Hughes Industries reported the following actual vs. budgeted performance for the year. REQUIRED: Compute the variances by
Question:
Hughes Industries reported the following actual vs. budgeted performance for the year.
REQUIRED:
Compute the variances by line item for Hughes Industries.
Transcribed Image Text:
Line Item Actual Budgeted Sales $ 3,250,500 $ 3,500,750 Less: Cost of Goods Sold 1,657,750 1,767,880 Gross Margin $ 1,592,750 $ 1,732,870 Less: Selling, General, and Administrative 796,400 831,800 Net Income Before Tax $ 796,350 $ 901,070
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Related Book For
Managerial Accounting An Integrative Approach
ISBN: 9780999500491
2nd Edition
Authors: C J Mcnair Connoly, Kenneth Merchant
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