The total market was estimated to 54,000 bushels at the time of budget. The actual total market for the year is 31,000 bushels. What is the firm's market share variance?
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A: Percentage increase in sales from Budget to Actual = (473,000 - 430,000)/430,000 = 10% Percentage…
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A: Solution: Actual operating income = sales - variable cost - fixed costs = 47000*10 - 167000 - 45000…
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A: The units produced can be solved with the help of cost of goods sold equation
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Q: Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed…
A: SOLUTION- FLEXIBLE BUDGET- IT IS ALSO CALLED VARIABLE BUDGET IS FINANCIAL PLAN OF ESTIMATED REVENUE…
Q: Example: The budgeted sales of SM Ltd were 740 units at a selling price of $21. The actual sales…
A: Variance analysis: It is the technique in budgeting that allows for analysis of the variances…
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A: The budget preparation based on the actual output is defined as the flexible budget. The budget…
Q: In a recent year, BMW sold 182,158 of its 1 Series cars. Assume the company expected to sell 191,158…
A: Formula: Sales price variance = ( Actual quantity x actual price ) - ( Actual quantity x standard…
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A: Budget is the estimation of revenues and expenses related to specific period of time in future.
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A:
Q: Munoz Educational Services had budgeted its training service charge at $69 per hour. The company…
A: Formula: Sales volume variance = ( Actual sales - Budgeted sales ) x Budgeted rate
Q: he following information relates to a given department of Viernes Company for its fourth quarter of…
A: It is given that Actual total overhead - P178,500 Budget formula -P110,000 + P50 per hour Total…
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A: The variance is the difference between actual and budgeted data of production.
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A: Change in sales = Sales price variance + Sales volume variance = 750,000 + (-150,000) = 600,000
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A: Flexible budget vs static budget: Flexible budget is a budget which states the cost and sales…
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A: Description: Static budget variance of variable costs: Deduction of Budgeted Variable costs from…
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A: It is pertinent to note that variable costs are costs that change with the change in the amount of…
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A: The static budget variance of revenue is calculated as planned sales revenue less actual sales…
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A: calculation of above requirement are as follows
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A: The conceptual formula used:
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Q: This year’s total sales of Bulldogs Inc. is P4,600,000. The following variances are determined: ·…
A: Change in sales = Sales price variance favorable + Sales volume variance unfavorable = 750,000 +…
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A: Solution: Actual revenues = Actual units * actual selling price = 171000 *23 = 3,933,000 Budgeted…
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A: Sales variance shows difference in actual sales and budgeted sales. This may be due to difference in…
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A: First we can calculate each column individually. Flexible budget Sales-14,200*8.50=…
Q: What is the Sales Volume Variance under 4-way analysis?
A: Any variance can be evaluated in 4 ways The fixed price/spending variance The variable…
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A:
Q: Market variance analysis. Primus Water reported the following sales date in 2013: * Actual Budgeted…
A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…
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A: Sales Price Variance $30,008 Unfavorable Sales Volume Variance $10,780 Favorable Total revenue…
Q: Lincoln Corporation used the following data to evaluate their current operating system. The company…
A: Actual selling price - $19 per unit Budgeted selling price - $19 per unit Actual units sold - 48,000…
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A: Particulars Product A Product B Product…
Q: Lincoln Corporation used the following data to evaluate their current operating system. The company…
A: static-budget variance of revenue = Actual revenue - Budget revenue
Q: Required information [The following information applies to the questions displayed below.] Adger…
A: The activity variance is the difference between flexible budget and planning budget of the business.…
Q: Everly Company’s variable selling and administrative expenses are 12% of net sales. Fixed expenses…
A: The total budgeted selling and administrative expenses refer to the sum of both fixed and variable…
Q: Dickinsen Company gathered the following data for December: Planned Actual Sales price per unit…
A: Revenue price Variance = (Actual price per unit - Planned price per unit) x Actual number of units…
Q: actual return on assets
A: Actual gross profit Budgeted gross profit - Unfavorable total gross profit variance Budgeted gross…
Q: Lincoln Corporation used the following data to evaluate their current operating system. The company…
A: Static budget is the original budget, which is not revised according to the actual units.
Q: Bulldogs Inc. has a budgeted gross profit of P2,450,000. The firm also determined that its gross…
A: Budgeted Gross Profit is P 2,450,000 Gross Profit Margin is 50% Return on Sales is 20% Total…
Q: Top managers of Cole Industries predicted 2018 sales of 14,600 units of its product at a unit price…
A: Formulas:
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- Wheat Inc. has an exclusive contract with an exporter. Two brands of wheat are imported, labeled AB and CD. The following data are provided for the current fiscal year: Budgeted Actual Results AB CD AB CD Price per bushel $ 27 $ 12 $ 29 $ 18 Variable cost per bushel $ 22 $ 7 $ 19 $ 14 Sales (in bushels) 2,400 3,000 1,200 4,300 The total market was estimated to 34,000 bushels at the time of budget. The actual total market for the year is 26,000 bushels. What is AB's contribution margin sales volume variance? Multiple Choice $6,000 unfavorable. $8,500 favorable. $14,500 unfavorable. $0. $12,000 unfavorable.Gourmet Aroma Coffee House has an exclusive contract with Columbia exporters. Two brands of gourmet coffee are imported, Morning Thunder (MT) and Evening Tender (ET). The following data are provided for the current fiscal year: Budgeted Operating Results MT ET MT ET Price per pound $ 40 $ 60 $ 50 $ 56 Variable cost per pound 20 36 24 40 Sales (in pounds) 5,300 5,300 4,686 5,964 The total market was estimated to be 106,000 pounds at the time of budget. The actual total market for the year is 114,000 pounds. What is the firm's total sales mix variance? Multiple Choice $11,316 favorable. $2,916 unfavorable. $1,356 unfavorable. $7,276 favorable. $2,556 favorable.Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents in the United States and Canada. The agents are currently paid an 18% commission on sales; that percentage was used when Lionel prepared the following budgeted income statement for the fiscal year ending June 30, 2022: Lionel Corporation Budgeted Income Statement For the Year Ending June 30, 2022 ($000 omitted) Sales $ 30,000 Cost of goods sold $ 13,500 3,600 Variable Fixed 17,100 Gross profit Selling and administrative costs $ 12,900 Commissions $ 5,400 Fixed advertising cost 900 Fixed administrative cost 2,400 8,700 Operating income $ 4,200 Fixed interest cost 750 $ 3,450 1,035 $ 2,415 Income before income taxes Income taxes (30%) Net income Since the completion of the income statement, Lionel has learned that its sales agents are requiring a 5% increase in their commission rate (to 23%) for the upcoming year. As a result, Lionel's president has decided to investigate the possibility of…
- Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents in the United States and Canada. The agents are currently paid an 18% commission on sales; that percentage was used when Lionel prepared the following budgeted income statement for the fiscal year ending June 30, 2019: Sales Cost of goods sold Variable Fixed Gross profit Selling and administrative costs Commissions. Lionel Corporation Budgeted Income Statement For the Year Ending June 30, 2019 ($000 omitted) Fixed advertising cost Fixed administrative cost Operating income Fixed interest cost. Income before income taxes. Income taxes (308) Net income $ 13,320 3,552 $ 5,328 888 2,368 Sales Variable costs: Since the completion of the income statement, Lionel has learned that its sales agents are requiring a 5% increase in their commission rate (to 23%) for the upcoming year. As a result, Lionel's president has decided to investigate the possibility of hiring its own sales staff in place of the…Gourmet Aroma Coffee House has an exclusive contract with Columbia exporters. Two brands of gourmet coffee are imported, Morning Thunder (MT) and Evening Tender (ET). The following data are provided for the current fiscal year: Budgeted Operating Results MT ET MT ET Price per pound $ 40 $ 60 $ 50 $ 56 Variable cost per pound 20 36 24 40 Sales (in pounds) 4,300 4,300 4,026 5,124 The total market was estimated to be 86,000 pounds at the time of budget. The actual total market for the year is 84,000 pounds. What is the firm's total sales mix variance? Multiple Choice $2,196 favorable. $6,916 favorable. $10,956 favorable. $2,556 unfavorable. $996 unfavorable.Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice—White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Dollar sales to break-even = Fixed expenses ÷ CM ratio = $223,600 ÷ 0.52 = $430,000 As shown by these data, net operating income is budgeted at $145,600 for the month and the estimated break-even sales is $430,000. Assume that actual sales for the month total $710,000 as planned; however, actual sales by product are: White, $227,200; Fragrant, $284,000; and Loonzain, $198,800. Required: Prepare a contribution format income statement for the month based on the actual sales data. Compute the break-even point in dollar sales for the month based on your actual data.
- VideoSecu produces wall mounts for flat panel television sets. Assume the forecasted income state M16-16. Special Order ment for next year is as follows. VIDEOSECU Budgeted Income Statement For the Year $5,600,000 Sales ($28 per unit) . . Cost of good sold ($19 per unit) . (3,800,000) 1,800,000 Gross profit..... Selling expenses ($5 per unit) (1,000,000) $ 800,000 Net income. ADDITIONAL INFORMATION (1) Of the production costs and selling expenses, $1,520,000 and $750,000, respectively, are fixed. (2) VideoSecu received a special order from a hospital supply company offering to buy 10,00 wall mounts for $15. If it accepts the order, there will be no additional fixed selling expenses, and there is currently sufficient excess capacity to fill the order. The company's sales manager argues for rejecting the order because "we are not in the business of paying $19 to make a product to sell for $15." REQUIRED Do you think the company should accept the special order? Should the decision be…Bean There Inc. manufactures coffee makers. Selected budget and actual information for 2020 are provided below: Budget Information Actual Information Units sold 1 36,000 Sales in dollars $ 1,272,335 1,363,217 Average selling price per unit $ 50 4 Variable cost per unit $ 30 5 Variable cost in total 2 $ 817,930 Fixed selling and admin $ 302,900 $ 293,200 Operating income 3 6 Calculate on excel: 1. Complete the missing information above (1,2,3,4,5,6) 2. Prepare a flexible budget based on the actual quantity of units sold 3. Prepare a performance report comparing actual results to budgeted results in contribution income statement format. Ensure that the report breaks down variances between actual and budget into price and volume variances for sales, variable costs, and selling and admin expenses including which variances are favorable and which…Kiwenkira & Son Ltd makes and sells a single product marketed under a brand name Kiwetonic for the West African sub region and has total production capacity of 30,000 units per month. The budget for January 2020 contained the following information: Normal capacity (Units) 27,000 Variable costs per unit: Production (GH¢) 110 Selling and distribution (GH¢) 25 Fixed overheads: Production (GH¢) 756,000 Selling and administration (GH¢) 504,000 The actual operating data for January 2020 is as follows: Production 24,000 units Sales at GH¢250 per unit 22,000 units Opening inventory of finished goods 2,000 units During the month of January 2020, the variable factory overheads exceeded the budget by GH¢120,000. Required: Prepare profit statement for the month of January using: Marginal costing: and Absorption costing techiques Reconcile the difference in profits (if any), under the two…
- Maulana Sdn Bhd (MSB) manufactures and sells two types of products: Pastry roller and Pastry puff .Each unit of product consumes two types of materials, butter and cheese. MSB is preparing its annual budget for the year ending December 31, 2018. The Assistant Accountant provides the following data: Pastrv roller Pastry puff Sales unit 65,000 55,000 Unit selling price RM30 RM20 MSB decided that the beginning and ending inventory for the year 2018 are as follow: Product Beginning inventory(units) Ending inventory(units) Pastry roller 8,000 9,000 Pastry puff 5,000 4,000 +The following materials are needed for the production of pastry roller and pastry puff: Materials: Pastry roller Pastry puff Beginning Ending inventory (kg) inventory (kg) Butter 10 kg 8 kg 272,000 290,000 Cheese 4 kg 3 kg 60,000 41 ,000 Materials: Price per kg Butter RM2.00 Cheese RM8.00 Direct labour per unit and direct labour co ber unit is given below: Hours needed Rate per hour Pastry roller 2 hours Pastry puff 1.5…Samcor Limited manufactures tables. The following information was extracted from the budget June 2022: 1. 2. 3. 4. 5. Total production and sales Selling price per table Variable manufacturing costs per table: Direct material Direct labour Overheads Fixed manufacturing overheads Other costs: Fixed marketing and administrative costs Sales commission 2 400 units year R1 200 R288 R192 R96 R216 960 R144 000 5%Kiwenkira & Son Ltd makes and sells a single product marketed under the brand name Kiwetonic for the West African sub-region and has a total production capacity of 30,000 units per month. The budget for January 2020 contained the following information: Normal capacity (Units) 27,000 Variable costs per unit: Production (GH¢) 110 Selling and distribution (GH¢) 25 Fixed overheads: Production (GH¢) 756,000 Selling and administration (GH¢) 504,000 The actual operating data for January 2020 is as follows: Production 24,000 units Sales at GH¢250 per unit 22,000 units Opening inventory of finished goods 2,000 units During the month of January 2020, the variable factory overheads exceeded the budget by GH¢120,000. Required: a) Prepare profit statement for the month of January using: Marginal costing: and Absorption costing techniques b) Reconcile the difference in profits (if any), under the two techniques