Kanco Industries has a relevant range extending to 31,000 units each month. The following performance report...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Kanco Industries has a relevant range extending to 31,000 units each month. The following performance report provides information about Kanco's budget and actual performance for September. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses (...) For the Month Ended September 30 Data table Flexible budget Flexible Actual variance Budget Volume Variance Master Budget Output units 26,000 31,000 A 1 Sales revenue Less: Variable expenses $ 242,000 $ 176,800 5,400 F 2 $ 194,680 3 Contribution margin Less: Fixed expenses 18,500 Operating income B C D E F Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget 22,500 4 5 Output units Actual 26,000 variance Flexible Budget Volume Variance Master Budget ? 31,000 6 Sales revenue $ 242,000 $5,400 F ? ? ? 7 Less: Variable expenses 176,800 ? ? ? $ 194,680 8 Contribution margin ? ? ? ? ? 9 Less: Fixed expenses 18,500 ? ? ? 22,500 10 Operating income ? ? ? ? ? Print Done - Kanco Industries has a relevant range extending to 31,000 units each month. The following performance report provides information about Kanco's budget and actual performance for September. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses (...) For the Month Ended September 30 Data table Flexible budget Flexible Actual variance Budget Volume Variance Master Budget Output units 26,000 31,000 A 1 Sales revenue Less: Variable expenses $ 242,000 $ 176,800 5,400 F 2 $ 194,680 3 Contribution margin Less: Fixed expenses 18,500 Operating income B C D E F Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget 22,500 4 5 Output units Actual 26,000 variance Flexible Budget Volume Variance Master Budget ? 31,000 6 Sales revenue $ 242,000 $5,400 F ? ? ? 7 Less: Variable expenses 176,800 ? ? ? $ 194,680 8 Contribution margin ? ? ? ? ? 9 Less: Fixed expenses 18,500 ? ? ? 22,500 10 Operating income ? ? ? ? ? Print Done -
Expert Answer:
Answer rating: 100% (QA)
First lets calculate the flexible budget amounts for sales revenue variable expenses contribution margin and operating income based on the actual outp... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0176223311
1st Canadian Edition
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
Posted Date:
Students also viewed these accounting questions
-
4. In the gold foil experiment (Au; Z=79), alpha particles with Z=2, m = 4.0000 a.m.u have an initial kinetic energy of 7.9384 MeV. A small fraction of the alpha particles are observed to bounce...
-
What is the present value of the following annuity? $773 every quarter year at the end of the quarter for the next 10 years, discounted back to the present at 17.94 percent per year, compounded...
-
Metrovox is a German electronics manufacturer that designs, develops and manufactures a range of products for the entertainment and home electronics sector. Management has recently focused on two...
-
A production line will be used to manufacture an item. The line will be operated with using the same personnel during single shift operations. During the initial line certification, the first item...
-
The following data represent highway fuel consumption in miles per gallon (mpg) for a random sample of 55 models of passenger cars (Source: Environmental Protection Agency) Use the specified number...
-
A century ago, the common law regarding landlords and tenants held the tenant responsible for major repairs to residences, such as roof repairs. Over the years, the common law changed to put such...
-
(PV growing cash flows) You are the CFO of Termination, Inc. Your company has 40 employees, each earning $40,000 per year. Employee salaries grow at 4% per year. Starting from next year, and every...
-
Colin Davis Machine Company maintains a general ledger account for each class of inventory, debiting such accounts for increases during the period and crediting them for decreases. The transactions...
-
Please answer Math calculus 2 questions 10) FOR ( - 1 ) n +1 Z FIND A SO THAT
-
Consider the following relations for a mini world of credit). COMPANY. Answer all queries in the language asked for (alternate language gets no EMPLOYEE (FName, LName, SSN, Bdate, Address, Sex,...
-
Counselors are to practice and maintain ethical standards when working in the field. The National Association of Alcoholism and Drug Abuse Counseling (NAADAC) suggests nine principles that assure the...
-
_____ are made up of the ability to evaluate a situation, identify alternatives, select a reasonable alternative, and make a decision to implement a solution to a problem.
-
_____ are the ability to understand, communicate, and work well with individuals and groups through developing effective relationships.
-
_____ include the ability to use methods and techniques to perform a task.
-
_____ is a capability that creates value for customers that rivals cant copy quickly or easily and that allows the organization to differentiate its products or services from those of competitors.
-
_____ includes employee engagement as well as the totality of other interactions between the individual and their workplace and whether those interactions are positive or negative overall.
-
! Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Phoenix Company reports the following fixed...
-
Wholesalers Ltd. deals in the sale of foodstuffs to retailers. Owing to economic depression, the firm intends to relax its credit policy to boost productivity and sales. The firms current credit...
-
The Danner Corporation reported the following accounting income before income taxes, income taxes expense, and net income for 20x6 and 20x7: On the balance sheet, deferred income taxes liability...
-
Contingent Liabilities Several items are listed for which the outcome of events is unknown at year-end. a. A company has been sued by the federal government for price fixing. The companys legal...
-
Using the corporate tax rate schedule in Table 1, compute the income tax liability for the following situations: Situation Taxable Income A $ 70,000 B 85,000 C 320,000 Income Tax Allocation
Study smarter with the SolutionInn App