Use the standard price and cost data supplied in Problem 15-18. Assume that Holligan actually produced and
Question:
Use the standard price and cost data supplied in Problem 15-18. Assume that Holligan actually produced and sold 31,000 books. The actual sales price and costs incurred follow.
Required
a. Determine the flexible budget variances. Provide another name for the fixed cost flexible budget variance.
b. Indicate whether each variance is favorable (F) or unfavorable (U).
c. Identify the management position responsible for each variance. Explain what could have caused thevariance.
Transcribed Image Text:
Actual price and variable costs: Sales price Materials Labor Overhead General, selling, and administrative $36.00 9.10 4.10 6.20 6.10 Actual fixed costs: Manufacturing General, selling, and administrative $120,000 55,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
a b Number of units 31000 31000 Flexible Actual Flexible Budget Budget Results Variances Sales reven...View the full answer
Answered By
Mishark muli
Having any assignments and any other research related work? worry less for I am ready to help you with any task. I am quality oriented and dedicated always to produce good and presentable work for the client once he/she entrusts me with their work. i guarantee also non plagiarized work and well researched work to give you straight As in all your units.Feel free to consult me for any help and you will never regret
4.70+
11+ Reviews
37+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Use the standard price and cost data supplied in Problem 8-20A. Assume that Lloyd actually produced and sold 32,000 books. The actual sales price and costs incurred follow. Actual price and variable...
-
Use the standard price and cost data supplied in Problem 8-20B. Assume that Truebody actually produced and sold 432,000 units. The actual sales price and costs incurred follow. Actual price and...
-
Use the standard price and cost data supplied in Problem 8-20A. Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow: Actual price and...
-
Table P-23 contains Southwest Airlines' quarterly income before extraordinary items ($MM) for the years 1988-1999. a. Plot the income data as a time series and describe any patterns that exist. b. Is...
-
Hill-O-Beans Coffee Company blends four component beans into three final blends of coffee: one is sold to luxury hotels, another to restaurants, and the third to supermarkets for store label brands....
-
A cyclist and his bicycle have a total mass of 81 kg. The cyclist starts from rest and rides in a straight line. The cyclist exerts a constant force of 135 N and the motion is opposed by a resistance...
-
Pin fins are to be specified for use in an industrial cooling application. The fins will be subjected to a gas in cross flow at \(V=10 \mathrm{~m} / \mathrm{s}\). The cylindrical fin has a diameter...
-
A company wants to set up a new office in a country where the corporate tax rate is as follows: 15% of first $50,000 profits, 25% of next $25,000, 34% of next $25,000, and 39% of everything over...
-
Smithson Electric provides residential and business electric repair services. While direct labor and materials costs are traced to individual customers, administrative labor and transportation costs...
-
Graham Potato Company has projected sales of $6,000 in September, $10,000 in October, $16,000 in November, and $12,000 in December. Of the companys sales, 20 percent are paid for by cash and 80...
-
Holligan Publications established the following standard price and costs for a hardcover picture book that the company produces. Holligan planned to make and sell 30,000 copies of the book. Required...
-
Sam Yu, the president of Centech Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its...
-
What is the average collection cycle for Rian Company? Use the below information for solving the question 2008 Selected Income Statement Items for Rian Company Cash Sales ..... $ 298,000 Credit Sales...
-
Summarize the two theories on how schooling is correlated with health status. Which of the two theories does the evidence support?
-
(a) Identify the four factors which cause non-current assets to depreciate. (b) Which one of these factors is the most important for each of the following assets? (i) a gold mine; (ii) a van; (iii) a...
-
If the price elasticity of demand is 0.5 and the income elasticity is +0.3, then what will be the effect of a simultaneous 10 percent increase in price and a 10 percent increase in income on health...
-
Explain how the demand for health insurance is related to the demand for health care. Would the demand for health care then depend also on whether the person paid for the insurance or alternatively...
-
Suppose that John could work 365 days per year and could earn $200 per day for each day he worked. Draw his budget line with respect to his laborleisure choice.
-
Underwater Technology stock is currently trading at $30 a share. A call option on the stock with a $25 strike price currently sells for $12. What are the exercise value and the premium of the call...
-
A company produces earbuds. The revenue from the sale of x units of these earbuds is R = 8x. The cost to produce x units of earbuds is C = 3x + 1500. In what interval will the company at least break...
-
Extend the dogs world grammar to include adjectives in noun phrases. Be sure to allow an indeterminate number of adjectives. Use a recursive rule, adjective_list, that either is empty or contains an...
-
Seabury, Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October 2012. The company expected to operate the...
-
The director of marketing for Truss Industries Inc., Ellen Knutson, had the following discussion with the company controller, Bud Wyckoff, on February 26 of the current year: Ellen: Bud, it looks...
-
A bank manager of Oxford First Bank Inc. uses the managerial accounting system to track the costs of operating the various departments within the bank. The departments include Cash Management, Trust,...
-
If you weigh your portfolio in 80% risky and 20% risk-free t bills. The optimal risky portfolio consists of 40% in bonds and 60% in ETFs. How much will you have invested in t-bills, bonds, and etfs?
-
b. A 25-year mortgage loan of $184,000 at a 10 percent compound annual interest rate with equal installment payments at the end of each year.
-
What are Cloud-based Services? How does this differ to the common virtualization model?
Study smarter with the SolutionInn App