- X i More Info More Info - Actual income statements Budgeted amounts for July were as follows: Winnipeg Manitoba Companywide $ 148,500|| $ 1,642,000||$ 4,600,000 Winnipeg Manitoba Companywide 161,500 $ 1,767,000 $ 4,850,000 Revenue $ Revenue Expenses: Expenses: Region manager/headquarters office $ - 119,000 Region manager/headquarters office $ - $ 60,600|| $ 121,000 55,000|| $ 871,100 Cost of materials 81,000 1,803,000 Cost of materials 86,700 963,400 1,973,000 38,000 415,800 1,170,000 38,400 1,094,000 Salary expense Depreciation expense Salary expense Depreciation expense 7,600 96,000 436,000 7,600 447,000 440,000 87,400 54,800 32,400 Utilities expense Utilities expense 4,600 2,600 46,500 34,800 264,000 178,000 4,700 3,600 273,000 169,000 Rent expense Rent expense Total expenses 133,800 1,519,200 3,970,000 Total expenses 141,000 1,638,600 4,077,000 $ 14,700||$ 122,800||$ 630,000 Operating income 20,500||$ 773,000 128,400||$ Operating income Print Done Print Done Now prepare the report that shows the performance of the Manitoba region. (Use parentheses or a minus sign when entering the region manager's expense and any unfavourable variances.) Manitoba Variance Favourable Operating Income of Stores and Region Manager's Office Expense Actual Budget (Unfavourable) Region manager's office expense Winnipeg Other Manitoba stores Operating income Finally, show the performance of the Winnipeg store. (For variances with a zero balance, make sure to enter "0" in the appropriate cell. Use parentheses or a minus sign when entering any unfavourable variances.) Winnipeg Variance Favourable (Unfavourable) Revenues and Expenses: Actual Budget Revenue Expenses: Cost of materials Salary expense Depreciation expense Utilities expense Rent expense Total expenses Operating income Requirement 2. As the Manitoba region manager, would you investigate the Winnipeg store on the basis of this report? Why or why not? (Enter all amounts as positive. Round percentages to two decimal places, X.XX%.) As region manager of the Manitoba region, you which is is % of its budgeted income. This difference investigate the Winnipeg office on the basis of this report. Its operating income variance of $ V afford to keep operating marginally profitable stores. is investigating. The company Requirement 3. Briefly discuss the benefits of budgeting. Base your discussion on Puppy World's performance report. Budgeting plan. The various levels of Puppy World's management their operations to develop the detailed budgets in the performance report. from the company headquarters to region managers, and from region managers to store managers and their staff. Budgeting coordination and communication. The budgets of the performance report communicate Budgets also help managers activities across the company's operations. Budgeting helps managers evaluate The budget versus actual comparisons in the report are better indicators of than current period actual amounts versus past period actual amounts. Budgeting also to meet their budgets if budgets are the benchmark for measuring performance, and The Winnipeg store, other Manitoba stores, stores in other regions, and the headquarters will be participation in the budgeting process helps ensure acceptance. if accept the budgets as fair. - X i More Info More Info - Actual income statements Budgeted amounts for July were as follows: Winnipeg Manitoba Companywide $ 148,500|| $ 1,642,000||$ 4,600,000 Winnipeg Manitoba Companywide 161,500 $ 1,767,000 $ 4,850,000 Revenue $ Revenue Expenses: Expenses: Region manager/headquarters office $ - 119,000 Region manager/headquarters office $ - $ 60,600|| $ 121,000 55,000|| $ 871,100 Cost of materials 81,000 1,803,000 Cost of materials 86,700 963,400 1,973,000 38,000 415,800 1,170,000 38,400 1,094,000 Salary expense Depreciation expense Salary expense Depreciation expense 7,600 96,000 436,000 7,600 447,000 440,000 87,400 54,800 32,400 Utilities expense Utilities expense 4,600 2,600 46,500 34,800 264,000 178,000 4,700 3,600 273,000 169,000 Rent expense Rent expense Total expenses 133,800 1,519,200 3,970,000 Total expenses 141,000 1,638,600 4,077,000 $ 14,700||$ 122,800||$ 630,000 Operating income 20,500||$ 773,000 128,400||$ Operating income Print Done Print Done Now prepare the report that shows the performance of the Manitoba region. (Use parentheses or a minus sign when entering the region manager's expense and any unfavourable variances.) Manitoba Variance Favourable Operating Income of Stores and Region Manager's Office Expense Actual Budget (Unfavourable) Region manager's office expense Winnipeg Other Manitoba stores Operating income Finally, show the performance of the Winnipeg store. (For variances with a zero balance, make sure to enter "0" in the appropriate cell. Use parentheses or a minus sign when entering any unfavourable variances.) Winnipeg Variance Favourable (Unfavourable) Revenues and Expenses: Actual Budget Revenue Expenses: Cost of materials Salary expense Depreciation expense Utilities expense Rent expense Total expenses Operating income Requirement 2. As the Manitoba region manager, would you investigate the Winnipeg store on the basis of this report? Why or why not? (Enter all amounts as positive. Round percentages to two decimal places, X.XX%.) As region manager of the Manitoba region, you which is is % of its budgeted income. This difference investigate the Winnipeg office on the basis of this report. Its operating income variance of $ V afford to keep operating marginally profitable stores. is investigating. The company Requirement 3. Briefly discuss the benefits of budgeting. Base your discussion on Puppy World's performance report. Budgeting plan. The various levels of Puppy World's management their operations to develop the detailed budgets in the performance report. from the company headquarters to region managers, and from region managers to store managers and their staff. Budgeting coordination and communication. The budgets of the performance report communicate Budgets also help managers activities across the company's operations. Budgeting helps managers evaluate The budget versus actual comparisons in the report are better indicators of than current period actual amounts versus past period actual amounts. Budgeting also to meet their budgets if budgets are the benchmark for measuring performance, and The Winnipeg store, other Manitoba stores, stores in other regions, and the headquarters will be participation in the budgeting process helps ensure acceptance. if accept the budgets as fair