Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kanco Industries has a relevant range extending to 30,500 units each month. The following performance report provides information about Kanco's budget and actual performance

image text in transcribed

Kanco Industries has a relevant range extending to 30,500 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 Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget 1 B Kanco Industries E F Flexible Volume 2 Actual Output units 28,000 variance Budget Variance Master Budget 3 Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 30,500 4 Actual Flexible budget variance Flexible Volume Budget Variance Master Budget Sales revenue $ 252,000 $ 5,600 F Less: Variable expenses 204,400 Contribution margin Less: Fixed expenses Operating income 16,500 5 Output units 28,000 7 30,500 $ 189,100 6 Sales revenue $ 252,000 $5,600 F ? ? ? 7 Less: Variable expenses 204,400 ? ? ? S 189,100 22,500 8 Contribution margin ? ? 7 ? 7 9 Less: Fixed expenses 16,500 ? ? ? 22,500 10 Operating income ? ? ? ? ? Help me solve this Video Get more help Print Done - X

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

Recommended Textbook for

Managerial Accounting

Authors: Karen W. Braun, Wendy M. Tietz

3rd edition

132890542, 978-0132890540

More Books

Students also viewed these Accounting questions

Question

Outline five major criticisms of humanistic psychologies.

Answered: 1 week ago

Question

How do you get started on building leadership capacity?

Answered: 1 week ago