Amerfond, Inc. produces the basic fillings used in many popular frozen desserts and treats-vanilla and...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Amerfond, Inc. produces the basic fillings used in many popular frozen desserts and treats-vanilla and chocolate ice creams, puddings, meringues, and fudge. Amerfond uses standard costing and carries over no inventory from one month to the next. The ice-cream product group's results for June 2017 were as follows: (Click the icon to view the results.) Read the requirements. Requirements 1 and 2. Calculate the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variarice relative to its static-budget amount? Break down each static-budget variance into a fiexible-budget variance and a sales-volume variance. Begin with the flexible budget columns, then enter in the sales volume variance and static budget variances. Finally, compute the static budget variance as a percentage of the static budget. Labeleach variance as favorable (F) or unfavorable (U). For variance with a S0 balance, make sure to enter 0 n the appropriate field. the variance is ze o do not select a label Round dollar amount to the nearest whole dollar and percentages o to decima pace XXX%. Flexible- Budget Variances Sales- Volume Variances SB variance Actual Flexible Static Budget of Static Results Budget Budget Variances Budget Units (pounds) Revenues ariable mfg. costs
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: Flex AI - Your personal assistant for all your inquiries!