Problem 5. Angel Company is a wholesaler that sells a single product at P103.40 per unit. Its cost analyst has collated the necessary information for the gross profit analysis, comparing actual to budget for its product. The actual and budget data for the month of March of the current year show: Actual Budgeted Sales volume (units) Cost of goods sold 5,000 6,000 P315,500 P378,600 Required: Present the gross profit variance analysis.

Q: Comp Wiz sells computers. During May, it sold 350 computers at a $1,200 average price each. The May…

A: At the point when the actual cost varies from the standard cost, it is called variance. In the event…

Q: Use this information about Flushing Company to answer the question that follows. The budgeted…

A: Formula: Budgeted production = Anticipated sales - Beginning inventory + ending inventory Deduction…

Q: Top managers of Kyler Industries predicted 2018 sales of 14,400 units of its product at a unit price…

A: Under flexible budget, the revenue per unit and the variable cot per unit are multiplied by actual…

Q: CompuWorld sells two products, R66 and R100, and calculates sales variances using the contribution…

A: Sales quantity variance =  (actual sales quantity- budgeted sales quantity) x budgeted contribution

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

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

Q: A company produces 3 products with the following budget information available: A B C Sales…

A: Variance:- It means when there is a deviation between actual output and standard output. Companies…

Q: Prepare and discuss a flexible budget report. E11.24 (LO 1, 2) As sales manager, Kajsa Keyser was…

A: Flexible Budget is the representation of Static Budget on the basis of Actual units sold such that…

Q: 2. Prepare a flexible budgeted income for 120,000 units using the following information from a…

A: Flexible budget: It can be defined as a budget that can be adjusted to the required level of volume…

Q: Top managers of Juda Industries predicted 2018 sales of 14,700 units of its product at a unit price…

A: The budget preparation based on the actual output is defined as the flexible budget. The budget…

Q: Compute the revenue, sales price, and the sales volume variances.

A:

Q: The master budget at Western Company last period called for sales of 225,000 units at $9 each. The…

A: Profit variance analysis: It shows and determine the causes behind the changes in the profit of the…

Q: The master budget at Western Company last period called for sales of 225,000 units at $9 each. The…

A: Profit variance analysis of Western company is as under:

Q: fop managers of Marshall Industries predicted 2018 sales of 14,800 units of its product at a unit…

A: Budget is the estimation of revenues and expenses related to specific period of time in future.

Q: A company's budgeted price of its product is $50 per unit. The company's planned level of activity…

A: Revenue variance = ( Actual level of activity x budgeted price per unit - Actual revenue)

Q: Webb pic sells one product for which data for a budgeted period are given below: £ Selling price per…

A: The answer is option (b). [i.e,5,333 units]  Refer step 2 for explanation

Q: Use the information below for Flushing Company to answer the question that follow. Below is…

A: BUDGETED SALES ARE CALCULATED TO FIND OUT THE UNITS THAT THE COMPANY IS EXPECTED TO SELL , WHICH…

Q: Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the…

A: Here in this question, we are require to calculate margin of safety in dollars and margin of safety…

Q: Mia Wiz sells computers. During May, it sold 400 computers at a $900 per unit price. The fixed…

A: Lets understand the basics. Sale price variance is a variance between the standard rate at which…

Q: Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the…

A: Margin of safety: Difference between total sales and break even sales is called margin of safety.…

Q: Lincoln Corporation used the following data to evaluate their current operating system. The company…

A: Static budget is that budget which is fixed in nature and will not be change. But if level of…

Q: Voi Company manufactures remote control devices for cars. The following information was collected…

A:

Q: Problem 5. Angel Company is a wholesaler that sells a single product at P103.40 per unit. Its cost…

A: Actual gross profit=Sale volume×Per unit-COGS=5,000×P 103.40-315,500=P 201,500

Q: QUESTION2…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Midnight Sun Outfitters projected sales of 76,000 units for the year at a unit sales price of…

A: Solution: Budgeted contribution margin per unit = Selling price per unit - Variable cost per unit =…

Q: units The master budget at Western Company last period called for sales of 226, at $10.00 each. The…

A: Profit variance is the difference between actual profit and budgeted profit Sales ariance is…

Q: Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture…

A: Flexible budget is the statement which is prepared by an entity to budget the revenues and expenses.…

Q: Sanford Company original assumptions for the planning budget were: Total sales = $160,000, sale…

A: Given: Budgeted Quantity (BQ)=$160000$20=8000 unitsBudgeted Price (BP)=$20Actual Quantity (AQ)=8200…

Q: Performance Report Drizzdale Industries - Pharmaceutical Segment For the Fiscal Year Ended December…

A: Performance Report Drizzdale Industries - Pharmaceutical Segment For Fiscal Year Ended December…

Q: company has prepared the following budget for a given month:   Product Selling Price (per unit)…

A: Break even point: It is calculated by dividing the fixed cost by the contribution margin per unit.

Q: D&B Ice Cream budgeted sales of 136,288 units of flavor C, assuming that the company would have 16…

A: Please check the next step for the solution

Q: Mia Wiz sells computers. During May, it sold 300 computers at a $700 per unit price. The fixed…

A: Variance analysis is one of the important technique of management accounting, under which budgeted…

Q: A company has the following standard cost card for a product:   £ Selling price 2.50 Variable…

A: Variance: It implies to a change in the standardized and actual results. It refers to a change or…

Q: Mia Wiz sells computers. During May, it sold 400 computers at a $900 per unit price. The fixed…

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

Q: Preparing a flexible budget performance report Top managers of Marshall Industries predicted 2018…

A:

Q: Graham Corporation used the following data to evaluate its current operating system. The company…

A: Static budget is rigid whereas flexible budget is flexible and is prepared for actual activities

Q: The following sales were budgeted for the year:   Product A Product B Product C Demand (units)…

A: Particulars                                       Product A           Product B           Product…

Q: Required: Prepare a profit variance analysis.. (Indicate the effect of each variance by selecting…

A: Master budget: Master budget can be defined as the overview or the combination of all the smaller…

Q: he following data were collected by Allegro Company for the month of March: Static budget data:…

A: A flexible budget is a that budget which includes all the flexibility and change in the output. In…

Q: Standard per item (£) Actual per item (£) Selling price 20 22 Material 6 8 Labour 3 4…

A: Variance in sales price refers to the difference between a company's expected pricing and its actual…

Q: Q8- Sebring Company has the following data: Month Budgeted Sales $40,000 44,000 50,000 52,000 48,000…

A: solution given Month Budgeted sales April 40000 May 44000 June 50000…

Q: Q3   Hollaway Corporation has the following data for the current fiscal year:     Actual Budget…

A: Sales mix variance reflects the difference between the planned and actual amounts. To calculate…

Q: Problem 5. Angel Company is a wholesaler that sells a single product at P103.40 per unit. Its cost…

A: Answer: Gross profit variance=Actual Gross Profit-Budgeted Gross Profit

Q: Last month a company budgeted to sell 8,000 units at a price of $12.50 per unit. Actual sales last…

A: We have the following information: Company budgeted to sell 8,000 units at a price of $12.50 per…

Q: As sales manager, lohn was grven the following static budget report in the cothing dopartment of…

A: The flexible budget is prepared on the basis of actual results and standard rates. The variance is…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.