Budgeted and actual income statement data for XRC Corp., which sells clerical clothing and supplies, appear below:
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Budgeted and actual income statement data for XRC Corp., which sells clerical clothing and supplies, appear below:
| | Budgeted | Actual |
Revenue | $ 85,000 | $ 80,750 | |
Variable manufacturing costs | 13,000 | 12,500 | |
Fixed manufacturing costs | 5,000 | 5,200 | |
Variable selling expenses | 22,000 | 19,000 | |
Fixed selling expenses | 3,000 | 3,100 | |
Administrative expenses | 7,000 | 7,000 | |
Operating income | $ 35,000 | $ 33,950 |
The difference between the actual and budgeted amounts of revenue was created by differences between expected and actual unit sales.
Related Book For
Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
12th Edition
Authors: Charles H Gibson
Posted Date: