Question
Murphy Company mangers received the following incomplete performance report: Murphy Company Flexible Budget Performance Report For the Year Ended July 31, 2018 Actual Results Flexible
Murphy Company mangers received the following incomplete performance report:
Murphy Company
Flexible Budget Performance Report
For the Year Ended July 31, 2018
Actual Results | Flexible Bud. Variance | Flexible Budget | Sales Volume Variance | Static Budget | ||
Units | 35,00 | (a) | 35,000 | 5,000 | F | (g) |
Sales Revenue | $219,00 | (b) | 219,000 | 27,000 | F | (h) |
Variable Expenses | 85,000 | (c) | 84,000 | 13,000 | U | (i) |
Contribution Margin | 134,000 | (d) | 135,000 | 14,000 | F | (j) |
Fixed Expenses | 105,000 | (e) | 100,000 | 0 | (k) | |
Operating Income | 29,000 | (f) | 35,000 | 14,000 | F | (l) |
Complete the performance report. Identify the employee group that may deserve praise and the group that may be subject o criticism. Give your reasoning.
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Integrated Accounting For Windows
Authors: Dale Klooster
7th Edition
0538747978, 9780538747974
