Data Table 182,100 Flowing Bubbles, Inc. Income Statement Month Ended July 31 Sales revenue ................ $ Variable expenses: Cost of goods sold ...... Sales commissions Utility expense Fixed expenses: Salary expense Depreciation expense .. Rent expense ........ 75,750 15,100 9,000 32,200 20,000 10,750 6,000 Utility expense Total expenses. ........ Se s . . . . . . . . . . . . . . . . . . $ $ 168,800 13,300 Operating income ...... Print Print Done Done A Data Table Flowing Bubbles, Inc. Flexible Budget Income Statement Month Ended July 31 Flexible Budget per Output Unit Output Units (Kits) 55,000 60,000 65,000 $ 2.90 $ 159,500 $ 174,000 $ 188,500 Sales revenue Variable expenses: Cost of goods sold 1.25 68,750 75,000 81,250 Sales commissions 0.20 12,000 13,000 11,000 8,250 Utility expense 0.15 9,000 9,750 Fixed expenses: Salary expense Depreciation expense Rent expense 30,000 20,000 11,000 6,000 155,000 $ 4,500 $ 30,000 20,000 11,000 6,000 33,000 23,000 15,000 6,000 Utility expense Total expenses $ $ 163,000 $ 11,000 $ 181,000 7,500 Operating income Print Done balance, make sure to enler "O' in the appropriale column. Label each variance as Requirement 1. Prepare the inexxne slalernenl performance report. Nole: The master budgel was based on expecled sales volume of 55,000 bubble kils. (For accounts with a favorable (F) or unfavorable (U). A variance of zero is considered favorable.) Flowing Bubbles, Inc. Income Statement Performance Report For the month ended July 31 Actual Flexible Flexible Budget Variance Volume Varlance Master Budget Budget Output units Sales revenue Variable expenses: Cost of goods sold Sales commissions expense Utility expense Fixed expenses. Salary expense Depreciation expense Rent expense LU LUULL Utility expense TotalcXXS Data Table 182,100 Flowing Bubbles, Inc. Income Statement Month Ended July 31 Sales revenue ................ $ Variable expenses: Cost of goods sold ...... Sales commissions Utility expense Fixed expenses: Salary expense Depreciation expense .. Rent expense ........ 75,750 15,100 9,000 32,200 20,000 10,750 6,000 Utility expense Total expenses. ........ Se s . . . . . . . . . . . . . . . . . . $ $ 168,800 13,300 Operating income ...... Print Print Done Done A Data Table Flowing Bubbles, Inc. Flexible Budget Income Statement Month Ended July 31 Flexible Budget per Output Unit Output Units (Kits) 55,000 60,000 65,000 $ 2.90 $ 159,500 $ 174,000 $ 188,500 Sales revenue Variable expenses: Cost of goods sold 1.25 68,750 75,000 81,250 Sales commissions 0.20 12,000 13,000 11,000 8,250 Utility expense 0.15 9,000 9,750 Fixed expenses: Salary expense Depreciation expense Rent expense 30,000 20,000 11,000 6,000 155,000 $ 4,500 $ 30,000 20,000 11,000 6,000 33,000 23,000 15,000 6,000 Utility expense Total expenses $ $ 163,000 $ 11,000 $ 181,000 7,500 Operating income Print Done balance, make sure to enler "O' in the appropriale column. Label each variance as Requirement 1. Prepare the inexxne slalernenl performance report. Nole: The master budgel was based on expecled sales volume of 55,000 bubble kils. (For accounts with a favorable (F) or unfavorable (U). A variance of zero is considered favorable.) Flowing Bubbles, Inc. Income Statement Performance Report For the month ended July 31 Actual Flexible Flexible Budget Variance Volume Varlance Master Budget Budget Output units Sales revenue Variable expenses: Cost of goods sold Sales commissions expense Utility expense Fixed expenses. Salary expense Depreciation expense Rent expense LU LUULL Utility expense TotalcXXS
