Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solve number 5 please accrpding to the table Miller Toy Company Flexible Budget Report - August Revenue/Spending Variance August Actual Note 3 F/U Flexible Budget

solve number 5 please accrpding to the table
image text in transcribed
Miller Toy Company Flexible Budget Report - August Revenue/Spending Variance August Actual Note 3 F/U Flexible Budget (calculate) 7,450 Budgeted # of units from le 7,450 0 -- $354,640 $345,429 6,289 $98,414.50 U Sales Revenue Cost of Goods Sold: Direct Material Direct Labor Variable overhead Variable selling Expense Total Variable Expenses 4006.50 1,636 U $102,421 $28,158 $11,532 $25,000 $167,111 $26,522 $10,951.50 580.50 U 0 -- $25,000 $160,888 6,223 U $187,529 $184,541 2.988 F Contribution Margin Fixed Expenses: Overhead S&A Expenses Total Fixed expenses S66,000 $91,000 $157,000 $66,000 $91,000 $157,000 0 0 0 Net Operating Income $30,529 $27,541 2,988 F Notes Amounts for Sales, DM, DL, and VOH should be from the last column in 3. Other amounts should be equal to the "flexible budget" column here. 5) For the revenue variance, give an example of a situation that would result in such a variance. Use full 20 to 30 words and full sentences. Note - I am looking for an example", not an explanation - describe a situation that would CAUSES this type of variance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Tracking Your Trek Looking Backward To Determine Your Forward

Authors: Erica Pauly

1st Edition

979-8839157330

More Books

Students also viewed these Accounting questions