- Assume That In October 2022 The Schmidt Machinery Company Exhibit 14 1 Manufactured And Sold 980 Units For 750 Each 1 (76.08 KiB) Viewed 85 times
- Assume That In October 2022 The Schmidt Machinery Company Exhibit 14 1 Manufactured And Sold 980 Units For 750 Each 2 (69.83 KiB) Viewed 85 times
- Assume That In October 2022 The Schmidt Machinery Company Exhibit 14 1 Manufactured And Sold 980 Units For 750 Each 3 (75.34 KiB) Viewed 85 times
- Assume That In October 2022 The Schmidt Machinery Company Exhibit 14 1 Manufactured And Sold 980 Units For 750 Each 4 (50.29 KiB) Viewed 85 times
- Assume That In October 2022 The Schmidt Machinery Company Exhibit 14 1 Manufactured And Sold 980 Units For 750 Each 5 (50.29 KiB) Viewed 85 times
- Assume That In October 2022 The Schmidt Machinery Company Exhibit 14 1 Manufactured And Sold 980 Units For 750 Each 6 (44.44 KiB) Viewed 85 times
- Assume That In October 2022 The Schmidt Machinery Company Exhibit 14 1 Manufactured And Sold 980 Units For 750 Each 7 (49 KiB) Viewed 85 times
- Assume That In October 2022 The Schmidt Machinery Company Exhibit 14 1 Manufactured And Sold 980 Units For 750 Each 8 (56.53 KiB) Viewed 85 times
- Assume That In October 2022 The Schmidt Machinery Company Exhibit 14 1 Manufactured And Sold 980 Units For 750 Each 9 (56.53 KiB) Viewed 85 times
Assume that in October 2022 the Schmidt Machinery Company (Exhibit 14.1) manufactured and sold 980 units for $750 each. During this month, the company incurred $529,200 total variable costs and $181,300 total fixed costs. The master budget data for the month are as given in Exhibit 14.1 Required: 1. Prepare a flexible budget for the production and sale of 980 units. 2. Compute for October 2022 a. The sales volume variance, in terms of operating income. Indicate whether this variance was favorable or unfavorable b. The sales volume variance, in terms of contribution margin. Indicate whether this variance was favorable or unfavorable. 3. Compute for October 2022 a. The total flexible budget variance. Indicate whether this variance was favorable or unfavorable. b. The total variable cost flexible budget variance Indicate whether this variance was favorable or unfavorable c. The total fixed cost flexible budget variance. Indicate whether this variance was favorable or unfavorable. d. The selling price variance Indicate whether this variance was favorable or unfavorable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute for October 20221 a. The sales volume variance, in terms of operating income. Indicate whether this variance was favorable or unfavorable. b. The sales volume variance, in terms of contribution margin. Indicate whether this variance was favorable or unfavorable. Show less Sales Volume Variance Operating income Contribution margin < Required 1 Required 3 >
Assume that in October 2022 the Schmidt Machinery Company Exhibit 14.0 manufactured and sold 980 units for $750 each. During this month, the company incurred $529,200 total variable costs and $131,300 total fixed costs. The master budget data for the month are as given in Exhibit 14.1. Required: 1. Prepare a flexible budget for the production and sale of 980 units. 2. Compute for October 2022 a. The sales volume variance, in terms of operating income. Indicate whether this variance was favorable or unfavorable, b. The sales volume variance, in terms of contribution margin. Indicate whether this variance was favorable or unfavorable 3. Compute for October 2022 a. The total flexible budget variance. Indicate whether this variance was favorable or unfavorable b. The total variable cost flexible budget variance. Indicate whether this variance was favorable or unfavorable. c. The total fixed cost flexible budget variance Indicate whether this variance was favorable or unfavorable. d. The selling price variance. Indicate whether this variance was favorable or unfavorable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute for October 2022 a. The total flexible budget variance. Indicate whether this variance was favorable or unfavorable. b. The total variable cost flexible budget variance. Indicate whether this variance was favorable or unfavorable. c. The total fixed cost flexible budget variance. Indicate whether this variance was favorable or unfavorable, d. The selling price variance Indicate whether this variance was favorable or unfavorable Show less a The total flexible budget variance b. The total variable cost flexible budget variance The total fixed cost flexible budget variance d. The selling price variance < Required 2 Roti
The following information is available for Brownstone Products Company for the month of July. Master Actual Units Budget 3.900 Sales revenue 3,200 $ 55,800 $ 60,000 Variable manufacturing costs 10,900 16,000 Fixed manufacturing costs 12,800 13,00 Variable selling and administrative expenses 7,400 8,000 Fixed selling and administrative expenses 8,800 10,450 Required: 1. What was the master budget variance for July? Was this variance favorable or unfavorable? 2 Compute the Júly sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. 4. Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two Output levels: a. 3.940 units b. 4,340 units Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. (Indicate the effect of each variance by selecting "F" for Favorable. "U" for Unfavorable, and "None" for no effect (ie, are variance):) Fiedle Bage Varianne Sites Volume Variance Contribution margin Operating income < Required 1 Required 4 >
The following information is available for Brownstone Products Company for the month of July Master Units Actual Budget Sales revenue 3,900 3,200 $ 55,800 Variable manufacturing costs $ 60,00 Fixed manufacturing costs 10,900 16,000 12,800 Variable selling and administrative expenses 13, 7,400 Fixed selling and administrative expenses 8,800 18,450 Required: 1 What was the master budget variance for July? Was this variance favorable or unfavorable? 2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating Income 4. Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels a. 3,940 units b.4.340 units Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 What was the master budget variance for July? Was this variance favorable or unfavorable? (Indicate the effect of each vanance by selecting "F" for Favorable,"u" for Unfavorable, and "None for no effect (..zero variance).) Mantan Required 2
The following information is available for Brownstone Products Company for the month of July Master Units Actual Budget Sales revenue 3,900 3,200 Variable manufacturing costs $ 55,se 350,000 Fixed manufacturing costs 10,900 15,000 12.00 Variable selling and administrative expenses 13,30 Fixed selling and administrative expenses 7,400 8,00 8,00 20,450 Required: 1. What was the master budget variance for July? Was this variance favorable or unfavorable? 2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. 4. Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels: a 3,940 units b.4.340 units Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels a. 3.940 units. b. 4,340 units Snow Flexible budget ble 3200 50.000 Units Sales Variable costs Manufacturing Selling and administrative Total variable costs Contribution margin Fund costs Mintturing Selling and distrative Teleco Operating income 0.000 1000 36.000 30.000 w 5 3 3 3 00 1.450 3090 11.700 5 5 05 OS < Required
Comparison of Actual and Budgeted Operating Income Units SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2022 (1) (2) Actual Operating Income Master Budget 780 1,000 $ 639,600 100% S 800,000 100% 350.950 55 450,000 56 $ 288,650 45% $ 350,000 44% 160,650" 25 150,000 19 $ 128,000 20% $ 200,000 25% Sales Variable costs Contribution margin Fixed costs (3) Variances 220 U $ 160,400 U 99,050 F** $ 61,350 U 10,650 U $ 72,000 U Operating income *Udenotes an unfavorable effect on operating income **F denotes a favorable effect on operating income. ***Actual fixed factory overhead cost = $130,650; actual fixed selling and administrative costs = $30,000, Budgeted fixed factory overhead cost = $120,000; budgeted fixed selling and administrative costs - - $30,000