How do I create also a Segmented Income Statement and a budget plan?
Todd's Car Repair Income Statement: 2020 2020 EXPENSE BREAKOUT: Actual Budget Variable: Material, Labor and Disposal $ 1,060,500 $ 1,101,600 Fixed: Rent, Utilities, Supervision, Depreciation, Maintenance, Insurance, IT/Phone, Supplies, Advertising Revenues Three Products: Oil Changes Brakes Tires Direct Mat 475,250 Direct Labc 224,680 Disposal 35,000 Rent 42.000 Utilities 22.000 Supervisior 50,000 Depreciatic 50,000 Maintenan 12.000 Cost of Goods Sold $ 910,930 S Gross Profit $ 149,570 S BUDGET Oil Brakes Tires 511,020 of activiti 6,120 1.530 918 233,325 Sales Price 25 200 700 35,190 Labor hour! 0.35 2.00 4.50 42,000 Labor costs 25 5 25 S 25 24,000 Material cos 6 S 70 $ 400 50,000 Disposal cos 25 50,000 7,000 ACTUAL Oil Brakes Tires 952,535 F of activiti 7,000 1,400 800 149,065 Average 5a 24 210 749.12 Average M: 7.25 65 416.88 Average Lal 0.32 2.115 4.3 Average Lal 26 26 3,000 Average Did 25 0 21.88 3,000 Put any rounding in Tires 5,000 REQUIREMENTS 21,000 Reqt 1a - Prepare Contribution Margin Income Statements from actual and budgeted 2020 in proper columns Reqt 1b - Prepare a Flexible Budget for 2020 in proper column of the Flexible Budget Report. 128,065 Reqt 1c - Review the report and identify which variances should be investigated further and why- Selling & Administrative Insurance IT/Phone Supplies Advertising Total Selling & Adminis 12.000 3,250 2.800 6,000 24,050 $ Operating Income S 125,520 $ Todd's Car Repair Income Statement: 2020 2020 EXPENSE BREAKOUT: Actual Budget Variable: Material, Labor and Disposal $ 1,060,500 $ 1,101,600 Fixed: Rent, Utilities, Supervision, Depreciation, Maintenance, Insurance, IT/Phone, Supplies, Advertising Revenues Three Products: Oil Changes Brakes Tires Direct Mat 475,250 Direct Labc 224,680 Disposal 35,000 Rent 42.000 Utilities 22.000 Supervisior 50,000 Depreciatic 50,000 Maintenan 12.000 Cost of Goods Sold $ 910,930 S Gross Profit $ 149,570 S BUDGET Oil Brakes Tires 511,020 of activiti 6,120 1.530 918 233,325 Sales Price 25 200 700 35,190 Labor hour! 0.35 2.00 4.50 42,000 Labor costs 25 5 25 S 25 24,000 Material cos 6 S 70 $ 400 50,000 Disposal cos 25 50,000 7,000 ACTUAL Oil Brakes Tires 952,535 F of activiti 7,000 1,400 800 149,065 Average 5a 24 210 749.12 Average M: 7.25 65 416.88 Average Lal 0.32 2.115 4.3 Average Lal 26 26 3,000 Average Did 25 0 21.88 3,000 Put any rounding in Tires 5,000 REQUIREMENTS 21,000 Reqt 1a - Prepare Contribution Margin Income Statements from actual and budgeted 2020 in proper columns Reqt 1b - Prepare a Flexible Budget for 2020 in proper column of the Flexible Budget Report. 128,065 Reqt 1c - Review the report and identify which variances should be investigated further and why- Selling & Administrative Insurance IT/Phone Supplies Advertising Total Selling & Adminis 12.000 3,250 2.800 6,000 24,050 $ Operating Income S 125,520 $
