Question
Kanco Industries has a relevant range extending to 30,400 units each month. The following performance report provides information about Kanco's budget and actual performance
Kanco Industries has a relevant range extending to 30,400 units each month. The following performance report provides information about Kanco's budget and actual performance for June. (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.) Kanco Industries () Data table - 1 Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget 2 3 Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible Volume Flexible Actual Output units 24,000 variance Budget Variance Master Budget budget 4 Actual variance Flexible Volume Budget Variance Master Budget 24000 30,400 5 Output units 24,000 ? 30,400 Sales revenue $ 225,000 $ 5,400 F 219600 Less: Variable expenses 175,200 U Contribution margin $ 49,800 U Less: Fixed expenses 16,500 F $ 33,300 U Operating income U 6 Sales revenue $225,000 $5,400 F ? ? ? F $ 191,520 7 Less: Variable expenses 175,200 ? ? ? $ 191.520 U 8 Contribution margin ? ? ? ? ? 23,000 9 Less: Fixed expenses 16,500 ? ? ? 23.000 U 10 Operating Income ? ? ? ? ? Print Done
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