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The Everlasting Balloon Company produces panty balloons that are sold in multipack cases. Following is the company's performance report in contribution margin format for July en click the icon to view the performance report in contribution margin format) Read the moments Requirement 1. What is the budgeted sales price per unit? The budgeted sale price Requirements Xata table 1 The Eve Actual vs. 2 3 Fort 1. What is the budgeted sales price per unit? 2. What is the budgeted variable expense per unit? 3. What is the budgeted fixed cost for the period? 4. Compute the master budget variances Be sure to indicate each variance as favorable (F) or unfavorable (0) 5. Management would like to determine the portion of the master budget variance that is (a) due to volume being different than originally anticipated and (b) due to some other unexpected cause. Prepare a flexible budget performance report to address these questions, using the actual sales volume of 61,500 units and the budgeted sales volume of 58.000 units. Use the original budget assumptions for sales price variable cost per unit, and feed costs, assuming the relevant range stretches from 53.000 10 71 500 units 6. Using the fable budget performance report you prepared for Requirement 5 answer the following questions How much of the master budget variance (calculated in Requirement 4) for operating income is due to volume being higher than expected? b. How much of the master budget variance for variable expenses is due to some cause other than volume? 4 Sales volume (number of 5 sold) 6 Sales revenue 7 Less: Variable expenses 8 Contribution margin 9 Less: Foed expenses a. 0 Requirements X Jata table D 1 2 3 The Everlasting Balloon Company Actual vs Budget Performance Report For the Month Ended July 31 Master Mester Budget Valance Actual Budget 1. What is the budgeted sales price per unit? 2. What is the budgeted variable expense per unit? 3. What is the budgeted fixed cost for the period? 4. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (U) 5. Management would like to determine the portion of the master budget variance that is (a) due to volume being different than originally anticipated and (b) due to some other unexpected cause. Prepare a flexible budget performance report to address these questions, using the actual sales volume of 51.500 units and the budgeted sales volume of 58.000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 53 000 to 71,500 units 6. Using the flexible budget performance report you prepared for Requirement 5 answer the following Questions How much of the master budget variance (calculated in Requirement 4 for operating income is due to volume being higher than expected? b. How much of the master budget variance for variable expenses is due to some cause other than volume? C. What could account for the flexible budget variance for sales revenue? d. What is the volume variance for fored expenses? Why is it this amount? 4 Sales volume number of cases S soldi 6 Sales revenue 7 Less: Variable expenses 8 Contribution margin 9 Les Fixed expenses 10 Operating income 61.500 58,000 $ 1776005 156.600 12.100 69 660 $95 500 5 87 000 73.800 72.000 S 21.700 15,000 Print Done Print Done Requirements 1. What is the budgeted sales price per unit? 2. What is the budgeted variable expense per unit? 3. What is the budgeted fixed cost for the period? 4. Compute the master budget variances. Be sure to indicate each variance as favorable For unfavorable (US) 5. Management would like to determine the portion of the master budget variance that is a due to volume being different than originally anticipated and (b) due to some other unexpected cause Prepare a flexible budget performance report to address these questions, using the actual sales volume of 6500 units and the budgeted sales volume of 58.000 units. Use the original budget assumptions for sales price, variable cost per unit and fixed costs, assuming the relevant range stretches from 53.000 to 71.500 units 6. Using the flexible budget performance report you prepared for Requirement 51 answer the following questions How much of the master budget variance (calculated in Requirement for operating income is due to volume being higher than expected? b. How much of the master budget variance for variable expenses is due to some cause other than volume? What could account for the flexible budget variance for sales revenue d. What is the volume variance for fixed expenses? Why is it this amount? a. c. A B D 2 The Everlasting Balloon Company Actual vs. Budget Performance Report For the Month Ended July 31 3 Master Budget Master Budget Variance Actual 4 Sales volume (number of cases 5 sold) 61,500 58,000 6 Sales revenue $ 177 600 S 156,600 82.100 69.600 7 Less: Variable expenses 8 Contribution margin $ 95.500 5 87 000 73,800 72,000 9 Less: Fixed expenses $ 21.700$ 15,000 10 Operating income The Everlasting Balloon Company produces panty balloons that are sold in multipack cases. Following is the company's performance report in contribution margin format for July en click the icon to view the performance report in contribution margin format) Read the moments Requirement 1. What is the budgeted sales price per unit? The budgeted sale price Requirements Xata table 1 The Eve Actual vs. 2 3 Fort 1. What is the budgeted sales price per unit? 2. What is the budgeted variable expense per unit? 3. What is the budgeted fixed cost for the period? 4. Compute the master budget variances Be sure to indicate each variance as favorable (F) or unfavorable (0) 5. Management would like to determine the portion of the master budget variance that is (a) due to volume being different than originally anticipated and (b) due to some other unexpected cause. Prepare a flexible budget performance report to address these questions, using the actual sales volume of 61,500 units and the budgeted sales volume of 58.000 units. Use the original budget assumptions for sales price variable cost per unit, and feed costs, assuming the relevant range stretches from 53.000 10 71 500 units 6. Using the fable budget performance report you prepared for Requirement 5 answer the following questions How much of the master budget variance (calculated in Requirement 4) for operating income is due to volume being higher than expected? b. How much of the master budget variance for variable expenses is due to some cause other than volume? 4 Sales volume (number of 5 sold) 6 Sales revenue 7 Less: Variable expenses 8 Contribution margin 9 Less: Foed expenses a. 0 Requirements X Jata table D 1 2 3 The Everlasting Balloon Company Actual vs Budget Performance Report For the Month Ended July 31 Master Mester Budget Valance Actual Budget 1. What is the budgeted sales price per unit? 2. What is the budgeted variable expense per unit? 3. What is the budgeted fixed cost for the period? 4. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (U) 5. Management would like to determine the portion of the master budget variance that is (a) due to volume being different than originally anticipated and (b) due to some other unexpected cause. Prepare a flexible budget performance report to address these questions, using the actual sales volume of 51.500 units and the budgeted sales volume of 58.000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 53 000 to 71,500 units 6. Using the flexible budget performance report you prepared for Requirement 5 answer the following Questions How much of the master budget variance (calculated in Requirement 4 for operating income is due to volume being higher than expected? b. How much of the master budget variance for variable expenses is due to some cause other than volume? C. What could account for the flexible budget variance for sales revenue? d. What is the volume variance for fored expenses? Why is it this amount? 4 Sales volume number of cases S soldi 6 Sales revenue 7 Less: Variable expenses 8 Contribution margin 9 Les Fixed expenses 10 Operating income 61.500 58,000 $ 1776005 156.600 12.100 69 660 $95 500 5 87 000 73.800 72.000 S 21.700 15,000 Print Done Print Done Requirements 1. What is the budgeted sales price per unit? 2. What is the budgeted variable expense per unit? 3. What is the budgeted fixed cost for the period? 4. Compute the master budget variances. Be sure to indicate each variance as favorable For unfavorable (US) 5. Management would like to determine the portion of the master budget variance that is a due to volume being different than originally anticipated and (b) due to some other unexpected cause Prepare a flexible budget performance report to address these questions, using the actual sales volume of 6500 units and the budgeted sales volume of 58.000 units. Use the original budget assumptions for sales price, variable cost per unit and fixed costs, assuming the relevant range stretches from 53.000 to 71.500 units 6. Using the flexible budget performance report you prepared for Requirement 51 answer the following questions How much of the master budget variance (calculated in Requirement for operating income is due to volume being higher than expected? b. How much of the master budget variance for variable expenses is due to some cause other than volume? What could account for the flexible budget variance for sales revenue d. What is the volume variance for fixed expenses? Why is it this amount? a. c. A B D 2 The Everlasting Balloon Company Actual vs. Budget Performance Report For the Month Ended July 31 3 Master Budget Master Budget Variance Actual 4 Sales volume (number of cases 5 sold) 61,500 58,000 6 Sales revenue $ 177 600 S 156,600 82.100 69.600 7 Less: Variable expenses 8 Contribution margin $ 95.500 5 87 000 73,800 72,000 9 Less: Fixed expenses $ 21.700$ 15,000 10 Operating income
