Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

29 A 1 Pat Smith is the founder and president of Pat Products 2 Pat called their child, Sam who is the sales manager, into

image text in transcribed
image text in transcribed
29 A 1 Pat Smith is the founder and president of Pat Products 2 Pat called their child, Sam who is the sales manager, into their office to discuss their perform 3 A static budget report has been prepared. 4 5 Pat Products Static Budget Report 7 Month Ended October 31, 2020 8 9 Static 10 Budget Actual Varlance 11 Sales in units 8,000.00 9,000.00 12 Variable costs: 13 Sales commissions $ 2,800.00 $ 3,000.00 $ 200.00 U 14 Travel expense $ 2,400.00 $ 2,400.00 $ 15 Meals expense $ 1,300.00 $ 1,500.00 $ 200.00 U 16 Entertainment expense $ 4,000.00 $ 3,600.00 $ 400.00 F 17 Total variable costs $10,500.00 $ 10,500.00 $ 18 Fixed costs: = rmula Sheet Part1 - MCQ - Theory (12 marks) Part2 - MCQ - Calc. (7 marks) Calculation Mode: Automatic Workbook Statistics 1,500.00 S 21 22 Required: 23 a) Prepare a flexible budget for October in good form.49 marks) 24 b) Should Sam be praised or reprimanded for their performance in October? (1 mark) expense which stayed the same. Actual fixed costs did not change from September. Prepare a fiexible budget 25 for November (5 marks) 26 d) Comment on Sam's performance in November. (1 mark) sa mata 29 A 1 Pat Smith is the founder and president of Pat Products 2 Pat called their child, Sam who is the sales manager, into their office to discuss their perform 3 A static budget report has been prepared. 4 5 Pat Products Static Budget Report 7 Month Ended October 31, 2020 8 9 Static 10 Budget Actual Varlance 11 Sales in units 8,000.00 9,000.00 12 Variable costs: 13 Sales commissions $ 2,800.00 $ 3,000.00 $ 200.00 U 14 Travel expense $ 2,400.00 $ 2,400.00 $ 15 Meals expense $ 1,300.00 $ 1,500.00 $ 200.00 U 16 Entertainment expense $ 4,000.00 $ 3,600.00 $ 400.00 F 17 Total variable costs $10,500.00 $ 10,500.00 $ 18 Fixed costs: = rmula Sheet Part1 - MCQ - Theory (12 marks) Part2 - MCQ - Calc. (7 marks) Calculation Mode: Automatic Workbook Statistics 1,500.00 S 21 22 Required: 23 a) Prepare a flexible budget for October in good form.49 marks) 24 b) Should Sam be praised or reprimanded for their performance in October? (1 mark) expense which stayed the same. Actual fixed costs did not change from September. Prepare a fiexible budget 25 for November (5 marks) 26 d) Comment on Sam's performance in November. (1 mark) sa mata

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

Step: 3

blur-text-image

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

Accounting What The Numbers Mean

Authors: David H. Marshall, Wayne William Mcmanus, Daniel Marshall Viele, Mcmanus Marshall, Daniel F. Viele

10th Edition

1259060705, 978-1259060700

More Books

Students also viewed these Accounting questions

Question

Why are employees considering union representation?

Answered: 1 week ago

Question

What is the total annual turnover rate?

Answered: 1 week ago