The following information pertains to the month of August. As part of the budgeting process, Alloway’s Fencing Company developed the following static budget for August. Alloway is in the process of preparing the flexible budget and understanding the results. Actual Flexible Static Results Budget Budget Sales volume (in units) 30,000 25,000 ======== Sales revenues $1,500,000 $ $1,250,000 Variable costs 744,000 $ _________ 600,000 Contribution margin 756,000 $ 650,000 Fixed costs 458,000 $ _________ 450,000 Operating profit $ 298,000 $ $ 200,000 The flexible budget will report __________ for variable costs.
Blog
Overhead is applied on the basis of direct labor hours. B…
Overhead is applied on the basis of direct labor hours. Budgeted Direct Labor Hours 6,500 SP for Variable Overhead $1.70 Actual Variable Overhead $12,960 SQ x SP for Variable Overhead $11,560 SQ x SP for Fixed Overhead $23,120 Budgeted Fixed Overhead $22,100 Actual Fixed Overhead $24,000 Actual Direct Labor Hours 6,500 The standard hours allowed for actual units produced (SQ) was:
Projected sales for Taylor, Inc., for next year and beginnin…
Projected sales for Taylor, Inc., for next year and beginning and ending inventory data are as follows:Sales 10,000 unitsBeginning inventory 400 unitsDesired ending inventory 300 unitsAccording to Taylor’s production budget, how many units should be produced?
Fordham Corporation produces a single product. The standard…
Fordham Corporation produces a single product. The standard costs for one unit of its Concourse product are as follows: Direct materials (6 pounds at $0.50 per pound) $3 Direct manufacturing labor (2 hours at $10 per hour) 20 Variable manufacturing overhead (2 hours at $5 per hour) 10 Total 33 33During November Year 2, 4,000 units of Concourse were produced. The costs associated with November operations were as follows: Material purchased (36,000 pounds at $0.60 per pound) $21,600 Material used in production (28,000 pounds) Direct manufacturing labor (8,200 hours at $9.75 per hour) $79,950 Variable manufacturing overhead incurred $41,820 What is the variable overhead efficiency variance for Concourse for November Year 2?
Under the contribution income statement, a company’s contrib…
Under the contribution income statement, a company’s contribution margin will be:
Stephanie’s Bridal Shoppe sells wedding dresses. The average…
Stephanie’s Bridal Shoppe sells wedding dresses. The average selling price of each dress is $1,000, variable costs are $400, and fixed costs are $90,000.How many dresses must the Bridal Shoppe sell to yield after-tax net income of $18,000, assuming the tax rate is 40%?
Write out the RNA complimentary sequence for the small chain…
Write out the RNA complimentary sequence for the small chain of DNA with the sequence: ATCGGCTA
How much energy, in kJ, is released when 150 g propane is bu…
How much energy, in kJ, is released when 150 g propane is burned? C3H8 (g) + 5 O2 (g) → 3 CO2 (g) + 4 H2O (g) + 2201 kJ
Sodium-24 has a half-life of 15 hours. How much time has pa…
Sodium-24 has a half-life of 15 hours. How much time has passed when only 12.5% of the original sample remains? Give an answer without units
Which if the following are intermolecular interactions betwe…
Which if the following are intermolecular interactions between amino acids in proteins.