Homework: Chapter 7 Homework Question 10, E7-25 (similar to) HW Score: 38.84%, 11.65 of 30 points Save Part 1 of 6 Points: 0 of 2 Bombe, Inc., produces the basic fillings used in many popular frozen desserts and treats-vanilla and chocolate ice creams, puddings, meringues, and fudge. Cascade uses standard costing and carries over no inventory from one month to the next. The ice-cream product group's results for June 2020 were as follows: (Click the icon to view the results.) Read the requirements. - X Requirements 1 and 2. Calculate the static-budget Requirements ach static-budget variance relative to its static-budget amount? Break down each static-budget variance into a flexibl Begin with the flexible budget columns, then enter in percentage of the static budget. Label each variance as favorable (F) or unfavorable (U). (For variances with 1. Calculate the static-budget variance in units, revenues, variable Round dollar amounts to the nearest whole dollar and percentages to two decimal places, XXX%.) manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? Flexible- 2. Break down each static-budget variance into a flexible-budget variance and a sales-volume variance. Actual Budget 3. Calculate the selling-price variance. Results Variances 4. Assume the role of management accountant at Bombe. How would you X present the results to Jason Braun? Should he be more concerned? If so, Units (pounds) why? Revenues O Variable mfg. costs Contribution margin Print Done Help me solve this Etext pages Get more nelp - Clear all Check answerQuestion 10, E7-25 (similar to) HW Score: 38.84%, 11.65 of 30 points Homework: Chapter 7 Homework Save Part 1 of 6 O Points: 0 of 2 Bombe, Inc., produces the basic fillings used in many popular frozen desserts and treats-vanilla and chocolate ice creams, puddings, meringues, and fudge. Cascade uses standard costing and carries over no inventory from one month to the next. The ice-cream product group's results for June 2020 were as follows: (Click the icon to view the results.) Read the requirements. Requirements 1 and 2. Calculate the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? Break down each static-budget variance into a flexible-budget variance and a sales-volume variance. Begin with the flexible budget columns, then enter in the sales volume variance and static budget variances. Finally, compute the static budget variance as a percentage of the static budget. Label each variance as V favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Round dollar amounts to the nearest whole dollar and percentages to two decimal places, XXX%.) Flexible- Actual Budget Flexible Results Variances Budget X Units (pounds) Revenues O Variable mig. costs Contribution margin Help me solve this Etext pages Get more help - Clear all Check answerHomework: Chapter 7 Homework Question 10, E7-25 (similar to) HW Score: 38.84%, 11.65 of 30 points Save Part 1 of 6 O Points: 0 of 2 Bombe, Inc., produces the basic fillings used in many popu X idge. Cascade uses standard costing and carries over no inventory from one month to the next. The ice-cream product group's Data table (Click the icon to view the results.) Read the requirements. Performance Report, June 2020 Actual Results Static Budget 560,000 546,000 Requirements 1 and 2. Calculate the static-budget varian Units (pounds) e is each static-budget variance relative to its static-budget amount? Break down each static-budget variance into a flexible-bud Revenues $ 2,928,800 $ 2,893,800 Begin with the flexible budget columns, then enter in the SE Variable manufacturing costs 1,831,200 1,747,200 as a percentage of the static budget. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 b 1,097,600 $ 1,146,600 label. Round dollar amounts to the nearest whole dollar and percentages to two decimal places, X.XX%.) Contribution margin Flexible- Jason Braun, the business manager for ice-cream products, is pleased that more pounds of ice cream were sold than budgeted and that Actual Budget Flex revenues were up. Unfortunately, variable manufacturing costs went Results Variances Bud up, too. The bottom line is that contribution margin declined by $49,000, which is less than 2% of the budgeted revenues of X Units (pounds) $2,893,800. Overall, Braun feels that the business is running fine. Revenues O Variable mfg. costs Contribution margin Print Done Help me solve this Etext pages Get more help - Clear all Check