Nottingham Forest Products reports the following information concerning operations for the most recent month:Actual (basedMaster Budget(based onon actual sales budgeted salesof 4,800 units)$ 228,700of 4,000units)$ 188,000Sales revenueLessManufacturing costs.Direct labor50,30239,00031,52027,20016,60813,1007,8056,2006,500MaterialsVariable overheadMarketingAdministrativeTotal variable costs$ 113,450Contribution margin$ 115,250Fixed costsManufacturingMarketingAdministrative7,21538,93014,8609,510$ 92,000$ 96,00037,40012,20010,400$ 60,000Total fixed costs$ 63,300$ 51,950$ 36,000Operating profitsThere are no inventories.

Solution :-1.Que :-Nottingham Forest ProductsFlexible BudgetParticularsWorkingsAmount Sales…

Answered: Nottingham Forest Products reports the…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The following information was drawn from the accounting records of Ashton Company. Budgeted Actual Sales $ 10,000 $ 13,000 Cost of Goods Sold (5,000 ) (6,600 ) Gross Margin 5,000 6,400 Variable Cost (2,000 ) (2,700 ) Fixed Cost (2,500 ) (1,900 ) Net Income $ 500 $ 1,800 Based on this information Ashton Company has a Multiple Choice $1,300 favorable sales variance $1,300 unfavorable sales variance $3,000 favorable sales variance $3,000 unfavorable sales variance
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The following are the budgeted and actual income statements for Tucan Ltd, a manufacturing business, for the month of January: Budget Output (production and sales) Sales revenue Raw materials Labour Fixed overheads Operating profit Output (production and sales) Sales revenue Raw materials Labour Fixed overheads 5,000 units Flexed budget £ 500,000 200,000 150,000 70,000 80,000 £ units Actual 6,000 units £ 630,000 270,000 150,000 78,000 132,000 C

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