Murphy Company managers received the following incomplete performance report: MURPHY COMPANY Flexible Budget Performance Report For the
Question:
MURPHY COMPANY
Flexible Budget Performance Report
For the Year Ended July 31, 2018
Complete the performance report. Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasoning?
Transcribed Image Text:
Flexible Sales Budget Results Variance Budget Actual Flexible Volume Static Variance Budget Units 35,000 (a) 35,000 5,000 F (g) $ 219,000 $ 27,000 F (C) $ 219,000 Sales Revenue (b) (h) 13,000 U 0) O) Variable Expenses 85,000 84,000 Contribution Margin 134,000 (d) 135,000 14,000 F Fixed Expenses 105,000 (e) 100,000 (k) $ 35,000 $ 14,000 F $ 29,000 Operating Income (f) (1)
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MURPHY COMPANY Flexible Budget Performance Report For the Year Ended July 31 2018 Actual Results Flexible Budget Variance Flexible Budget Sales Volume Variance Static Budget Units 35000 0 35000 5000 F ...View the full answer
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Related Book For
Horngrens Accounting
ISBN: 978-0134674681
12th edition
Authors: Tracie L. Miller nobles, Brenda L. Mattison, Ella Mae Matsumura
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