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Mesa Company's fixed budget for the first quarter of calendar year 2011 reveals the following.

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Question;1.value:1.00 pointsMesa 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 "$" sign in your response.)MESA COMPANYFlexible BudgetsFor Quarter Ended March 31, 2011Flexible Budget VariableAmountper Unit TotalFixedCost FlexibleBudget forUnit Salesof 14,500 FlexibleBudget forUnit Salesof 16,500 FlexibleBudget forUnit Salesof 19,500$ $ $ $Variable costs Total variable costs $Fixed costs $Total fixed costs $$ $ $2.value:1.00 pointsCimarron Company?s fixed budget performance report for July follows. The $630,000 budgeted expenses include $592,200 variable expenses and $37,800 fixed expenses. Actual expenses include $49,800 fixed expenses.Fixed Budget Actual Results VariancesSales (in units) 8,400 10,800 Sales (in dollars) $ 840,000 $ 1,080,000 $ 240,000 FTotal expenses 630,000 756,000 126,000 UIncome from operations $ 210,000 $ 324,000 $ 114,000 FPrepare a flexible budget performance report showing any variances between budgeted results and actual results. List fixed and variable expenses separately. (Input all amounts as a positive value. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Leave no cells blank - be certain to enter "0" wherever required. Do not round your intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.)CIMARRON COMPANYFlexible Budget Performance ReportFor Month Ended July 31Flexible Budget Actual Results Variances $ $ $$ $ $3.value:1.00 pointsDaytec 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 VariancesSales (in units) 8,000 6,900 Sales (in dollars) $ 640,000 $ 621,000 $ 19,000 UTotal expenses 587,000 549,000 38,000 FIncome from operations $ 53,000 $ 72,000 $ 19,000 FPrepare 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 COMPANYFlexible Budget Performance ReportFor Month Ended June 30Flexible Budget Actual Results Variances $ $ $

 

Paper#38187 | Written in 18-Jul-2015

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