Required:
Prepare a profit variance analysis for Odessa, Inc. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Enter your final answers as a whole number.)
Required:
Prepare a profit variance analysis for Odessa, Inc. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Enter your final answers as a whole number.)
Odessa, Inc., reports the following information concerning operations for the most recent month: Actual (based on actual of 495 units) $85,810 Master Budget (based on budgeted 550 units) $93,500 Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits 12,438 10,110 7,040 4,608 3,850 $38,046 $47,764 13,200 12,100 8,800 5,280 3,850 $43,230 $50,270 4,270 9,184 8,763 $22,217 $25,547 4,400 8,800 8,800 $22,000 $28,270 There are no inventories. ODESSA, INC. Profit Variance Analysis Flexible Actual 495 Units) Manufacturing Variance Marketing and Administrative Variance Sales Price Variance Master Budget (Units) Sales Activity Variance Budget (550 Units) S 93,500 S 85,810 Sales revenue Variable costs: Manufacturing costs: Direct labor 13,200 12,438 10.110 7,040 12.100 8,800 Materials Overhead Marketing Administrative 4,608 3,850 5,280 3,850 50.270 S 47,7641 S Contribution margin Fixed costs: S 4,400 8,800 Manufacturing Marketing Administrative Operating profits 4,270 9,184 8,763 25,547 8,800 S S 28,270 Odessa, Inc., reports the following information concerning operations for the most recent month: Actual (based on actual of 495 units) $80,320 Master Budget (based on budgeted 550 units) $88,000 Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits 12,446 10,120 7,030 4,545 3,850 $37,991 2,329 13,200 12,100 8,800 5,225 3,850 $43, 175 825 4,270 9,188 8,755 $22, 213 $20,116 4,400 8,800 8,800 $22,000 $22,825 There are no inventories. ODESSA, INC. Profit Variance Analysis Actual 495 Units) Manufacturing Variance Marketing and Administrative Variance Sales Price Variance Flexible Budget (Units) Master Sales Activity Variance Budget (550 Units) S 88,000 S 80,320 Sales revenue Variable costs: Manufacturing costs: Direct labor 13,200 12.446 10,120 Materials 12,100 7,030 8,800 Overhead Marketing 4,545 5,225 3,850 3,850 42,329 S S 44,825 Administrative Contribution margin Fixed costs: Manufacturing Marketing Administrative Operating profits S 4.400 4,270 9,188 8,755 20.116 8,800 8,800 S S 22,825
