The following is a partially completed performance report for Surf-Side Pools, one of Kool Times competitors: 1.
Question:
1. How many pools did Surf-Side originally think it would install in April?
2. How many pools did Surf-Side actually install in April?
3. How many pools is the flexible budget based on? Why?
4. What was the budgeted sales price per pool?
5. What was the budgeted variable cost per pool?
6. Define the sales volume variance. What causes it?
7. Define the flexible budget variance. What causes it?
Transcribed Image Text:
SURF-SIDE POOLS Income Statement Performance Report Year Ended April 30 Flexible Budget Actual Resuslxiblfor A Sales Static at ActualBugNumber of Vol(Master) Prices Viance Output UnitsVariance Budget Output units (pools installedy Sales revenue Variable expenses Fixed expenses Total expenses Operating income $90,000 50,000 25,000 75,000 $15,000 $108,000 $102,000 57,000 21,000 78,000 S 24,000 60,000 25,000 85,000 $23,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (18 reviews)
1 The master budget indicates that SurfSide Pools planned to sell five pools in April 2 The actual r...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Managerial Accounting
ISBN: 978-0176223311
1st Canadian Edition
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
Question Posted:
Students also viewed these Managerial Accounting questions
-
The following is a partially completed performance report for Sunshine Pools. 1. How many pools did Sunshine Pools originally think it would install in April? 2. How many pools did Sunshine Pools...
-
Following is a partially completed performance report for a recent week for direct labor in the binding department of a book publisher: The original budget is based on the expectation that 8,000...
-
Following is a partially completed performance report for a recent week for direct labor in the binding department of a book publisher: The original budget is based on the expectation that 3,000...
-
A mixture of 1 kmol carbon dioxide, 2 kmol carbon monoxide, and 2 kmol oxygen, at 25C, 150 kPa, is heated in a constant pressure steady state process to 3000 K. Assuming that only these same...
-
Use a graph to illustrate the effect of each event. Dairies make low-fat milk from full-cream milk. In the process of making low-fat milk, the dairies produce cream, which is made into ice cream. In...
-
??????? Suppose that the standard deviation of returns on the market portfolio is \( 20 \% \), and the risk-free rate is \( 3.5 \% \). Consider two stocks with corresponding expected returns of \( 12...
-
Find the Internet site "Bob Jensen's Enron Quiz Questions." Take the Quiz.
-
Like most firms in its industry, Yeastime Bakeries uses a subjective risk assessment tool of its own design. The tool is a simple index by which projects are ranked by level of perceived risk on a...
-
es FARO Technologies, whose products include portable 3D measurement equipment, recently had 28 million shares outstanding trading at $30 a share. Suppose the company announces its intention to raise...
-
Using the alternative-parameter method, determine the parameters of the following distributions based on the given assessments. Refer to Step 5.5 if necessary. a. Find the parameter value for the...
-
Fresh-Cut actually processed 180,000 cases of frozen organic vegetables during the year and incurred $840,000 of manufacturing overhead. Of this amount, $610,000 was fixed. Requirements 1. What is...
-
Deelux manufactures paint. The company charges the following standard unit costs to production on the basis of static budget volume of 30,000 cans of paint per month: Direct...
-
Under average cost pricing by a natural monopoly, a. price is greater than marginal cost. b. a welfare cost will be incurred. c. the producer will earn a normal rate of return. d. a producer...
-
Complete Assignment 3: Interpersonal Communication Conflict Scene Erin Brockovich (4/10) Movie CLIP - I Thought We Were Negotiating Here? (2000) HD 1.) What type of conflict (ego, pseudo or simple...
-
The capital balances of Donny and Belle remained at P500,000 and P250,000 throughout the entire year. Donny made regular drawings of P150,000 and Belle P100,000. These are normal drawings made by the...
-
Sunn Company manufactures a single product that sells for $250 per unit and whose variable costs are $200 per unit. The company's annual fixed costs are $770,000. (1) Prepare a contribution margin...
-
Mercedes-Benz, With four of the issues being internal issues and four being airbag related, the company is experiencing the same or higher amount of recalls than other companies. Do the customers...
-
Choose one company identified as unethical by Ethical Consumer: 1. Amazon 2. Asda 3. Nestle 4. Tesco 5. Coco Cola Use appropriate ethical theories to critically evaluate the company's behavior...
-
Evaluate using the appropriate method or combination of methods. T/2 Jx/4 cot xcsc xdx
-
Should U.S. antidumping laws be stated in terms of average total costs or average variable costs?
-
If you simulate distributions of NPVs for two different strategies, why would it usually be inappropriate to compare the distributions and choose the one that is less risky?
-
Indicate whether the following accounts generally will have (a) Debit entries only, (b) Credit entries only, or (c) Both debit and credit entries. (1) Cash. (2) Accounts Receivable. (3) Owners...
-
What are the advantages of using a journal in the recording process?
-
(a) When entering a transaction in the journal, should the debit or credit be written first? (b) Which should be indented, the debit or credit?
-
Interest paid on the principal and also on previously earned interest, assuming that the interest is left in the account, is called _____________________. Group of answer choices Compound Interest...
-
A standard is a unit amount and a budget is a total amount. Group of answer choices True False
-
Which newspaper revenue stream did services like Craigslist and Facebook Marketplace replace? Group of answer choices Revenue from paywalls. Classified ads. Subscription and "news stand" sales....
Study smarter with the SolutionInn App