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Barnes Entertainment Corporation prepared a master budget for the month of November that was based on sales of 153,600 board games. The budgeted income statement
Barnes Entertainment Corporation prepared a master budget for the month of November that was based on sales of 153,600 board games. The budgeted income statement for the period is as follows.
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Sales Revenue Variable expenses $2,304,000 Direct materials $721,920 276,480 445,440 Direct labor Variable overhead Total variable expenses Contribution margin Fixed overhead Fixed selling and administrative expenses Total fixed expenses Operating income 1,443,840 860,160 255,300 505,700 761,000 S99,160 During November, Barnes produced and sold 199,300 board games. Actual results for the month are as follows Sales Revenue Variable expenses $2,979,400 $924,110 373,640 588,870 Direct materials Direct labor Variable overhead Total variable expenses Contribution margin Fixed overhead Fixed selling and administrative expenses Total fixed expenses Operating income 1,886,620 1,092,780 277,100 505,700 782,800 $309,980Step by Step Solution
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