Top managers of Juda Industries predicted 2025 sales of 14,500 units of its product at a unit price of $10.00. Actual sales for the year were 14,300 units at $13.00 each. Variable costs were budgeted at $3.20 per unit, and actual variable costs were $3.30 per unit. Actual fixed costsof $49,000 exceeded budgeted fixed costs by $2,000.Prepare Juda Industries' flexible budget performance report. What variance contributed most to the year's favorable results? What caused this variance?Prepare a flexible budget performance report for the year. First, complete the flexible budget performance report through the contribution margin line, then complete the report through the operating income line. Finally, compute the total variances. (Enter a 0 for any zero balances.Label the variance as favorable (F) or unfavorable (U), in the input field after the amount you enter. For any $0 variances, leave the Favorable (F)/Unfavorable (U) input field blank.)Juda IndustriesFlexible Budget Performance ReportFor the Year Ended December 31, 2025UnitsSales RevenueVariable CostsContribution Margin12345(1) - (3)(3)-(5)BudgetAmountsFlexibleActualPer UnitResultsBudgetVarianceFlexibleBudgetSalesVolumeVarianceStaticBudget

The flexible budget is prepared for actual production level on the basis of the standard rates. The…

Answered: lop managers of Juda Industries…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Required Information [The following information applies to the questions displayed below.] The fixed budget for 21,300 units of production shows sales of $489,900; variable costs of $63,900; and fixed costs of $144,000. The company's actual sales were 27,300 units at $580,900. Actual variable costs were $113,400 and actual fixed costs were $138,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable
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Please help me. Thankyou.
Required information [The following information applies to the questions displayed below.] The fixed budget for 21,600 units of production shows sales of $583,200; variable costs of $64,800; and fixed costs of $143,000. The company's actual sales were 26,900 units at $679,300. Actual variable costs were $113,300 and actual fixed costs were $132,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Sales Variable costs Contribution margin Fixed costs Income X Answer is complete but not entirely correct. Flexible Budget Performance Report Flexible Actual Budget Results $ $ 645,600 80,700 564,900 143,000 421,900 Variances $ 679,300 $ (33,700) 113,300 (32,600) 566,000 (63,500) 132,000 11,000 $ 434,000 $ (12,100) Favorable/ Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable
Required information [The following information applies to the questions displayed below.] The fixed budget for 20,600 units of production shows sales of $597,400; variable costs of $61,800; and fixed costs of $143,000. The company's actual sales were 26,500 units at $720,500. Actual variable costs were $113,100 and actual fixed costs were $133,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable

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