense? Multiple Choice $136 F $136 U $176 U Nex 11 of 23 < Prev
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Exercise 9-7 (Static) Flexible Budgets and Activity Variances [LO9-1, LO9-2] Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses per Month Repair-Hour $ 16.30 $8.60 $ 0.40 $ 1.70 $ 23,200 $ 1,600 $ 6,400 $ 3,480 $ 4,500 Rent Administrative expenses $ 0.80 For example, wages and salaries should be $23,200 plus $16.30 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $44.50 per repair-hour. ces Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Jake's Roof Repair ....*.·.... RE ..... ........
Auto Lavage is a Canadian company that owns and operates a large automatic carwash facility near Quebec. The following table provides data concerning the company's expected costs: Fixed Cost Cost per Car Washed $0.90 per Month Cleaning supplies Electricity Maintenance $ 3,450 0.30 0.50 6,600 10,200 4,000 3,740 Wages and salaries Depreciation 0.60 Rent Administrative expenses 0.07 For example, electricity costs are $3,450 per month plus $0.30 per car washed. The company expects to wash 9,900 cars in October and to collect an average of $7.80 per car washed. Auto Lavage's actual level of activity was 10,000 cars. The actual revenues and expenses for October are given below: Auto Lavage Income Statement For the Month Ended October 31 10,000 $79,900 Actual cars washed Sales Variable expenses: Cleaning supplies Electricity 9,850 3,082 4,525 6,250 Maintenance Wages and salaries Administrative Fixed expenses: Electricity Wages and salaries Depreciation 790 3,540 6,600 10,200 Rent 4,000…
ve & Exit Sub Check my work Exercise 21-6 (Algo) Preparing flexible budget performance report LO P1 Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Fixed Budget 1,400 Actual Results 1,600 $ 1,300 per unit $ 2,126,000 Sales (units produced and sold) Sales (in dollars) Variable costs Fixed costs $520 per unit $ 863,000 $ 142,000 LEWIS COMPANY Flexible Budget Performance Report For Month Ended May 31 Favorable/Unfavorable Sales Favorable Variable costs Unfavorable Favorable Contribution margin Fixed costs Income Favorable Favorable 4 Mc Graw Hill Type here to search $ 155,000 Flexible Budget Actual Results (1,600 units) (1,600 units)
Chapter 9 Canvas Homework - SHOW YOUR WORK FOR CREDII Multiple Cost Drivers: Salamone's Pizza is a neighborhood pizzeria that has an area for in-store dining as well as offering take-out and free home delivery services. The pizzeria's owner has determined that the shop has two major cost drivers the number of pizzas sold and the number of deliveries made. The pizzeria's cost formulas appear below. Flxed Coat per Month Cost per Piza Cost per Dellvery $ 4.00 Plzza Ingredlente Kitchen staff $ 6,050 S 880 Utilitles $ 1.00 Dellvery person Dellvery vehicile $2.80 $2.20 S 700 S 456 $ 2,010 $ 800 Equipment depreclation Rent Mlscellaneous $0.20 In November, the pizzeria budgeted for 1,770 pizzas at an average selling price of $14 per pizza and for 210 deliveries. Data conceming the pizzeria's actual results in November were as follows: Actual Resulte 1,870 190 Plzzas Dellverles $ 28,800 $ 8,470 $ 5,990 $ 920 $ 532 $ 1,000 $ 458 $ 2,010 $ 832 Revenue Plzza Ingredlents Kitchen ataff Utilities…
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Magika Enterprises has prepared the following budget for the month of November: Selling Price Variable Cost per unit per unit Unit Sales Product A ₱ 10 ₱ 4 15,000 Product B ₱ 15 ₱ 8 20,000 Product C ₱ 18 ₱ 8 5,000 If the Fixed Costs amount to ₱150,000, the break-even point in SALES amount to ₱________________. For uniformity of answers, for interim calculations, use 5 decimal places and round-off the final answer to a whole number.
A company provided the following information from its flexible budget performance report: Actual Flexible Master Results Budget Budget Trips (q) 52 Expenses: Maintenance expense ($4,000 + $88.00g) $8,495 ? $8,400 What is the spending variance for maintenance expense? Multiple Choice None of the answers is correct. $176 U $81 U $81 F

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