Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Tanco Industries has a relevant range extending to 30,800 units each month. The following performance report provides information about Tanco's budget and actual performance fo
Tanco Industries has a relevant range extending to 30,800 units each month. The following performance report provides information about Tanco's budget and actual performance fo September. (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.) \begin{tabular}{|c|c|c|c|c|c|c|} \hline & A & B & C & D & E & F \\ \hline 1 & \multicolumn{6}{|c|}{ Tanco Industries } \\ \hline 2 & \multicolumn{6}{|c|}{ Flexible Budget Performance Report: Sales and Operating Expenses } \\ \hline 3 & \multicolumn{6}{|c|}{ For the Month Ended September 30} \\ \hline 4 & & Actual & \begin{tabular}{c} Flexible \\ budget \\ variance \\ \end{tabular} & \begin{tabular}{c} Flexible \\ Budget \\ \end{tabular} & \begin{tabular}{c} Volume \\ Variance \end{tabular} & \begin{tabular}{l} Master \\ Budget \end{tabular} \\ \hline 5 & Output units & 27,000 & & ? & & 30,800 \\ \hline 6 & Sales revenue & $253,500 & $5,100F & ? & ? & ? \\ \hline 7 & Less: Variable expenses & 180,900 & ? & ? & ? & 189,420 \\ \hline 8 & Contribution margin & ? & ? & ? & ? & ? \\ \hline 9 & Less: Fixed expenses & 17,000 & ? & ? & ? & 25,000 \\ \hline 10 & Operating income & ? & ? & ? & ? & ? \\ \hline \end{tabular}
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