Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. 2. 3. 4. Eikasia Limited budgeted for sales of $40,000 for the month of December. Actual sales in December were $42,500. Calculate the %

1. image text in transcribed2. image text in transcribed3. image text in transcribed4. image text in transcribed

Eikasia Limited budgeted for sales of $40,000 for the month of December. Actual sales in December were $42,500. Calculate the % variance to 2 decimal places, using a negative sign if the variance is unfavourable (the absence of a negative sign will indicate a favourable variance). Eikasia Limited budgeted for a profit before interest and tax of $3,500 for the month of December. The actual profit before interest and tax was a favourable variance of 8% Calculate, to the nearest whole dollar, the actual profit before interest and tax. Eikasia Limited reported an actual expense for cost of sales of $35,000 for the month of December. This resulted in an unfavourable variance of $2,500. Calculate the absolute value of the % variance to one decimal place. Tetarto Limited is formulating its master budget for the December quarter and presents the following data: Monthly sales data: August $33,000 September $45,000 October $41,000 November $56,000 December $68,000 Based on previous experience, these sales are expected to be collected as follows:: 80% in the month of sa 15% in the month after sale 5% in the second month after sale Required Calculate, to the nearest dollar, the amount expected to be collected from customers in October

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

11th Edition

0072834943, 9780072834949

More Books

Students also viewed these Accounting questions

Question

Discuss various types of training methods.

Answered: 1 week ago

Question

Illustrate the value of different types of employment tests.

Answered: 1 week ago

Question

Outline key considerations when making a hiring decision.

Answered: 1 week ago