Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sanco Industries has a relevant range extending to 30,400 units each month. The following performance report provides information about Sanco's budget and actual performance
Sanco Industries has a relevant range extending to 30,400 units each month. The following performance report provides information about Sanco's budget and actual performance for June. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Sanco Industries Data table - Flexible Budget Performance Report: Sales and Operating Expenses A B C D E F For the Month Ended June 30 1 Sanco Industries Flexible budget Flexible Actual variance Budget Volume Variance 2 Master Budget 3 Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Output units 24,000 24000 30,400 Flexible budget 4 Actual variance Flexible Budget Volume Variance Master Budget Sales revenue $ 225,000 $ 5,400 F 219600 5 Output units 24,000 ? 30,400 Less: Variable expenses 175,200 $ 191,520 6 Sales revenue $ 225,000 $5,400 F ? ? ? Contribution margin 49800 7 Less: Variable expenses 175,200 ? ? ? $ 191,520 Less: Fixed expenses 18,500 24,000 8 Contribution margin ? ? ? ? ? 31300 Operating income 9 Less: Fixed expenses 18,500 ? ? ? 24,000 10 Operating income ? ? ? ? ?
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