Red Draperies makes and sells curtains. Information related to its performance in 2020 is given below:...
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Red Draperies makes and sells curtains. Information related to its performance in 2020 is given below: (Click the icon to view the data.) Calculate Red Draperies' static-budget variance for (a) revenues, (b) variable costs, (c) fixed costs, and (d) operating income. Begin by determining all of the actual amounts, then the static budget amounts, and finally the static-budget variances. Label each variance as favorable (F) or unfavorable (U). Actual Results Units sold Revenues Variable costs Contribution margin Fixed costs Operating income Data table Units made and sold Selling price Variable costs Fixed costs $ $ Print Actual 1,160 $220 per curtain 168,000 72,000 $ Done Budgeted C - X 1,360 $224 per curtain $105 per curtain 70,000 Red Draperies makes and sells curtains. Information related to its performance in 2020 is given below: (Click the icon to view the data.) Calculate Red Draperies' static-budget variance for (a) revenues, (b) variable costs, (c) fixed costs, and (d) operating income. Begin by determining all of the actual amounts, then the static budget amounts, and finally the static-budget variances. Label each variance as favorable (F) or unfavorable (U). Actual Results Units sold Revenues Variable costs Contribution margin Fixed costs Operating income Data table Units made and sold Selling price Variable costs Fixed costs $ $ Print Actual 1,160 $220 per curtain 168,000 72,000 $ Done Budgeted C - X 1,360 $224 per curtain $105 per curtain 70,000
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Units Sold Revenues Less Variable Costs Contribution ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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