Question

The Standard Budget has 10,000 units with Direct Material $30,000, Direct Labour $40,000, Other Variable Costs...

The Standard Budget has 10,000 units with Direct Material $30,000, Direct Labour $40,000, Other Variable Costs $10,000, Fixed Costs $70,000 and Profit of $10,000. The number of units actually sold was 12,000. What is the Profit in the Flexible Budget at Standard Prices?

1) $26,000

2) $10,000

3) $12,000

4) $22,000

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Mauricio's static budget was calculated as follows: Sales (30,000 units) $600,000 Manufacturing costs (1/2 fixed) $120,000...
Mauricio's static budget was calculated as follows: Sales (30,000 units) $600,000 Manufacturing costs (1/2 fixed) $120,000 Other operating costs ( all fixed) $150,000 If the company actually sold 15,000 units the operating income when using a flexible budget would be
A company’s flexible budget for 10,000 units of production showed sales, $56,000; variable costs, $24,000; and...
A company’s flexible budget for 10,000 units of production showed sales, $56,000; variable costs, $24,000; and fixed costs, $16,000. The operating income expected if the company produces and sells 16,000 units is:
A company has prepared a master budget for the month of February when they expected to...
A company has prepared a master budget for the month of February when they expected to sell 4,000 units. They actually sold 3,750 units. Calculate the flexible budget and the spending and volume variances for February. Identify if the variances are favorable or unfavorable. Actual Costs 3,750 Units Spending Variances Flexible Budget _______Units Volume Variances Master Budget 4,000 Units Manufacturing Costs: Direct Materials $14,500 $16,000 Direct Labor 38,500 40,000 Variable Manufacturing Overhead 12,000 14,000 Fixed Manufacturing Overhead 20,000 21,000 Total...
During January, Lang, Inc. produced 10,000 units of product with costs as follows: Direct materials $...
During January, Lang, Inc. produced 10,000 units of product with costs as follows: Direct materials $ 40,000 Direct labor 22,000 Variable overhead 10,000 Fixed overhead 90,000 $ 162,000 What is Lang's unit cost for January, calculated on the variable costing basis? Multiple Choice $7.20. $8.50. $6.20. $7.50. $9.50.
Prepare a flexible budget for 8,000, 9,000, and 10,000 units of output, given the following data:...
Prepare a flexible budget for 8,000, 9,000, and 10,000 units of output, given the following data: Variable costs:     Budgeted fixed overhead $90,000     Direct materials $5     Direct labor 4     Overhead 8
Prepare a flexible budget for 8,000, 9,000, and 10,000 units of output, given the following data:...
Prepare a flexible budget for 8,000, 9,000, and 10,000 units of output, given the following data: Variable costs:     Budgeted fixed overhead $90,000     Direct materials $5     Direct labor 4     Overhead 8
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows:   Direct materials: 5 kg at $8.00 per kg $ 40.00     Direct labour: 3 hours at $15 per hour 45.00     Variable overhead: 3 hours at $9 per hour 27.00     Total standard cost per unit $ 112.00   The company planned to produce and sell 21,000 units in March. However, during March the company actually produced and...
Following is the static budget and actual results of Yoga Inc. for the month of April...
Following is the static budget and actual results of Yoga Inc. for the month of April 20X4. The management is pleased with the income higher than budgeted. However they understand that significant increase in units sold renders the comparison of actual results and the static budget unfair. Required: You are required to prepare a flexible budget at actual level of output and calculate flexible budget variances. Actual Static Units 40,000 30,000 Revenue 236,000 180,000 Variable Costs: Material 76,000 60,000 Labor...
Given the following information: Information Original Budget Actual Units produced 1,000 units 970 units Materials (kg)...
Given the following information: Information Original Budget Actual Units produced 1,000 units 970 units Materials (kg) 400 kg 415 kg Material Costs $8,000 See other info Direct Labour (Hours) 36,000 hours 34,010 hours Direct Labour Costs $385,000 $365,750 Variable Overhead Costs $255,000 $245,000 Fixed Overhead Costs $160,000 $165,000 Other Information Overhead is Allocated on Direct Labour Hours During the year, 500 kg of materials were purchased for $9,000 Beginning Inventory: 0kg Ending Inventory: 85kg Required: Calculate the following variances: Material...
You are given the following cost information for producing 10,000 units in LL company: direct material...
You are given the following cost information for producing 10,000 units in LL company: direct material - $70,000, direct labour= 10,000; variable manufacturing overhead 50,000. Fixed manufacturing overhead for the year - $300,000 LL company received an offer from a supplier to manufacture the 10,000 units for $39, for the same quality. LL company can $4,000 extra net income from it. 60% of the fixed manufacturing overhead cost is avoidable if LL buys from a supplier. In case LL company...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT