Refer to the information in Problem 8-2B. Toronto Company's actual income statement for 2009 follows. Required 1.
Question:
Refer to the information in Problem 8-2B. Toronto Company's actual income statement for 2009 follows.
Required
1. Prepare a flexible budget performance report for 2009.
Analysis Component
2. Analyze and interpret both the
(a) Sales variance and
(b) Direct materialsvariance.
Transcribed Image Text:
TORONTO COMPANY Statement of Income from Operations For Year Ended December 31, 2009 Sales (10,500 unlts) Cost of goods sold $1,596.000 Direct labor Machinery repalrs (varlable cost) Depreci 157.500 26,250 ..125.000 lation-machinery... . Plant manager salarles77500 1.103.750 Gross proft Selling expenses 492,250 Packaging . . ._ ...39,375 Sales salary (annual) .. 81,000 74.625 Advertising expense ..52.000 Entertainment expense_ General and administrative expenses 50,000218,000 $99.625 Income from operat tions
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Evaluating manufacturing processes by designing and conducting research programs; applying knowledge of product design, fabrication, assembly, tooling, and materials; conferring with equipment vendors; soliciting observations from operators. Developing manufacturing processes by studying product requirements; researching, designing, modifying, and testing manufacturing methods and equipment; conferring with equipment vendors. Keeping equipment operational by coordinating maintenance and repair services; following manufacturer's instructions and established procedures; requesting special service.
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