Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following budgeted and actual income statement

The following budgeted and actual income statements have been prepared for 2008 for WRL Company...

50.1K

Verified Solution

Question

Accounting

image
The following budgeted and actual income statements have been prepared for 2008 for WRL Company Actual (20,000 units) Budgeted (19,000 units) Sales Variable costs $480,000 390.000 $494,000 380.000 Contribution margin $ 90,000 $114,000 Fixed costs 92.000 85.000 Net income (loss) $ (2.000) $ 29,000 6. What was the selling price variance based on 2008 results? a $38,000 favourable b. $40,000 favourable C. $38,000 unfavourable d. $40,000 unfavourable e none of the above 7. What was the sales activity variance based on 2008 results? a. $24,500 favourable b. $6,000 favourable c. $24,500 unfavourable d. $6,000 unfavourable e none of the above 8. What was the variable cost variance for 2008? a. $9,500 favourable b. $10,000 favourable c. $9,500 unfavourable d. $10,000 unfavourable e none of the above

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!
Become a Member

Other questions asked by students