Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Peters' Company manufactures tires. Some of the company's data was misplaced. Use the following information to replace the lost data: (U: unfavorable, F: favorable) Actual
Peters' Company manufactures tires. Some of the company's data was misplaced. Use the following information to replace the lost data: (U: unfavorable, F: favorable) Actual Results Variances Flexible-Budget Flexible Budget Sales-Volume Static Variances Budget Units sold 225,000 225,000 206,250 Revenues $84,160 $2,000 F (A) $2,800 U Variable costs (B) $400 U $31,720 $4,680 F $36,400 Fixed costs Operating income $16,560 $1,720 F $18,280 0 $18,280 $32,160 $30,280 (For each item below select from the drop-down list.) a) What is the reported revenue in the flexible-budget (A)? Ans. = $ b) What is the actual variable costs (B)? Ans. = $ c) What is the total static-budget variance for operating income? Ans. = $
Step 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