Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Results Flexible Budget Planning Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,450 ? $ 8,400 What is the spending variance for wages and salaries expense? Multiple Choice $176 U $126 F $176 F $126 U

Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Results Flexible Budget Planning Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,450 ? $ 8,400 What is the spending variance for wages and salaries expense? Multiple Choice $176 U $126 F $176 F $126 U

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 1.5C

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Assume that a company provided the following excerpts of information from its flexible budget performance report: Flexible Planning Actual Results Budget 52 Flights (q) Expenses: Wages and salaries ($4,000+ $88.00g) What is the activity variance for wages and salaries expense? Multiple Choice O $176 U $176 F $66 F $66 U $ 8,510 Budget ? ? ? $ 8,400
Help Save & Exit AA company provided the following information from its flexible budget performance report: Actual Results 52 Flexible Budget Master Budget Trips (q) 2. Expenses: Maintenance expense ($4,000 + $88.00g) $8,440 $8,400 What is the spending variance for maintenance expense? Multiple Choice $136 F $136 U $176 U Nex 11 of 23 < Prev
A company provided the following information from its flexible budget performance report: Actual Flexible Master Results Budget Budget Trips (q) 52 Expenses: Maintenance expense ($4,000 + $88.00g) $8,495 ? $8,400 What is the spending variance for maintenance expense? Multiple Choice None of the answers is correct. $176 U $81 U $81 F
Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Flexible Planning Results Budget Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,510 ? $ 8,400 What is the spending variance for wages and salaries expense? $66 U $176 F $176 U $66 F
Assume that a company provided the following excerpts of Information from its flexible budget performance report Actual Results Courses (91) students (92) Expenses: Administrative expense ($125+ $25091 + $3092) What is the administrative expense activity variance? Multiple Choice O O $550 P $225 F $1.575 P 51125 M 8 260 $ 8,900 Flexible Planning Budget Budget 2 9 > ? 270 $?
Required A Required B Prepare the pro forma income statement in contribution format that would appear in a flexible budget. SOLOMON MANUFACTURING COMPANY Pro Forma Income Statement Flexible Budget $ 0
x Thomas Co. provides the following fixed budget data for the year: Sales (20,000 units) Cost of sales: Direct materials Direct labor Variable overhead Fixed overhead Gross profit Operating expenses: Fixed Variable Income from operations The company's actual activity for the Sales (21,000 units) Cost of goods sold: Direct materials Direct labor Variable overhead Fixed overhead Gross profit Operating expenses: Fixed Variable Income from operations F3 $200,000 160.000 60,000 80,000 $ 12,000 40.000 year follows: $231.000 168,000 73.500 77.500 12.000 39.500 F6 $600,000 500,000 $100,000 52.000 $ 48,000 $651,000 550.000 $101.000 51.500 $49.500 F7 F8
Clark Company's master budget reflects budgeted sales information for the month of June, 2022 as follows: Product A Product B Budgeted Quantity 40,000 48,000 Budgeted Unit Sales Price $7 $9 During June, the company actually sold 39,000 units of Product A at an average unit selling price of $7.1 and 49,600 units of Product B at an average unit price of $8.9. Prepare a Sales Budget Report for the month of June for Clark Company which shows whether the company achieved its planned objectives.
Question 3 a) Why do successful companies tend to use the bottom-up approach to establish a master budget? b) Green Tea's data show the following information for the financial year, beginning July 2020: July Aug. Sept. Oct. Nov. Estimated sales (units) 25,000 25,000 27,000 27,500 28,000 Sales price per unit $31 $31 $31 $31 $31 Direct labour per unit $1.75 $1.75 $1.50 $1.50 $1.50 Labour rate per hour $21 $21 $24 $24 $24 New machinery will be added in September. This machine will reduce the labour required per unit and increase the labour rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material requires 2.5 kg per unit at a cost of $5 per kg. The ending inventory required for direct materials is 20% of the next month's needs. In July, the beginning inventory is 3,750 units of finished goods and 13,125 kg of materials. Required: i) Prepare a production budget for the first quarter of the…
Accounting Budget Fixed FOH=800 Actual HRS=120 Stand HRS=150 Norm HRS= 100 Actual Fixed FOH=815 1.Find Fixed FOH Rate 2.Find BUDGET VAR
Howard Cooper, the president of Campbell Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 3. Standard rate and variable costs Service rate per hour $ 85.00 Labor cost 37.00 Overhead cost 7.10 Selling, general, and administrative cost Expected fixed costs Facility maintenance Selling, general, and administrative 3.80 $522,000 142,000 Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 45,000 hours of services in Year 3. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Campbell charges customers $80 per hour, the firm can achieve 50,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same…
Main,do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook Using the following budgeted information for production of 9,000 and 16,000 units, prepare a flexible budget for 17,000 units. Production 9,000 units 16,000 units Expense A $14,400 $25,600 Expense B 21,000 21,000 Expense C 45,000 #5,000 Total expenses $