Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help sovling this accounting question. it was to long to fit in one photo so I had to post two. please help! thanks

I need help sovling this accounting question. it was to long to fit in one photo so I had to post two. please help! thanks in advance!
image text in transcribed
image text in transcribed
0 Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.) The fixed budget for 21700 units of production shows sales of S629,300; variable costs of $65,100; and fixed costs of $142,000. QS 21-3 (Algo) Flexible budget income calculation LO P1 of the company actually produces and sells 26,900 units, calculate the flexible budget Income. Sales Variable costs Contribution margin Fixed costs -Flexible Budget.... -...Flexible Budget at Variable Amount Total Fixed + 21,700 units per Unit Cost 26,900 units 29 $ 629,300 3 65,100 $ 26 $ 564,200 $ 0 $ 142,000 142,000 142,000 $ 422,200 $ (142,000) income Required information Use the following information for the Quick Study below. (Algo) (The following information applies to the questions displayed below) The fixed budget for 21700 units of production shows sales of $629,300; variable costs of $65,100; and fixed costs of $142,000. QS 21-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,900 units at $731,100. Actual variable costs were $113,100 and actual fixed costs were $130,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Flexible Budget Performance Report Flexible Budget Actual Results Variances $ Favorable/ Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable Contribution margin 731,100 113,100 618,000 130,000 488,000 0 142.000 (142,000) $ $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Students also viewed these Accounting questions

Question

citation information for each source

Answered: 1 week ago