Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company reports the following fixed budget based

A company reports the following fixed budget based on expected production and sales of 2,000...

90.2K

Verified Solution

Question

Accounting

A company reports the following fixed budget based on expected production and sales of 2,000 units. Fixed Budget For Year Ended December 31 Sales (2,000 units) $ 906,000 Costs Direct materials 172,000 Direct labor 166,000 DepreciationMachinery 200,500 Supervisory salaries 120,500 Shipping 50,000 Administrative salaries 70,500 Income $ 126,500 This company's actual results for sales of 2,300 units follow. Sales (2,300 units) $ 960,700 Costs Direct materials $ 195,200 Direct labor 181,400 DepreciationMachinery 200,500 Supervisory salaries 105,520 Shipping 61,960 Administrative salaries 72,520 Income $ 143,600 Prepare a flexible budget performance report for the year ended December 31. Note: Select favorable or unfavorable for each variance. For zero v

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Based on the article “Why it is so difficult to measure inflation Tisk it or drat it,...

Economics
Q

Use inclusion-exclusion to find the number of binary strings of length 5 that have at least one...

Advance Math
Q

Once the construction below is complete creating a parallel line to PS through point Q...

Geometry
Q

The founders of the Ottoman Empire were O Turks O Persians O Kurds O Arabs

Algebra
Q

Material Price Variances and Materials Quantity Variances help? Luc, Inc., manufactures a single...

Accounting
Q

Problem 21-01 (Part Level Submission) Please solve. The following facts pertain to a non-cancelable...

Accounting
Q

Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to...

Accounting
Q

Exercise 21A-12 a-f On January 1, 2017, Carla Vista Company leased equipment to Flynn Corporation....

Accounting
Q

Which of the following sections of the statement of cash flows includes the issuance of...

Accounting
Q

Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc. uses...

Accounting
Q

On February 1, 2020, Norton Company transferred the receivables on a with recourse basis with...

Accounting
Q

3) A closed-end fund starts the year with a net asset value of $12. By...

Finance