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New set of numbers are provided in the last picture. Thank you in advance! no extra inforamtion required Requirement 2. What are the actual and
New set of numbers are provided in the last picture. Thank you in advance!
no extra inforamtion required
Requirement 2. What are the actual and budgeted selling prices? What are the actual and budgeted variable costs per unit? (Round your answers to the nearest cent.) The actual selling price is The actual variable cost is Requirement 3, Review the variances you have calculated and discuss possible causes and potential problems. What is the important lesson leamed here? Actual variable costs causing a(n) flexible-budget variable cost variance, This variance could be a result of a(n) in direct material prices. (Round percentage to the nearest whole number.) Putnam was able to pass most of the change in direct material prices on to its customers. Actual selling price by approximately %, bringing about an offsetting flexible-budget revenue variance. A(n) in the actual number of units sold contributed to more results. Putnam's customers may have anticipating future in direct material prices. The important lesson learned here is that A. a superficial examination of summary level dala may be insufficient. It is imperative to scrutinize data at a more detailed level. Had Putnam not been able to pass costs on to customers, losses might have been considerable. B. an examination of summary level data is usually sufficient. As long as sales-volume variances are favorable, it is not imperative to scrutinize Requirement 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) Begin with the flexible budget columns, then the sales volume variance column. Label each variance as favorable (F) or unlavorable (U). (For variances with a $0 balance, make sure to enter " 0 " in the appropriate field. If the variance is zero, do not select a label. Round your answers to the nearest whole dollar.) Calculate the total static-budget variance to verify your work is accurate. Determine the labels and then enter the amounts to calculate the static-budget variance. (For variances with a $0 balance, make sure to enter " 0 " in the appropriate field. If the variance is zero, do not select a label. Abbreviation used: CM= contribution margin.) \begin{tabular}{|c|c|c|c|c|} \hlinex & & \begin{tabular}{l} tual \\ sults \end{tabular} & \begin{tabular}{c} Flexible-Budget \\ Variance \end{tabular} & \begin{tabular}{l} Flexible \\ Budget \end{tabular} \\ \hline Units sold & & 102,000 & & \\ \hline Revenues (sales) & $ & 693,600 & & \\ \hline Variable costs & & 450,000 & & \\ \hline Contribution margin & & 243,600 & & \\ \hline Fixed costs & & 141,600 & & \\ \hline Operating income & $ & 102,000 & & \\ \hline \end{tabular} Step by Step Solution
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