Winston Co. had two products code named X and Y. The firm had the following budget...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Winston Co. had two products code named X and Y. The firm had the following budget for August: Product X Product Y Sales $286,000 $520,000 Total $806,000 Variable Costs 189,800 218,400 408,200 Contribution Margin Fixed costs $ 96,200 50,000 $301,600 $397,800 108,000 158,000 Operating Income $ 46,200 Selling Price per unit $ 110.00 $193,600 $ 50.00 $239,800 On September 1, the following actual operating results for August were reported: Product X Product Y Sales $360,000 $540,000 Total $900,000 Variable Costs 195,000 216,000 411,000 Contribution Margin $165,000 $324,000 $489,000 Fixed costs Operating Income 50,000 $115,000 108,000 158,000 Units Sold 3,000 $216,000 9,000 $331,000 Total industry volume for both products X and Y was estimated to be 130,000 units at the time of the budget. Actual industry volume for the period for products X and Y was 100,000 units. The contribution margin sales volume variance for Product Y is: Winston Co. had two products code named X and Y. The firm had the following budget for August: Product X Product Y Sales $286,000 $520,000 Total $806,000 Variable Costs 189,800 218,400 408,200 Contribution Margin Fixed costs $ 96,200 50,000 $301,600 $397,800 108,000 158,000 Operating Income $ 46,200 Selling Price per unit $ 110.00 $193,600 $ 50.00 $239,800 On September 1, the following actual operating results for August were reported: Product X Product Y Sales $360,000 $540,000 Total $900,000 Variable Costs 195,000 216,000 411,000 Contribution Margin $165,000 $324,000 $489,000 Fixed costs Operating Income 50,000 $115,000 108,000 158,000 Units Sold 3,000 $216,000 9,000 $331,000 Total industry volume for both products X and Y was estimated to be 130,000 units at the time of the budget. Actual industry volume for the period for products X and Y was 100,000 units. The contribution margin sales volume variance for Product Y is:
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Which of the following does NOT accurately describe statistical sampling? involves random sampling costs less than non-statistical sampling uses probability theory to determine sample size uses...
-
Group Statistics N Mean Std. Deviation Std. Error mean MAEDUC Highest year school completed, mother MALE 928 12.05 3.817 .125 SEX Respondents sex FEMALE 1161 11.74 3.817 .112
-
Study the information given below and answer the following questions: (25 Marks) 1.1 Calculate the Payback Period of both machines (answers expressed in years, months and days). (5 marks) 1.2 Which...
-
a. An autoregressive model is given by: Yt = 20.58 + 0.046 yt-1 + 0.01Yt-2 where Y, = sales of a product. Explain the meaning of the terms in this autoregressive model. b. Write the expressions for...
-
At the beginning of the year, Buxton Builders purchased raw materials in the amount of $ 15,000 to produce goods to sell with cash. What is the effect of this transaction on the accounting equation?
-
Upon inspecting the books and records for Wernli Company for the year ended December 31, 2013, you find the following data: (a) A receivable of $640 from Hatch Realty is determined to be...
-
In October, Hilo Company reports 21,000 actual direct labor hours, and it in- curs \($98,000\) of manufacturing overhead costs. Standard hours allowed for the work done is 20,000 hours. The...
-
White Woods manufactures jewelry boxes. The primary materials (wood, brass, and glass) and direct labor are assigned directly to the products. Manufacturing overhead costs are allocated based on...
-
A cookie is selected at random from a basket containing 24 sugar cookies, 21 caramel cookies, 3 peanut butter cookies, and 32 mint cookies. Find the probability that a sugar or a mint cooki selected....
-
A message sends 10 packets. The probability that a packet fails is 0.1. If 3 or more packet fails, the entire message fails. A) What is the probability that you send 3 messages, and the 3 of them...
-
Write down the constitutive relationship of the incompressible viscous fluid micro-cluster motion. In the steady flow of a straight pipe with constant cross section, what is the constitutive...
-
How is t test conducted for two independent samples?
-
Draw contour diagrams to show the state of execution after the execution of the following code segment: String s1, s2, s3, s4; sl = new String("stirrup irons"); s2 "stirrup irons"; new...
-
Who are the buyers who purchase research information from suppliers?
-
What pricing objectives might marketers choose?
-
Question 1 (1 point) Given the base address prefix of 8 and the number of borrowed (transformed) bits of 18, calculate the following values: 1. New prefix length: A/ (no leading /) Number of subnets:...
-
Is it ethical to provide safety training in English to immigrant workers who speak little English, in order to reduce costs?
-
Lieberman Clothing Company manufactures its own designed and labeled sports attire and sells its products through catalog sales and retail outlets. While Lieberman has for years used activity-based...
-
Alpha-Alpha Inc. produces meat products. Suppose one of the companys plants processes beef cattle into various products. For simplicity, assume that there are only three productssteak, hamburger, and...
-
A cable television network is considering cancelling the program Law and Order because it is watched by only 2.3 percent of the audience in its Monday evening time slot. It would be replaced by...
Study smarter with the SolutionInn App