Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kanco Industries has a relevant range extending to 32,000 units each month. The following performance report provides information about Kanco's budget and actual performance for

image text in transcribedimage text in transcribed

Kanco Industries has a relevant range extending to 32,000 units each month. The following performance report provides information about Kanco'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. (Enter the variances as positive numbers. If the variance is 0, make sure to enter in a "0". Label each variance as favorable (F) or unfavorable (U). Round intermediary calculations to the nearest cent.) Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended November 30 Flexible budget Flexible Volume Actual variance Budget Variance Master Budget Output units 25,000 25000 32,000 Sales revenue 5,500 F $ 243,000 $ 182,500 Less: Variable expenses $ 195,200 Contribution margin 60500 Less: Fixed expenses 17,000 22,500 43500 Operating income X i Data Table Kanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended November 30 Flexible budget Flexible Volume Actual variance Budget Variance Master Budget Output units 25,000 ? 32,000 Sales revenue 243,000 $ 5,500 F ? ? ? Less: Variable expenses 182,500 ? ? ? $ 195,200 Contribution margin ? ? ? ? ? Less: Fixed expenses 17,000 ? ? ? 22,500 ? ? ? ? ? Operating income Print Done

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_2

Step: 3

blur-text-image_3

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

Introduction To Managerial Accounting

Authors: Jeannie Folk, Ray Garrison, Eric Noree

1st Edition

0072468440, 978-0072468441

More Books

Students also viewed these Accounting questions

Question

LO7 describe the objective of financial reports (1.8)

Answered: 1 week ago

Question

Write short notes on Interviews.

Answered: 1 week ago