Flexible Budgets, Direct-Cost Variances, and Management Control Flexible Budget 2 Sweeney Enterprises manufactures tires

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Flexible Budgets Direct Cost Variances And Management Control Flexible Budget 2 Sweeney Enterprises Manufactures Tires 1 (73.32 KiB) Viewed 23 times

Flexible Budgets, Direct-Cost Variances, and Management Control Flexible Budget 2 Sweeney Enterprises manufactures tires for the Formulai motor racing circult. The company's budgeted and actual amounts are as follows: Budgeted for August 2017 Units to manufacture and sell 3,550 Variable cost per tire $72 Total fixed costs $54,500 0 Budgeted selling price per tire $115 1 Actual Results for August 2017 13 Units manufactured and sold 3,500 14 Selling price per tire $116 15 Total variable costs $280,000 16 Total fixed costs $51,000 17 18 Use the blue shaded areas for inputs. 19 Always use cell references and formulas where appropriate to receive full credit. 20 21 Requirement 22 Prepare a performance report that uses a flexible budget and a static budget. 23 Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted. Use the ABS function when calculating variances, and use the drop down selections for F (favorable) or (unfavorable) when describing the variances. For variances with a zero amount, make sure to enter the result of "0" in the 25 appropriate cell and leave the drop-down to identify the varlance as either For U b. 24 C. 26 28 27 Prepare a performance report that uses a flexible budget and a static budget. a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted. b. Use the ABS function when calculating variances, and use the drop down selections for F 29 (favorable) or (unfavorable) when describing the variances. c. For variances with a zero amount, make sure to enter the result of - in the appropriate cell and 30 leave the drop-down to identify the variance as either For U blank. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste 31 from the Instruction tab you will be marked wrong.) 32 Actual Results Flexible-Budget Variance Flexible Budget Sales-Volume Variances Static Budget *Variances should be presente 23 34 Units sold 35 Revenues 36 Variable costs 37 Contribution margin 38 Fixed costs 29 Operating income 41