Hampton Muffins sells its muffins to restaurants and coffee houses for an average selling price of $26 per case. The followinginformation relates to the budget for Hampton Muffins for this year (all figures are annual totals unless otherwise noted):(Click the icon to view the budget information.)During the year, Hampton Muffins actually sold 9,500 cases, resulting in total sales revenue of $255,100. Actual expenses (intotal) from this vear are as follows:Sales revenue($26 per case)Variable operating expenses:Packaging expense ($2 per case sold)Shipping expense ($4 per case sold)Sales commissions (5% of sales price)Fixed operating expenses:SalariesOffice rentDepreciationInsurance expenseOffice Supplies expenseTotal operating expensesFor the Year Ended December 31FlexibleBudgetVarianceActual9,500 casesFlexibleBudget9,500 casesVolumeVarianceMasterBudget9,100 casesRequirementConstruct a flexible budget performance report for Hampton Muffins for the year. Be sure to indicate whether eachvariance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable(F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.)Data tablePackaging cost...Shipping expense...$ 19,700$ 39,900Sales commission expense...... $ 12,755Salaries expense.$7,300Office rent$3,100Depreciation$3,300Insurance expense$1,700Office supplies expense$900Print..Done- X4

Flexible Budget :— Flexible Budget is a type of Variable Budget that predict the Production or…

CITTE Requirement Construct a flexible budget performance report for Hampton Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.)

CITTE Requirement Construct a flexible budget performance report for Hampton Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 3PB: TIB makes custom guitars and prepared the following sales budget for the second quarter It also has...

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