Question
Complete the performance report. (For accounts with a zero balance, make sure to enter "0" in...
Complete the performance report. (For accounts with a zero balance, make sure to enter "0" in the appropriate cell. Label each variance as favourable (F) or unfavourable (U). If the variance is zero, do not select a label.)
|
Roland Company |
|||||||
|
Income Statement Performance Report |
|||||||
|
Year Ended July 31 |
|||||||
|
Flexible Budget for |
|||||||
|
Actual Results at |
Flexible Budget |
Actual Number of |
Sales Volume |
Static (Master) |
|||
|
Actual Prices |
Variance |
Output Units |
Variance |
Budget |
|||
|
Output units |
43,000 |
43,000 |
4,000 |
F |
|||
|
Sales revenue |
$223,000 |
$223,000 |
$26,000 |
F |
|||
|
Variable expenses |
88,000 |
83,000 |
14,000 |
U |
|||
|
Fixed expenses |
109,000 |
102,000 |
0 |
||||
|
Total expenses |
197,000 |
185,000 |
14,000 |
U |
|||
|
Operating income |
$26,000 |
$38,000 |
$12,000 |
F |
|||
Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasons.
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
. Fill in the missing numbers in the performance report. Be sure to indicate whether variances...
. Fill in the missing numbers in the performance report. Be sure
to indicate whether variances are favorable (F) or unfavorable
(U). (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.)
Water Side
Flexible Budget Performance Report: Sales and Operating
Expenses
For the Year Ended April 30
Flexible Budget
Flexible
Actual
Variance
Budget
Volume Variance...
Ray Company provided the following excerpts from its Production Department’s flexible budget performance report. Required: Complete...
Ray Company provided the following excerpts from its Production
Department’s flexible budget performance report.
Required:
Complete the Production Department’s Flexible Budget Performance
Report. (Indicate the effect of each variance by selecting
"F" for favorable, "U" for unfavorable, and "None" for no effect
(i.e., zero variance). Input all amounts as positive values. Round
"rate per hour" answers to 2 decimal places.)
Ray Company
Production Department Flexible Budget
Performance Report
For the Month Ended August 31
Actual Results
Spending Variances
Flexible Budget...
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company’s fixed budget performance report...
Exercise 21-3 Preparing a flexible budget performance report LO
P1
Solitaire Company’s fixed budget performance report for June
follows. The $300,000 budgeted expenses include $272,000 variable
expenses and $28,000 fixed expenses. Actual expenses include
$36,500 fixed expenses.
Fixed Budget
Actual Results
Variances
Sales (in units)
8,000
10,400
Sales (in dollars)
$
400,000
$
520,000
$
120,000
F
Total expenses
300,000
364,000
64,000
U
Income from operations
$
100,000
$
156,000
$
56,000
F
Prepare a flexible budget performance report showing...
Bickel Corporation uses customers served as its measure of activity. The following report compares the planning...
Bickel Corporation uses customers served as its measure of
activity. The following report compares the planning budget to the
actual operating results for the month of November: Bickel
Corporation Comparison of Actual Results to Planning Budget For the
Month Ended November 30 Actual Results Planning Budget Variances
Customers served 44,000 43,000 Revenue ($3.60q) $ 158,100 $ 154,800
$ 3,300 F Expenses: Wages and salaries ($24,300 + $1.33q) 82,820
81,490 1,330 U Supplies ($0.73q) 29,790 31,390 1,600 F Insurance
($6,200) 6,200...
Bickel Corporation uses customers served as its measure of activity. The following report compares the planning...
Bickel Corporation uses customers served as its measure of
activity. The following report compares the planning budget to the
actual operating results for the month of November:
Bickel Corporation
Comparison of Actual Results to Planning
Budget
For the Month Ended November 30
Actual Results
Planning Budget
Variances
Customers served
36,000
35,000
Revenue ($3.40q)
$
122,300
$
119,000
$
3,300
F
Expenses:
Wages and salaries ($23,500 + $1.25q)
68,500
67,250
1,250
U
Supplies ($0.65q)
20,450
22,750
2,300
F
Insurance ($5,400)
5,400...
Bay City Company’s fixed budget performance report for July follows. The $587,000 budgeted total expenses include...
Bay City Company’s fixed budget performance report for July
follows. The $587,000 budgeted total expenses include $400,000
variable expenses and $187,000 fixed expenses. Actual expenses
include $177,000 fixed expenses.
Fixed Budget
Actual Results
Variances
Sales (in units)
8,000
6,900
Sales (in dollars)
$
640,000
$
621,000
$
19,000
U
Total expenses
587,000
550,000
37,000
F
Income from operations
$
53,000
$
71,000
$
18,000
U
Prepare a flexible budget performance report that shows any
variances between budgeted results and actual...
Bay City Company’s fixed budget performance report for July follows. The $594,000 budgeted total expenses include...
Bay City Company’s fixed budget performance report for July
follows. The $594,000 budgeted total expenses include $450,000
variable expenses and $144,000 fixed expenses. Actual expenses
include $134,000 fixed expenses.
Fixed Budget
Actual Results
Variances
Sales (in units)
8,100
7,000
Sales (in dollars)
$
648,000
$
623,000
$
25,000
U
Total expenses
594,000
556,000
38,000
F
Income from operations
$
54,000
$
67,000
$
13,000
U
Prepare a flexible budget performance report that shows any
variances between budgeted results and actual...
1. Prepare a flexible budget performance report for JulyJuly. 2. What was the effect on New...
1.
Prepare a flexible budget performance report for
JulyJuly.
2.
What was the effect on
New BostonNew Boston's
operating income of selling
2 comma 0002,000
units more than the static budget level of sales?
3.
What is
New BostonNew Boston's
static budget variance for operating income?
4.
Explain why the flexible budget performance report provides more
useful information to
New BostonNew Boston's
managers than the simple static budget variance. What insights
can
New BostonNew Boston's
managers draw from this performance...
Ray Company provided the following excerpts from its Production Department’s flexible budget performance report. (Round "rate...
Ray Company provided the following excerpts from its Production
Department’s flexible budget performance report. (Round
"rate per hour" answers to 2 decimal places. Indicate the effect of
each variance by selecting "F" for favorable, "U" for unfavorable,
and "None" for no effect (i.e., zero variance). Input all amounts
as positive values.)
Required:
Complete the Production Department’s Flexible Budget Performance
Report.
Ray Company
Production Department Flexible Budget
Performance Report
For the Month Ended August 31
Actual Results
Spending Variances
Flexible Budget...
Business Solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. The $171,510...
Business Solutions's second-quarter 2018 fixed budget
performance report for its computer furniture operations follows.
The $171,510 budgeted expenses include $122,310 in variable
expenses for desks and $16,200 in variable expenses for chairs, as
well as $33,000 fixed expenses. The actual expenses include $34,300
fixed expenses. List fixed and variable expenses
separately.
Fixed Budget
Actual Results
Variances
Desk sales (in units)
151
157
Chair sales (in units)
60
68
Desk sales
$
197,810
$
204,100
$
6,290
F
Chair sales
30,600...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 8 minutes ago
asked 20 minutes ago
asked 21 minutes ago
asked 46 minutes ago
asked 46 minutes ago
asked 52 minutes ago
asked 52 minutes ago
asked 58 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago