Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Note: Please answer as soon as you can. A sincere and fast answer would be rated positive instantly. Thank you Question:1 The LM30 Company produces
Note: Please answer as soon as you can. A sincere and fast answer would be rated positive instantly. Thank you
Question:1 The LM30 Company produces circuits for TV manufacturers. A new accountant intern at LM30 has accidentally deleted the company's variance analysis calculations for the year ended December 31, 2020. The following table is what remains of the data. Performance Report, Year Ended December 31, 2020 Flexible Sales Budget Flexible Volume Actual Results Variance Budget Variances Units Sold 170,000 Revenues $1,080,000.00 Variable Costs $745,000.00 Contribution margin $335,000.00 Fixed costs $140,000.00 Operating income $195,000.00 Static Budget 150,000 $900,000.00 $600,000.00 $300,000.00 $120,000.00 $180,000.00 Required (10 Marks) A. What are the actual and budgeted selling prices? What are the actual and budgeted variable costs per unit? B. Calculate all the required variances and present the variance analysis reportStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started