Please competely answer V.You are given the following table. Find the missing data. (show calculations)ActualFlexible BudgetFlexibleSales-VolumeStaticBudget224,175ResultsVariancesBudget245,000(A)VariancesUnits soldRevenuesVariable245,000$93,625$2,500 F$3,130 U(B)(C)$18,335$445 U$1,870 F$35,630$20,205$41,030$20,205$5,400 FcostsFixed costsOperatingincome$39,215$35,290$33,020(D)(E)

Accounting is essential to operating a company since it allows businesses to track income and…

Answered: V. You are given the following table.…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11MC: Which of the following statements is not correct? A. The sales budget is computed by multiplying...

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Fran Powers created following budget and reported actual spending listed. Calculate the variance for each catagory and indicate whether it is Deficit or Surplus: Item Budggeted Actual Variance Deficit/Surplus Food $360 $298Automobile $320 $334Housing $950 $982Clothing $110 $134Personal $275 $231
Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Results Flexible Budget Planning Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,450 ? $ 8,400 What is the spending variance for wages and salaries expense? Multiple Choice $176 U $126 F $176 F $126 U
Perform a sensitivity analysis on the budget for values from $5,000 to $35,000 inincrements of $5,000. Construct a graph of percentage reach versus budget. Is theadditional increase in percentage reach monotonically decreasing as the budget allocationincreases? Why or why not? What is your recommended budget? Explain.
Marsh, Inc. provides the following information: Actual Sales Static Budget Flexible Budget Sales Volume Variance Sales Revenue $560,000 $528,000 $460,000 ? Calculate the sales volume variance. A. $100,000 F B. $32,000 F C. $68,000 U D. $32,000 U
Crystal Mining has completed the following data to analyze utility cost:MonthMachine Hours Utility CostJanuary200P 300February325440March400480April410490May525620June680790July820840August900900Required:1.Use the least squaresmethod to develop a formula for budgeting utility cost. (Round off value of b to two decimal places and the value of a to nearest peso.2.Prepare flexible budget with separate variable and fixed categories for utility costs at 350, 500, and 600 machine hours.
Master Budget Spreadsheet Instructions: use the listed available Master Budget Spreadsheet excel data to list the required formulas to complete the Forecasted Balance Sheet including the missing spreadsheet items that are used in summing the initial $324,357 figure used in this given Forcasted Balance Sheet's Fixed assets (net) formula: $131,717=$324,357-$8,000-$145,040-$39,600. Respective coresponding Fixed assets (net) Balance Sheet formulas derived from the Master Budget Spreadsheet data: $324,357=Spreadsheet data? Cash: $8,000 Cash balance, ending Accounts receviable: 145,040=(147,000*80%)+(137,200*20%) Sales buget August*80%+Sales budget July*20% Merchandise inventory: 39,600=720*55 Desired ending inventory August*Average purchase cost per unit Actual & Budgeted Unit Sales April 1,500 May 1,000 June 1,600 July 1,400 August 1,500 September 1,200 Balance Sheet, May 31 19X5 Cash $8,000 Accounts…
At the start of 2021, X Company developed the following budgeted total cost function: $9.52X + $234,700, where X is number of units produced. Budgeted production for the year was 10,600 units, but actual production for the year was 9,400 units. Actual total costs were $308,189. What was the 2021 flexible budget variance for total costs [a positive number means a favorable variance and a negative number means an unfavorable variance]? A: $11,088 B: $12,530 C: $14,158 D: $15,999 E: $18,079 F: $20,429
1- Given the following information is the variance favorable or unfavorable? Flexible Budget Sales $100,000 Actual Sales $95,000 Group of answer choices Favorable/Unfavorable? 2- Given the following information is the variance favorable or unfavorable? Master Budget Variable Costs $100,000 Flexible Budget Variable Costs $95,000 Group of answer choices Favorable/Unfavorable? 3- Given the following information is the variance favorable or unfavorable? Master Budget Sales $100,000 Flexible Budget Sales $95,000 Group of answer choices Favorable/Unfavorable? 4- Given the following information is the variance favorable or unfavorable? Flexible Budget Fixed Costs $100,000 Actual Fixed Costs $95,000 Group of answer choices Favorable/Unfavorable?
The following information is available from the KANSAN CORP.: Actual factory O/H P15,000 Fixed O/H expenses, actual P7,200 Fixed O/H expenses, budgeted P7,000 Actual hours 3,500 Standard hours 3,800 Variable O/H rate per DLH P2.50 Assuming that Tyro uses a three-way analysis of O/H variances, what is the spending variance?
Which of the following budgets are prepared before the sales budget? Budgeted Income Statement Direct Labor Budget A) Yes Yes B) Yes No C) No Yes D) No No Group of answer choices Choice A Choice B Choice C Choice D
1 Consider the fallowing 2020 data for Queens General Hospital (in millions of dollars): Simple Flexible Actual Budget Budget Results Revenues $5.7 $3.8 $4.5 Cost 4.8 3.1 4.2 Profit 0.9 0.8 0.3 Calculate and interpret the two profit variances. Calculate and interpret the two revenue variances. Calculate and interpret the two cost variances. How are variances related?
Which of the following budgets are prepared before the production budget? Direct materials budget Sales budget A) Yes Yes B) Yes No C) No Yes D) No No Group of answer choices option A option B option C option D

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