Slade Company's managers received the following incomplete performance report: E (Click the icon to view the...
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Slade Company's managers received the following incomplete performance report: E (Click the icon to view the incomplete performance report.) Complete the performance report. Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasons. Complete the performance report. (For accounts with a zero balance, make sure to enter "0" in the appropriate cell. Label each variance as favourable (F) or unfavourable (U). If the variance is zero, do not select a label.) Slade Company Income Statement Performance Report Year Ended July 31 Flexible Budget for Actual Results at Flexible Budget Actual Number of Sales Volume Static (Master) Actual Prices Variance Output Units Variance Budget 37,000 37,000 6,000 Output units $ 217,000 217,000 $ 21,000 Sales revenue Variable expenses 85,000 80,000 10,000 U Fixed expenses 112,000 100,000 197,000 180,000 10,000 Total expenses 20,000 37,000 $ 11,000 Operating income Incomplete performance report Slade Company Income Statement Performance Report Year Ended July 31 Flexible Budget for Actual Results at Flexible Budget Actual Number of Sales Volume Static (Master) Actual Prices Variance Output Units Variance Budget Output units 37,000 ? 37,000 6,000 F ? 217,000 217,000 $ 21,000 F ? ? Sales revenue Variable expenses 85,000 ? 80,000 10,000 U 112,000 ? 100,000 -0- Fixed expenses 197,000 180,000 10,000 U ? ? Total expenses $ 20,000 ? 2$ 37,000 $ 11,000 Operating income Print Done Slade Company's managers received the following incomplete performance report: E (Click the icon to view the incomplete performance report.) Complete the performance report. Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasons. Complete the performance report. (For accounts with a zero balance, make sure to enter "0" in the appropriate cell. Label each variance as favourable (F) or unfavourable (U). If the variance is zero, do not select a label.) Slade Company Income Statement Performance Report Year Ended July 31 Flexible Budget for Actual Results at Flexible Budget Actual Number of Sales Volume Static (Master) Actual Prices Variance Output Units Variance Budget 37,000 37,000 6,000 Output units $ 217,000 217,000 $ 21,000 Sales revenue Variable expenses 85,000 80,000 10,000 U Fixed expenses 112,000 100,000 197,000 180,000 10,000 Total expenses 20,000 37,000 $ 11,000 Operating income Incomplete performance report Slade Company Income Statement Performance Report Year Ended July 31 Flexible Budget for Actual Results at Flexible Budget Actual Number of Sales Volume Static (Master) Actual Prices Variance Output Units Variance Budget Output units 37,000 ? 37,000 6,000 F ? 217,000 217,000 $ 21,000 F ? ? Sales revenue Variable expenses 85,000 ? 80,000 10,000 U 112,000 ? 100,000 -0- Fixed expenses 197,000 180,000 10,000 U ? ? Total expenses $ 20,000 ? 2$ 37,000 $ 11,000 Operating income Print Done
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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