Beech Company produced and sold 113,000 units in May. For the level of production in May, budgeted amounts were sales, $1,390,000; variable costs, $841,000; and fixed costs, $250,000. The following actual results are available for May. Sales (113,000 units) Variable costs Fixed costs Actual Results $ 1,372,000 811,500 250,000 Prepare a flexible budget performance report for May. Indicate whether each variance is favorable or unfavorable (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)

Q: Before the year began, the following static budget was developed for the estimated sales of 100,000.…

A: A flexible budget is basically considered as those budget which adjusts them self to the interest or…

Q: Uber Corporation manufactures and sells a single product. The company uses units as the measure of…

A: Given information, Budgeted units =6,800 units Actual units =6,750 units   Standard direct labor…

Q: Tanya Inc.’s static budget for 10,000 units of production includes P60,000 for direct materials,…

A: A flexible budget is prepared by modifying the static budget according to a different volume or…

Q: the following information is available for Pioneer Company:   Sales price per unit is $110.…

A:

Q: Jones Company developed the following static budget at the beginning of the company's accounting…

A: Variable cost per unit = Total Variable costs / No. of units = $5,250 / 10,500 units = $0.50 per…

Q: Hubbard, Inc.'s static budget at 3,000 units of production includes $12,000 for direct labor, $3,000…

A: Budget is prepared by the management on the basis of past experience. On the basis of the budget, It…

Q: Nina Company prepared the following fixed budget for July using 7,660 units for budgeted sales.…

A: The flexible budget performance report is prepared to compare the budgeted costs and actual costs…

Q: A company's master budget for October is to manufacture and sell 31,600 units, for a total sales…

A: The variance is the difference between the actual data and standard output of the production. The…

Q: The selling and administrative expenses in the planning budget for June would be closest to:

A: Given information for Selling and Administration Expense will be: Budgeted units for June = 6900…

Q: Reflector Glass Company prepared the following static budget for the year: Static Budget…

A: Solution: Budgeted contribution margin per unit = $7 - $1.50 = $5.50 per unit

Q: Wellmann Corporation is a service company that measures its output by the number of customers…

A: The variances are the difference between the actual figure with the budgeted one. A spending…

Q: The static​ budget, at the beginning of the​ month, for Divine​ Décor Company,​ follows:   Static​…

A: Flexible budget variance is the difference between budgeted sales revenue for actual units and the…

Q: A company's master budget for October is to manufacture and sell 60,000 units with fixed costs of…

A: Formula: Number of units actually sold = Actually generated profit - Sales volume variance

Q: In September, Numbers Incorporated sold 40,000 units of its only product for $240,000, and incurred…

A: Organizations have variances in their budgeted costs and actual costs. However, the amount with the…

Q: Delaware Corp. prepared a master budget that included $16,120 for direct materials, $36,270 for…

A: Direct materials cost in a flexible budget = ($16120/4030) ×4330 = $17320

Q: Bryant Company’s budgeted prices for direct materials, direct manufacturing labor, and direct…

A: Static Budget Variance Static Budget Variance is refer as the difference between actual result and…

Q: Miller and Sons' static budget for 10,200 units of production includes $44,400 for direct materials,…

A: Flexible Budget: A flexible budget is a budget which by recognizing the difference in behavior…

Q: Seved Blossom, Inc. prepared the following master budget items for July: Produ tion and sales Var le…

A: Answer) Flexible Budget       Production and Sales              26,000  units…

Q: The following data were drawn from the records of Quentin Corporation. Planned volume for year…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: Dixon​ & Company manufactures Part A and uses standard costs to prepare its flexible budget. For the…

A: Total standard direct materials cost  = No. of units produced x material required per​ unit x Cost…

Q: old X, Inc. uses the following information when preparing their flexible budget: direct materials of…

A: Solution: Flexible budget is the budget which represents budgeted cost at different levels of…

Q: Piechocki Corporation manufactures and sells a single product. The company uses units as the measure…

A: Planning budget captures the budgeted estimates made in advance to predict for the coming month.

Q: Winston Company had two products code named X and Y. The firm had the following budget for August:…

A: Variance: The difference between the actual cost or price and the budgeted (standard) cost or price…

Q: Harold Corporation manufactures and sells a single product. The company uses units as the measure of…

A: Manufacturing overhead (flexible budget) = Budgeted Fixed Manufacturing overhead + (Actual units x…

Q: Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed…

A: Flexible budget performance report: A flexible budget is prepared to find the standard revenues and…

Q: Beech Company produced and sold 105,000 units of its product in May. For the level of production…

A:

Q: The following information is available for Pioneer Company: Sales price per unit is $100. November…

A: Particulars November December Budgeted Sales unit 3140 3540 Sales price per unit…

Q: Feemster Corporation manufactures and sells a single product. The company uses units as the measure…

A: Activity variance: Under the activity variance we subtract actual results from the flexible budget.…

Q: Miller and Sons' static budget for 9,800 units of production includes $40,400 for direct materials,…

A: Flexible budget: It implies to a financial plan that shows the estimated expenses and revenue at the…

Q: Piechocki Corporation manufactures and sells a single product. The company uses units as the measure…

A: INTRODUCTION: Revenue is the amount of money received by a firm by selling items and/or delivering…

Q: Miller and Sons' static budget for 10,100 units of production includes $38,300 for direct materials,…

A: The correct answer is Option (b).

Q: Using the following budgeted information for production of 9,000 and 16,000 units, prepare a…

A: Total expenses = Expense A + Expense B + Expense C

Q: Blossom, Inc. prepared the following master budget items for July: Production and sales 22,000 units…

A: The flexible budget is prepared for actual units produced with budgeted rates.

Q: In September, Larson Inc. sold 42,000 units of its only product for $255,000 and incurred a total…

A: actual sales revenue is $255,000 actual total cost incurred is $236,300 Net Operating Income =…

Q: A company set the total budgeted direct labor cost at P75,000 for the month for producing 5,000…

A: Direct labor efficiency variance = (Actual hours worked × standard rate) - (Standard hours×standard…

Q: The following information is available for Pioneer Company: Sales price per unit is $100. November…

A: Particulars November December Budgeted Sales unit 3140 3540 Sales price per unit $100 $100…

Q: The next year's budget for Trend, Inc., a multi-product company, is given below: Product A Product B…

A: Sales mix variance is the variance in sales revenue due to difference in proportion of products…

Q: In September, Numbers Incorporated sold 40,000 units of its only product for $262,000 and incurred a…

A: The question asks for actual operating income which is the difference between actual sales and…

Q: Before the year began, the following static budget was developed for the estimated sales of 100,000.…

A: sales per unit = sales / number of units sold = $3570000 / 100000 = $37.5   Flexible budget at 80000…

Q: Tillman Manufacturing Co.'s static budget at 32,000 units of production includes $112,000 for direct…

A: Static budget is the budget which is prepared for only one or fixed level of production. It is also…

Q: Ferguson Farrar Limited is a manufacturing company. For the month of April 20X3 it budgeted for 4000…

A: Variance is the difference between the actual result from the expected result. Expected result is…

Q: The following is monthly budgeted cost and activity information for two activities in the purchasing…

A: Solution: Budgeted variable cost per invoice = $11,700 / 780  = $15 per invoice Flexible budget cost…

Q: Kevin Jarvis Industries produced 192,000 units in 90,000 direct labor hours. Production for the…

A: The correct answer is Option (4).

Q: Total industry volume for both products X and Y was estimated to be 130,000 units at the time of the…

A: Sales mix variance   =Actual unit sales  (Actual sales mix percentage -Planned sales mix percentage)…

Q: The following data are available for the most recent year of operations for Slacker & Sons. The…

A: Given: The master budget is given below,

Q: The following data pertain to Aurora Electronics for the month of February.…

A: Sales price variance computes the difference between the budgeted and actual sales price based on…

Q: During the first quarter, skeleton produced 60,000 units and incurred total manufacturing costs of…

A: A budget that is prepared for a certain level of output is known as a fixed budget. On the other…

Q: Premised on past experience, Mayo Corp. adopted the following budgeted formula for estimating…

A: Flexible budget is that type of budget which changes with change in activity level. This type of…

Q: Delaware Corp. prepared a master budget that included $18,360 for direct materials, $28,200 for…

A:

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.