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3 Final ques

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1.value;1.00 points;Mesa Company's fixed budget for the first quarter of calendar year 2011 reveals the following.;Sales (16,500 units) $ 3,366,000;Cost of goods sold;Direct materials $ 392,205;Direct labor 700,755;Production supplies 435,105;Plant manager salary 192,205 1,720,270;Gross profit 1,645,730;Selling expenses;Sales commissions 132,165;Packaging 263,010;Advertising 100,000 495,175;Administrative expenses;Administrative salaries 242,205;Depreciation?office equip. 212,205;Insurance 182,205;Office rent 192,205 828,820;Income from operations $ 321,735;Prepare flexible budgets that show variable costs per unit, fixed costs, and three different flexible budgets for sales volumes of 14,500, 16,500, and 19,500 units. (Input all amounts as positive values. Round your "Variable amount per unit" to 2 decimal places. Omit the "$" sign in your response.);MESA COMPANY;Flexible Budgets;For Quarter Ended March 31, 2011;Flexible Budget;Variable;Amount;per Unit Total;Fixed;Cost Flexible;Budget for;Unit Sales;of 14,500 Flexible;Budget for;Unit Sales;of 16,500 Flexible;Budget for;Unit Sales;of 19,500;$ $ $ $;Variable costs;Total variable costs;$;Fixed costs;$;Total fixed costs $;$ $ $;2.value;1.00 points;Cimarron Company?s fixed budget performance report for July follows. The $630,000 budgeted expenses include $592,200 variable expenses and $37,800 fixed expenses. Actual expenses include $49,800 fixed expenses.;Fixed Budget Actual Results Variances;Sales (in units) 8,400 10,800;Sales (in dollars) $ 840,000 $ 1,080,000 $ 240,000 F;Total expenses 630,000 756,000 126,000 U;Income from operations $ 210,000 $ 324,000 $ 114,000 F;Prepare a flexible budget performance report showing any variances between budgeted results and actual results. List fixed and variable expenses separately. (Input all amounts as a positive value. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Leave no cells blank - be certain to enter "0" wherever required. Do not round your intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.);CIMARRON COMPANY;Flexible Budget Performance Report;For Month Ended July 31;Flexible Budget Actual Results Variances;$ $ $;$ $ $;3.value;1.00 points;Daytec Company?s fixed budget performance report for June follows. The $587,000 budgeted expenses include $400,000 variable expenses and $187,000 fixed expenses. Actual expenses include $177,000 fixed expenses.;Fixed Budget Actual Results Variances;Sales (in units) 8,000 6,900;Sales (in dollars) $ 640,000 $ 621,000 $ 19,000 U;Total expenses 587,000 549,000 38,000 F;Income from operations $ 53,000 $ 72,000 $ 19,000 F;Prepare a flexible budget performance report that showing any variances between budgeted and actual results. List fixed and variable expenses separately. (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. Do not round intermediate calculations and round final answers to the nearest dollar amount. Omit the "$" sign in your response.);DAYTEC COMPANY;Flexible Budget Performance Report;For Month Ended June 30;Flexible Budget Actual Results Variances;$ $ $;$ $ $;Attachments;20_Final_ques.pdf (5013.77 KB)

 

Paper#30563 | Written in 18-Jul-2015

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