WXY Corporation manufactures lambs. Herebelow static budget and actual results arepresented;Actual Results as Static Budget asof Dec,31,2011of Jan,01,2011UnitssoldRevenues$1.840.000Variable $901.600184.000 units180.000 units$1.800.000$864.000costsFixed$190.000$200.000costsRequired:a. Please prepare five column income statementperformance report.b. Discuss the advantages of using flexiblebudgets in detail. Describe the purpose ofvariance analysis and its relation toresponsibility management by usingexamples.

Income statement: An income statement is a statement of revenue and expenses of the organization…

WXY Corporation manufactures lambs. Here below static budget and actual results are presented; Actual Results as Static Budget as of Dec,31,2011 of Jan,01,2011 Units sold Revenues$1.840.000 Variable $901.600 costs Fixed 184.000 units 180.000 units $1.800.000 $864.000 $190.000 $200.000 costs Required: a. Please prepare five column income statement performance report. b. Discuss the advantages of using flexible budgets in detail. Describe the purpose of variance analysis and its relation to responsibility management by using examples.

WXY Corporation manufactures lambs. Here below static budget and actual results are presented; Actual Results as Static Budget as of Dec,31,2011 of Jan,01,2011 Units sold Revenues$1.840.000 Variable $901.600 costs Fixed 184.000 units 180.000 units $1.800.000 $864.000 $190.000 $200.000 costs Required: a. Please prepare five column income statement performance report. b. Discuss the advantages of using flexible budgets in detail. Describe the purpose of variance analysis and its relation to responsibility management by using examples.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 16PA: Titanium Blades refines titanium for use in all brands of razor blades. It prepared a static budget...

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