Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chapter 16 question 4 Nottingham Forest Products reports the following information concerning operations for the most recent month: Actual (based on actual sales of 4,920
Chapter 16 question 4
Nottingham Forest Products reports the following information concerning operations for the most recent month:
Actual (based on actual sales of 4,920 units) | Master Budget (based on budgeted sales of 4,100 units) | |
---|---|---|
Sales revenue | $ 234,700 | $ 192,700 |
Less | ||
Manufacturing costs | ||
Direct labor | 50,342 | 39,040 |
Materials | 31,560 | 27,240 |
Variable overhead | 16,648 | 13,140 |
Marketing | 7,845 | 6,240 |
Administrative | 7,255 | 6,540 |
Total variable costs | $ 113,650 | $ 92,200 |
Contribution margin | $ 121,050 | $ 100,500 |
Fixed costs | ||
Manufacturing | 38,990 | 37,440 |
Marketing | 14,900 | 12,240 |
Administrative | 9,570 | 10,440 |
Total fixed costs | $ 63,460 | $ 60,120 |
Operating profits | $ 57,590 | $ 40,380 |
There are no inventories.
Required:
Prepare a flexible budget for Nottingham Forest Products.
Note: Do not round intermediate calculations.
I need the chart answered asap please
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started