{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T02:38:54-04:00", "answer_date": "2024-06-29 02:38:54", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4450728", "url": "\/study-help\/questions\/summary-the-company-created-a-flexible-budgeted-income-statement-to-4450728", "question_creation_date_js": "2024-06-29T02:38:54-04:00", "question_creation_date": "Jun 29, 2024 02:38 AM", "meta_title": "[Solved] Summary: The company created a flexible b | SolutionInn", "meta_description": "Answer of - Summary: The company created a flexible budgeted income statement to compare to actual results for the year. From the | SolutionInn", "meta_keywords": "summary,company,created,flexible,budgeted,income,statement,compare,actual,results,year,data", "question_title_h1": "Summary: The company created a flexible budgeted income statement to compare to actual results for the year. From the data provided, you will calculate variances", "question_title": "Summary: The company created a flexible budgeted income statement to compare to", "question_title_for_js_snippet": "Summary The company created a flexible budgeted income statement to compare to actual results for the year From the data provided, you will calculate variances for each income statement item, analyze why certain variances have occurred, and determine what the company can do going forward to mitigate each variance Data Flexible Bu et Actual Results Sales Revenue $ 150,000 $ 135,000 Cost ofGoods Sold 90 000 81 000 Gross Prot $ 60,000 $ 54,000 Expenses Salaries 35,000 35,000 Sales Commissions 3,000 2, 00 Rent 12,000 12,000 Insurance 4,000 4,000 Supplies 400 300 Other Operating 1,100 800 Total Expenses $ 55,5 00 $ 54,800 Net Income $ 4,5 00 $ (800", "question_description": "

Summary:<\/strong><\/p>

The company created a flexible budgeted income statement to compare to actual results for the year. From the data provided, you will calculate variances for each income statement item, analyze why certain variances have occurred, and determine what the company can do going forward to mitigate each variance.<\/p>

<\/p>

Data:<\/strong><\/p>

\"image<\/div><\/div><\/div><\/figure> Flexible Bu et Actual Results Sales Revenue $ 150,000 $ 135,000 Cost ofGoods Sold 90 000 81 000 Gross Prot $ 60,000 $ 54,000 Expenses: Salaries 35,000 35,000 Sales Commissions 3,000 2,?00 Rent 12,000 12,000 Insurance 4,000 4,000 Supplies 400 300 Other Operating 1,100 800 Total Expenses $ 55,5 00 $ 54,800 Net Income $ 4,5 00 $ (800", "transcribed_text": "", "related_book": { "title": "Accounting Principles", "isbn": "1119491630, 978-1119491637, 978-0470534793", "edition": "10th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/54.jpg", "uri": "\/textbooks\/accounting-principles-10th-edition-54", "see_more_uri": "" }, "free_related_book": { "isbn": "B08QS54F8Q", "uri": "\/textbooks\/an-introduction-to-electrical-engineering-for-power-distribution-1st-edition-9798583040353", "name": "An Introduction To Electrical Engineering For Power Distribution", "edition": "1st Edition" }, "question_posted": "2024-06-29 02:38:54", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/aif-ft-6-1-t2-find-ft.-b-check", "description": "(a)If f(t) = 6\/ (1 + t2), find f(t). 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