The Everlasting Balloon Company produces party balloons that are sold in multi-pack cases. To follow is the company's performance report in contribution margin format for August E(Click the icon to view the performance report in contribution margin format.) Read the requirements Data Table Requirement 1. What is the budgeted sales price per unit? The budgeted sales price per unit is $ The Everlasting Balloon Company Actual vs. Budget Performance Report Requirement 2. What is the budgeted variable expense per unit? For the Month Ended August 31 The budgeted variable expense per unit is $ Master Requirement 3. What is the budgeted fixed cost for the period? Master Budget Variance Actual Budget The budgeted foxed cost for the period is $ Sales volume (number of cases sold) 53,500 51,000 ke to determine the portic using the actual sales voll D0 units. Requirements 4 and 5. Compute the master budget variances. Be different than originally anticipated, and (b) due to some other unexp units. Use the original budget assumptions for sales price, variable o S 158,800 $ Sales revenue 142,800 56,100 64,600 Less: Variable expenses bet column and the remai Begin by completing the actual and master budget columns of the pe whole dollar. For accounts with a 0 balance, make sure to enter "0" i Contribution margin 86,700 94,200 65,700 64,000 Less: Fixed expenses The Everlasting Ballo Flexible Budget Perforn 28,500 $ 22,700 Operating income For the Month Ended Flexible Done Print Choose from any list or enter any number in the input fields and merroormmoe The Everlasting Balloon Company produces party baloons that are soid in mut-pack cases To tollow is the company's perfomance report in conbuen margin format for August EClick the loon to view the performance report in contribution mangin format) Read the requirements Requirements 4 and 5. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (U.) Management would ke to detemine the potion of the master budget variance that is (a) due to volume being dferent than originaly anticipated, and (b) due to some other unespected cause. Prepare a flexible budget performance report to address these questons, using the actual sales volume of 53,500 units and the budgeted sales volume of 51,000 units. Use the original budget assumplions for sales price, variable cost per unit, and fxed costs, assuming the relevant range sreches from 46.000 to 68,500 units Begin by completing the actual and master budget columns of the perfomance report aand then the master budget variances. Then compute the flexbie budget column and the remaining variance columns. (Round al amounts to the rearest whole dolar. For accounts with a 0 balance, make sure to enter " in the appropriate column Label each variance as favorable (F) or unfavorable (U)) The Everlasting Balloon Company Flexible Budget Performance Report -For the Month Ended August 31 Master Flexible Budget Budget Volume Master Flexible Variance Budget Actual Variance Budget Variance Sales volume Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income Choose from any list or enter any number in the input fields and then continue to the next question The Everlasting Balloon Company produces party balloons that are sold in mu-pack cases. To follow is the company's perfomance report in contribution margin format for August m (Click the lcon to view the performance report in contribution margin format) Read the requirements Less: Variable expenses Contribution margin Less: Fixed expenses Operaing income Requirement Ga. Using the Sexible budget performance report you prepared for Requirement 5, answer the folowing quesion How much of the master budget variance (caloulated in Requirement 4) for operating income is due to volume being higher than expected? The amount of the master budget variance for operating income due to volume being higher than expected is 5 Requirement b Using the flexible budget performance eport you prepared for Requirement 5anwr the folowing question How much of the master budget variance for variable expenses is due to some cause ofher han volume? The amount of the master budget variance for variable expenses due to some cause ofther than volume is Requirement 6c. Using the fexible budget performance report you prepared for Requirement 5, answer the following question What coud account for the fexible budget variance for sales revenue? could account for the fexbie budget variance for sales revenue Requirement 6d. Using the flexible budget performance report you prepared for Requirement 5, answer the following question What is the volume variance for fixed expenses? Why is a this amount? (Enter a "0 for any zero amounts) Jamourt for fxed because the Sexible budget uses the The volume variance for faed expenses is $ expenses because fxed expenses are Choose from any list or enter any numt aflected by changes in volume assumed to be he same (fxed) at any level of activity The Everlasting Balloon Company produces party balloons that are sold in multi-pack cases. To follow is the company's performance report in contribution margin format for August E(Click the icon to view the performance report in contribution margin format.) Read the requirements Data Table Requirement 1. What is the budgeted sales price per unit? The budgeted sales price per unit is $ The Everlasting Balloon Company Actual vs. Budget Performance Report Requirement 2. What is the budgeted variable expense per unit? For the Month Ended August 31 The budgeted variable expense per unit is $ Master Requirement 3. What is the budgeted fixed cost for the period? Master Budget Variance Actual Budget The budgeted foxed cost for the period is $ Sales volume (number of cases sold) 53,500 51,000 ke to determine the portic using the actual sales voll D0 units. Requirements 4 and 5. Compute the master budget variances. Be different than originally anticipated, and (b) due to some other unexp units. Use the original budget assumptions for sales price, variable o S 158,800 $ Sales revenue 142,800 56,100 64,600 Less: Variable expenses bet column and the remai Begin by completing the actual and master budget columns of the pe whole dollar. For accounts with a 0 balance, make sure to enter "0" i Contribution margin 86,700 94,200 65,700 64,000 Less: Fixed expenses The Everlasting Ballo Flexible Budget Perforn 28,500 $ 22,700 Operating income For the Month Ended Flexible Done Print Choose from any list or enter any number in the input fields and merroormmoe The Everlasting Balloon Company produces party baloons that are soid in mut-pack cases To tollow is the company's perfomance report in conbuen margin format for August EClick the loon to view the performance report in contribution mangin format) Read the requirements Requirements 4 and 5. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (U.) Management would ke to detemine the potion of the master budget variance that is (a) due to volume being dferent than originaly anticipated, and (b) due to some other unespected cause. Prepare a flexible budget performance report to address these questons, using the actual sales volume of 53,500 units and the budgeted sales volume of 51,000 units. Use the original budget assumplions for sales price, variable cost per unit, and fxed costs, assuming the relevant range sreches from 46.000 to 68,500 units Begin by completing the actual and master budget columns of the perfomance report aand then the master budget variances. Then compute the flexbie budget column and the remaining variance columns. (Round al amounts to the rearest whole dolar. For accounts with a 0 balance, make sure to enter " in the appropriate column Label each variance as favorable (F) or unfavorable (U)) The Everlasting Balloon Company Flexible Budget Performance Report -For the Month Ended August 31 Master Flexible Budget Budget Volume Master Flexible Variance Budget Actual Variance Budget Variance Sales volume Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income Choose from any list or enter any number in the input fields and then continue to the next question The Everlasting Balloon Company produces party balloons that are sold in mu-pack cases. To follow is the company's perfomance report in contribution margin format for August m (Click the lcon to view the performance report in contribution margin format) Read the requirements Less: Variable expenses Contribution margin Less: Fixed expenses Operaing income Requirement Ga. Using the Sexible budget performance report you prepared for Requirement 5, answer the folowing quesion How much of the master budget variance (caloulated in Requirement 4) for operating income is due to volume being higher than expected? The amount of the master budget variance for operating income due to volume being higher than expected is 5 Requirement b Using the flexible budget performance eport you prepared for Requirement 5anwr the folowing question How much of the master budget variance for variable expenses is due to some cause ofher han volume? The amount of the master budget variance for variable expenses due to some cause ofther than volume is Requirement 6c. Using the fexible budget performance report you prepared for Requirement 5, answer the following question What coud account for the fexible budget variance for sales revenue? could account for the fexbie budget variance for sales revenue Requirement 6d. Using the flexible budget performance report you prepared for Requirement 5, answer the following question What is the volume variance for fixed expenses? Why is a this amount? (Enter a "0 for any zero amounts) Jamourt for fxed because the Sexible budget uses the The volume variance for faed expenses is $ expenses because fxed expenses are Choose from any list or enter any numt aflected by changes in volume assumed to be he same (fxed) at any level of activity
