Question
Please show all work Use the following performance report for a profit center of Portia Corporation for the month ended December 31 to answer the
Please show all work
Use the following performance report for a profit center of Portia Corporation for the month ended
December 31 to answer the questions below. CALCULATE AND RECORD ALL OF THE MISSING INFORMATION
| Actual Results | Variance | Master Budget | |
| Sales | $ ? | $5 (F) | $ 185 |
| Controllable variable costs | |||
| Variable cost of goods sold | $ 120 | $5 (U) | $ ? |
| Variable selling and administrative expenses | 10 | ? | 16 |
| Contribution margin | $ 60 | $ ? | $ 54 |
| Controllable fixed costs | ? | 0 | 50 |
| Profit center income | $ ? | $6 (F) | $ ? |
| Performance measures | |||
| Number of orders processed | 30 | 5 (F) | ? |
| Average daily sales | $? | 0.5 (U) | $5.00 |
| Number of units sold | 40 | 5 (F) | ? |
Using the information provided above for Portia Corporation, what were the actual sales?
| a. | $185 |
| b. | $35 |
| c. | $190 |
| d. | $40 |
Using the information provided for Portia Corporation, what was the actual profit center income?
| a. | $10 |
| b. | $6 |
| c. | $4 |
| d. $54
|
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
Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
4th edition
78025524, 978-0078025525
