Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please answer fast 5 Pat Products 6 Static Budget Report 7 Month Ended October 31, 2020 8 9 Static 10 Budget Actual Variance 11 Sales
please answer fast
5 Pat Products 6 Static Budget Report 7 Month Ended October 31, 2020 8 9 Static 10 Budget Actual Variance 11 Sales in units 8,000.00 9,000.00 12 Variable costs: 13 Sales commissions $ 2,800.00 $3,000.00 $ 200.00 U 14 Travel expense $ 2,400.00 $ 2,400.00 $ 15 Meals expense $ 1,300.00 $ 1,500.00 $ 200.00 U 16 Entertainment expense $ 4,000.00 $ 3,600.00 $ 400.00 F 17 Total variable costs $ 10,500.00 $ 10,500.00 $ 18 Fixed costs: 19 Sales salaries $ 1,000.00 $ 1,000.00 $ 20 Total costs $ 11,500.00 $ 11,500.00 $ 1 Required: a) Prepare a flexible budget for October in good form. (9 marks) b) Should Sam be praised or reprimanded for their performance in October? (1 mark) c) In November, sales are 7,000 units. Actual variable costs decreased by 10% except for entertainment expense which stayed the same. Actual fixed costs did not change from September. Prepare a flexible budget for November 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