Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chapter 8 question 2Bay city company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed

Chapter 8 question 2Bay city company's fixed budget performance report for July follows. The $440,000 budgeted total expenses include $300,000 variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed expenses. I can't seem to get all these answers right. There's another line in the blue chart with fill in the blanks and some of my answers I have entered in it says is wrong

image text in transcribed
Chapter 8 Homework Saved Help Save & Exit Submit Check my work 2 Fixed Budget Actual Variances Results Sales (in units) 6,000 4,900 Sales (in dollars) $480,000 $ 436, 100 $43, 900 U Total expenses 440, 000 408, 000 32,000 F 3 Income from operations $ 40,000 $ 28, 100 $ 11, 900 U points Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and eBook variable expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not Hint round your intermediate calculations. Round your final answers to whole dollars.) Print BAY CITY COMPANY Flexible Budget Performance Report For Month Ended July 31 Flexible budget Actual results Variances Fav./Unf. Sales 480,000 $ 436, 100 $ 43,900 Unfavorable Variable expenses (300,000) (278,000) 22,000 Favorable Fixed expenses (140,000) (130,000) 10,000 Favorable Inprima from Anaralinne an non? 28 100 11 ann n Infaunrahla Mc Graw Hill

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Intermediate Accounting

Authors: James D. Stice, Earl K. Stice, Fred Skousen

16th Edition

324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140

Students also viewed these Accounting questions