Question

In: Accounting

A different between the static-budget and flexible -budget amounts is called the sales -volume variance

A different between the static-budget and flexible -budget amounts is called the sales -volume variance

Solutions

Expert Solution

ekkarill92 answered 2 months ago
Next > < Previous

Related Solutions

The sales-volume variance plus or minus the static budget amount results in A static budget variance...
The sales-volume variance plus or minus the static budget amount results in A static budget variance The variable-budget amount An unfavourable/favourable amount The flexible budget amount
Flexible budgets vs static budgets What is the difference between an flexible budget and a static...
Flexible budgets vs static budgets What is the difference between an flexible budget and a static budget? What is a flexible budget? (6 senteces or more)
Problem 1) Static budget variance and Flexible budget variance Sonnet Inc. has the following information for...
Problem 1) Static budget variance and Flexible budget variance Sonnet Inc. has the following information for March 2018. Master Budget for March 2018 Sales volume………………………...……………….2,100 diskettes Average selling price per diskette……………………$5.00/diskette DM costs per diskette………………………………..$0.85/diskette DM cost per lb……………………………….$17.00/lb DM per diskette……………………………..0.05 lb/diskette Direct Labor: Direct labor cost per hour……………………..$15.00/hr # of diskettes produced per labor hour……….. 30 diskettes Direct Marketing costs………………………………$0.30 /diskette Fixed overhead costs………………………………..$850/month Actual for March 2018 Sales volume ………………………………………..1,800 diskettes Average selling price………………………………..$4,80/diskette DM costs per...
Performance Report Year Ended December 31, 2017 Actual Flexible-Budget Flexible Sales-Volume Static Results Variances Budget Variances...
Performance Report Year Ended December 31, 2017 Actual Flexible-Budget Flexible Sales-Volume Static Results Variances Budget Variances Budget Units sold 108,000 99,000 Revenues (sales) $702,000 $420,750 Variable costs 430,000 237,600 Contribution margin 272,000 183,150 Fixed costs 193,850 105,000 Operating income $78,150 $78,150 The Beekman Company produces engine parts for car manufacturers. A new accountant intern at Beekman has accidentally deleted the calculations on the​ company's variance analysis calculations for the year ended December​ 31, 2017. Requirement 1. Calculate all the required...
Explain and demonstrate the difference between a static and flexible budget
Explain and demonstrate the difference between a static and flexible budget
Describe the differences between a flexible budget and a static budget. Use your own example to...
Describe the differences between a flexible budget and a static budget. Use your own example to discuss how to compute and use Net Present Value (NPV), Internal Rate of Return (IRR), and payback period to evaluate a project in capital budgeting.
You are given the following static budget report: Budget            Actual              Variance Unit Sales  &nbsp
You are given the following static budget report: Budget            Actual              Variance Unit Sales                                           10,000               15,000             5,000 F Variable Expenses:     Commissions                                  $30,000 $33,000 $3,000 U     Advertising                                      $1,000 $1,200 $200 U     Travel                                              $10,000 $11,000 $1,000 U     Samples                                          $2,500 $2,300 $200 F Total Variable                                     $43,500 47,500 $4,000 U Fixed Expenses     Rent                                                 $5,000 $5,000 0     Salaries – Sales                               $2,000 $2,000 0     Salaries – Office                              $1,200 $1,200 0     Depreciation                                    $1,500 $1,500 0 Total Fixed                                          $9,700 $9,700             0 Total Expenses $53,200 $57,200 $4,000 U Prepare a flexible budget analysis and explain whether you believe that costs were controlled.  How do the results of...
Activity Flexible Budgeting, Performance Report, Volume Variance Novo, Inc., wants to develop an activity flexible budget...
Activity Flexible Budgeting, Performance Report, Volume Variance Novo, Inc., wants to develop an activity flexible budget for the activity of moving materials. Novo uses eight forklifts to move materials from receiving to stores. The forklifts are also used to move materials from stores to the production area. The forklifts are obtained through an operating lease that costs $18,000 per year per forklift. Novo employs 25 forklift operators who receive an average salary of $50,000 per year, including benefits. Each move...
Activity Flexible Budgeting, Performance Report, Volume Variance Novo, Inc., wants to develop an activity flexible budget...
Activity Flexible Budgeting, Performance Report, Volume Variance Novo, Inc., wants to develop an activity flexible budget for the activity of moving materials. Novo uses eight forklifts to move materials from receiving to stores. The forklifts are also used to move materials from stores to the production area. The forklifts are obtained through an operating lease that costs $18,000 per year per forklift. Novo employs 25 forklift operators who receive an average salary of $50,000 per year, including benefits. Each move...
true/ false 1. When a comparison of static and flexible budgets shows an unfavorable sales volume...
true/ false 1. When a comparison of static and flexible budgets shows an unfavorable sales volume variance, the variable cost volume variances will also be unfavorable. 2. The differences between the standard and actual amounts are called variances. 3. The best standards to include in a standard cost system are ideal standards. 4. If the master budget prepared at a volume level of 20,000 units includes factory rent of $40,000, a flexible budget based on a volume of 21,000 units...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT