Question
NancoNanco Industries has a relevant range extending to 30,800 units each month. The following performance report provides information about Nanco's. Nanco's budget and actual performance
NancoNanco
Industries has a relevant range extending to 30,800 units each month. The following performance report provides information about Nanco's. Nanco's budget and actual performance for June.
NancoNanco
Industries has a relevant range extending to
30 comma 80030,800
units each month. The following performance report provides information about
Nanco'sNanco's
budget and actual performance for
JuneJune.
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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.)
| Nanco Industries | |||||||
| Flexible Budget Performance Report: Sales and Operating Expenses | |||||||
| For the Month Ended June 30 | |||||||
|
|
| Flexible budget | Flexible | Volume |
| ||
|
| Actual | variance | Budget | Variance | Master Budget | ||
| Output units | 27,000 |
| 27000 |
| 30,800 | ||
|
|
|
|
|
| |||
| Sales revenue | $253,500 | $5,100 | F | 248400 |
| U |
|
| Less: Variable expenses | 189,000 |
| U |
|
| F | $189,420 |
| Contribution margin | 64500 |
| U |
|
| U |
|
| Less: Fixed expenses | 18,500 | F | 24000 | 0 | F | 24,000 | |
| Operating income | 46000 |
| U |
|
| U |
|
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.)
| Nanco Industries | |||||||
| Flexible Budget Performance Report: Sales and Operating Expenses | |||||||
| For the Month Ended June 30 | |||||||
|
|
| Flexible budget | Flexible | Volume |
| ||
|
| Actual | variance | Budget | Variance | Master Budget | ||
| Output units | 27,000 |
| 27000 |
| 30,800 | ||
|
|
|
|
|
| |||
| Sales revenue | $253,500 | $5,100 | F | 248400 |
| U |
|
| Less: Variable expenses | 189,000 |
| U |
|
| F | $189,420 |
| Contribution margin | 64500 |
| U |
|
| U |
|
| Less: Fixed expenses | 18,500 | F | 24000 | 0 | F | 24,000 | |
| Operating income | 46000 |
| U |
|
| U |
|
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
978-0071051507
