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In: Accounting

Xion Co. budgets a selling price of $91 per unit, variable costs of $32 per unit,...

Xion Co. budgets a selling price of $91 per unit, variable costs of $32 per unit, and total fixed costs of $290,000. During June, the company produced and sold 12,800 units and incurred actual variable costs of $371,000 and actual fixed costs of $305,000. Actual sales for June were $1,190,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately.

(Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance)

Solutions

Expert Solution

Xion Co
Flexible Budget performance Report
Flexible Budget Actual Results Variances Favorable/Unfacourable
No. of Units sold 12800 12800
Sales          1,164,800          1,190,000      25,200 Favourable
Less: variable Cost              409,600              371,000      38,600 Favourable
Contribution Margin              755,200              819,000      63,800 Favourable
Less: Fixed Cost              290,000              305,000      15,000 Unfavourable
Net INCOME              465,200              514,000      48,800 Favourable

ekkarill92 answered 1 year ago
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