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help please! thank you Ot Carlson Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted to manufacture and sell
help please! thank you
Ot Carlson Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,700 tires at a variable cost of $77 per tire and total fixed costs of $54,000. The budgeted selling price was $107 per tire. Actual results in August 2017 were 3,600 tires manufactured and sold at a selling price of $109 per tire. The actual total variable costs were $302,400, and the actual total fixed costs were $51,000. Read the requirements Requirement 1. Prepare a performance report that uses a flexible budget and a static budget. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter "0" in the appropriate field If the variance is zero, do not select a label) Actual Flexible-Budget Flexible Sales-VolumeStatic Results Budget Variances Budget Units sold Variable costs Contribution margin Fixed costs Operating income Requirement 2. Comment on the results in requirement 1 The total static-budget variance in operating income is $ variance and a(n) manufactured and sold were primarily to the There is a(n) sales-volume variance. The sales-vblume variance arises solely because actual units than the budgeted 3,700 units. The flexible-budget variance in operating income is due in unit variable costs Choose from any list or enter any number in the input fields and then continue to the next question. for LaterStep by Step Solution
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