Ch10. In the case of Soriano Company in your Chapter 10 Key Points file, when does the company prepare flexible budget? Select one: a. All the answers are correct. b. Throughout 2017. c. When the 2017 operating budgets are prepared. d. When the 2017 operation is ended. Clear my choice 6.28 11 5GE 01s ch10 Key Points w Soriano Case PPTX - 1.8 MB SORIANO Flexible Budget CASE SUPPLEMENT 21 for CHAPTER 10 TEC SORIANO B CASE SUPPLEMENT Linh p017 Salento. Ma 300.000 WAWA] Seller the Sun Pro 1.200.000, the standards STANDARD OLANTITY STANDARD PRICE TABLRD CONT ONLINE LO Direct Material 3 lbs. 55 per i $15 per output Director OS DE 515 per DIH 57.50 per per Production Overhead, FIXED 5 Ls 525 per DLH S12.50 $15.000.000 BUDGETED Total Standard Cost per totumit. 95 per output The Standard Pfeiffer warm / in beendete FIXED for MITS, IC ASSUME NOW WE ARE AT THE END OF 2017. WE FIND OUR ACTUAL SALES - 1,000,000 UNITS at 550 per unit: PRODUCTION ACCORDINGEN WORDS PONCING UNIT WITH THE FINISHED GOODS INVENTORY BEGINNING ATHENTIS AND ENTHING AT IC-1 PREPARE A Standard-Cost. Interim INCOME STATEMENT that is based on the ACTUAL UNITS SOLD. [but actual costs are not know yet and seming that SORIANO applied STANDARD COST to the ACTUAL PRODUCTION UNITS throughout 2017 SORIANO Flexible Budget CASE SUPPLEMENT for CHAPTER 18 IC ASSUME NOW WE ARE AT THE END OF 2017. WE FIND OUR ACTUAL SALES - 1,000,000 UNITS AT 550 PER UNIT, and PRODUCTION ACCORDINGLY WORKED LESS, PRODUCING UNITS WITH THE FINISHED GOODS INVITORY BEGINNING AT 6.000 UNITS AND ENDING AT 66.00 IC-1 PREPARE Axtandard-col, INTERIM INCOME STATEMENT THAT IS BASED ON THE ACTUAL UNITS SOLD, AND ASSUMING THAT SORIANO APPLIED STANDARD COST TO THE ACTUAL PRODUCTION UNITS THROUGHOUT 2017, before actuals become Total Standard Cont applied as per output THE STANDARD COST INTERIM INCOME STATEMENT FOR 2017 Before desting for Production Varianca Revenue 1,000,000 am WA Sell Price 550,00 550.000,00 Les Standard Cost of Good Sold: 1.000.000 Standard CSS35.000 Gross Profit under Standard cosystem 1.000.000 (8) 51900 Le Selime and Adem Embal 1512.000.000 Interim Operating Income, based on Standard.cools Applied to Actual production 1.000.000 SOKANO WOULD LIKE TOEVALUATE PRODOCHON VENTILORMANCE TO CONTROL CON KORACEALUNESCO STANDARD CARRIED DURING FICTION VOLEME VARIANT USLUGE STANDALE COSEN AFILIER Det Open Office ARNE TOCIONAL THE STANDARD-COST INTERIM INCOME STATEMENT FOR 2017 Mefore using for Protection Volume Variances Revenue 1,000,000 units WA Sell Price 550.00 550.000.000 Los Sandud Cost of Good Sold 1,000,000 units x Unit Standard Cost 15. (15.000.000 Cross Profit, under Standard cost system 1.000.000 units x (550 - 535) 515.000.000 Los Selling and Administrative prioriginally blested 1512.000 Interim Operating Income, based on Standard-costs Applied to Actual production 3.000.000 - SORIANO WOULD LIKE TO EVALUATE PRODUCTION FUNCTWS PEMFORMANCE TO CONTROL COSTS COSTRUDGET ACTUAL UNITS PRODUCED STAALD COSTS ATHLED DURING PRODUCTION VOLUME VARIAVE FELLIGE STANDA COSTS APPLIER Det MA35 - 5.000. Nude H. LABORA 5117.500 DES Chat ANTONALNOGET ... Product Varie The FIXED production overhead was expected to incur 515.000.000 ONLY AND SIES The- The food overhead standard cost $12.50 per nut was under-applied for the 200,000 units of production shortfall $12.50 $200,000 under production - $2,500,000 of Production Volume Variance Ul. An ADJUSTED into come statement follows SORIANO Flexible-Budget CASE SUPPLEMENT 2 CHAPTER 10 1C-2 SORIANO WOULD LIKE TO EVALUATE PRODUCTION FUNCTIONS PERFORMANCE TO CONTROL COSTS. YOU'RE ASKED TO PREPARE A FLEXIBLE COST BUDGET based on the actual units produce COMPARE IT TO THE STANDARD COSTS APPLIED DURING 2017 calent the PRODUCTION VOLUME VARIANCESS The prepare the ADJUSTED INTERIM INCOME STATEMENT, wure crash A. The Solution for enter THE ADJUSTED INTERIM INCOME STATEMENT FOR 2017 Revue 1.000.000 WAS Price 550. SOLO 000 Le Sundard COGS 10,00 Total Standard Costs Erth FLEXIBLE BUDGET Production Ohad FIXED portale per pened 5.000.000 Stein SDUA S2 - 12.500.000 Product Volmer... Les Adobe Predict Adjusted to Grow Profit Le Selling and Admin Expom FIXED by 12.000.000 Open Office