[10 points] The following data are for the month of July for the Flex-7824 Company:Sales quantitySelling price perunitVariable cost perunitTotal fixed costsPlanning (Static)Budget12,000 units$88$61$136,000What is the company's flexible budget net operating income in July?Multiple Choice$95,000$152,000○ $188,000○ $269,000Actual Results15,000 units$85$66$133,000

Step 1: Determine the Actual Sales Quantity Actual sales quantity: 15,000 unitsStep 2: Determine the…

Answered: [10 points] The following data are for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Plz last question If the target ROI is 15%, what is the residual income?
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Week 11 Absorption Costing & Marginal Costing Profit Statement Answer all questions Fantasia Berhad plans to manufacture a new product next month. The expected average monthly sales and production volumes are 3,000 units. Budgeted cost per unit of a product based on the average monthly production volume is as follows: Direct material Direct labour (RM16 per hour) Variable production overhead RM 110 Required: 48 Other information are as follows: Selling Price per unit Variable selling and administration overhead Fixed selling and administration overhead Fixed production overhead Additional information: i. Fixed selling and administration overhead is to be treated as period cost in the monthly Income Statement. b. 24 182 ii. The budgeted production for the first month is 3,720 units but only 2,680 units are expected to be sold. RM400 10% of selling price RM168,000 per month RM126,000 per month Prepare the Statement of Profit or Loss of Fantasia Berhad for the first month using the…
Q19 Winston Company had two products code named X and Y. The firm had the following budget for August: Product X Product Y Total Sales $ 266,000 $ 450,000 $ 716,000 Variable Costs 192,000 225,000 417,000 Contribution Margin $ 74,000 $ 225,000 $ 299,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 24,000 $ 117,000 $ 141,000 Selling Price per unit $ 100 $ 50 On September 1, the following actual operating results for August were reported: Product X Product Y Total Sales $ 280,000 $ 470,000 $ 750,000 Variable Costs 154,000 188,000 342,000 Contribution Margin $ 126,000 $ 282,000 $ 408,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 76,000 $ 174,000 $ 250,000 Units Sold 3,000 9,000 Total industry volume for both products X and Y was estimated to be 130,000 units at the time of the budget. Actual industry volume for the period for products X and Y was 100,000 units. The firm's market size variance for the period…
Question 3
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These following details were supplied by Eigen Manufacturing Corp. over the previous month: Sales $40,000 Variable costs 14,000 Fixed costs 10,000 Operating income $16,000 What is the anticipated operating income if sales drop to 50% in the upcoming month? A. $6,000 B. $15,000 C. $3,000 D. $16,000
Q3 Hollaway Corporation has the following data for the current fiscal year: Actual Budget Sales Units Product X 25,000 94,000 Product Y 135,000 107,000 Total 160,000 201,000 Contribution Margin Product X $ 15.00 $ 14.00 Product Y $ 12.00 $ 11.00 The total sales mix variance for both products is: (Round your percentages to one decimal place. Example: Round .1447 to .145 or 14.5%.) Multiple Choice $409,760 unfavorable. $133,760 favorable. $253,760 favorable. $153,760 favorable. $149,760 unfavorable.
Vaibhav
QUESTION 2: ABSORPTION AND VARIABLE COSTING AND BUDGETING ( Good Toys Company produces a toy product. Data concerning the company’s operations last year appear below: Units in beginning inventory 0 Units produced 15,000 Units sold 12,000 Selling price per unit $110 Variable cost per unit: Direct materials $30 Direct labour $20 Variable manufacturing overhead $10 Variable selling and administrative costs $8 Fixed costs in total: Fixed manufacturing overhead $225,000 Fixed selling and administrative costs $280,000 Required (show your calculations):Prepare a variable costing income statement for the year. Type in answers to Question 2. a. (expand the space as needed) Client Solutions is working on its direct labour…
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