Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Janco Industries has a relevant range extending to 30,000 units each month. The following performance report provides information about Janco's budget and actual performance for
Janco Industries has a relevant range extending to 30,000 units each month. The following performance report provides information about Janco's budget and actual performance for November. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) X Data Table HE Janco Industries A B D E F 1 Janco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended November 30 Flexible budget Flexible Volume Actual variance Budget Variance 25,000 25,000 2 3 Master Budget 30,000 Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended November 30 Flexible budget Flexible Volume Actual variance Budget Variance Output units Master Budget 4 $ 235,000 $ 47,000 $ 282,000 5 Output units 25,000 ? 30,000 Sales revenue Less: Variable expenses Contribution margin $ 240,000 $ 172,500 $ 67,500 5,000 F F $ $ 187,500 $ 240,000 $5,000 F ? ? ? 6 Sales revenue 7 Less: Variable expenses 172,500 ? ? ? $ 187,500 Less: Fixed expenses 19,500 25,500 8 Contribution margin ? ? ? ? ? Operating income 9 Less: Fixed expenses 19,500 ? ? ? ? 25,500 ? ? ? 10 Operating income ? ? Print Done Choose from any list or enter any number in the input fields and then click Check
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started