Line Brodrick Company expects to produce 20,700 units for the year ending December 31. A flexible...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Line Brodrick Company expects to produce 20,700 units for the year ending December 31. A flexible budget for 20,700 units of production reflects sales of $455,400; variable costs of $62,100; and fixed costs of $144,000. QS 21-4 Flexible budget performance report LO P1 Assume that actual sales for the year are $538,800 (26,400 units), actual variable costs for the year are $113,900, and actual fixed costs for the year are $131,000. Prepare a flexible budget performance report for the year. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no varlance.) BRODRICK COMPANY Flexible Budget Performance Report For Year Ended December 31 Flexible Budget Actual Results Variances Favorable! Unfavorable Sales $ 538,800 455,400 $ 62,100 Variable expenses 113,900 Contribution margin 393,300 424,900 Fixed expenses 131,000 Income from operations 393,300 $ 293,900 $ Unfavorable Favorable Unfavorable Favorable Unfavorable Line Brodrick Company expects to produce 20,700 units for the year ending December 31. A flexible budget for 20,700 units of production reflects sales of $455,400; variable costs of $62,100; and fixed costs of $144,000. QS 21-4 Flexible budget performance report LO P1 Assume that actual sales for the year are $538,800 (26,400 units), actual variable costs for the year are $113,900, and actual fixed costs for the year are $131,000. Prepare a flexible budget performance report for the year. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no varlance.) BRODRICK COMPANY Flexible Budget Performance Report For Year Ended December 31 Flexible Budget Actual Results Variances Favorable! Unfavorable Sales $ 538,800 455,400 $ 62,100 Variable expenses 113,900 Contribution margin 393,300 424,900 Fixed expenses 131,000 Income from operations 393,300 $ 293,900 $ Unfavorable Favorable Unfavorable Favorable Unfavorable
Expert Answer:
Answer rating: 100% (QA)
Explainations Sales Variable expenses Contribution margi... View the full answer
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
Students also viewed these accounting questions
-
Brodrick Company expects to produce 20,000 units for the year ending December 31. A flexible budget for 20,000 units of production reflects sales of $ 400,000; variable costs of $ 80,000; and fixed...
-
For the year ending December 31, 2012, Vail Inc. reports net income $140,000 and dividends $85,000. Prepare the retained earnings statement for the year assuming the balance in retained earnings on...
-
The following information for the year ending December 31, 2011, has been provided for Calle Company. Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
In Boolean algebra, the bar sign (-) indicates: Select one: a. NOT operation b. AND operation C. OR operation d. All of the mentioned
-
Swanson & Hiller, Inc., purchased a new machine on September 1, 2008 at a cost of $108,000. The machines estimated useful life at the time of the purchase was five years, and its residual value was...
-
A major supermarket chain wants to determine the effect of promotion on relative competitiveness. Data were obtained from 15 states on the promotional expenses relative to a major competitor...
-
From the following accounts of Kurlz Salon, Inc., prepare the businesss statement of retained earnings for the year ended December 31, 2010: Retained Earnings Dividends Clo 95,000 Jan 1 188,000 Mar...
-
Rembrandt Frame Company prepared the following sales budget for the current year: At the end of December 2008, the following unit sales data were reported for the year: For the year ending December...
-
Adidas inventory was destroyed by a hurricane on January 1, 2021. The following information was available for calendar 2020: Sales....... Net purchases..... Beginning inventory $850,000 700,000...
-
Darlene is a stunt motorcyclist in a traveling circus. For the climax of her show, she takes off from the ramp at angle , clears a fiery ditch of width x, and lands on an elevated platform (height H)...
-
Jenny Johnson has come into your Melbourne travel agency to enquire about a cruise. She is looking for a family friendly cruise to Vanuatu or Fiji for herself, partner and their young daughter. The...
-
1. Explore a recent situation in which you experienced negative emotion and describe how you handled it. Describe your reaction and behaviors. 2. Explore what might be at the root of these emotions:...
-
Mclennon company had an accounts receivable balance of 3 2 0 , 0 0 0 and a credit balance in allowance for uncollectible accounts of 1 6 , 7 0 0 at january 1 2 0 1 4
-
How should an assistant communicate with non-English-speaking patients and with patients who are visually and/or hearing impaired? How have you handled this situation in your school or work life, and...
-
1. Amaron.con is testing a new robot. Data collected from a test run showed an average cycle time of 4 minutes per job. The maximum cycle time, to be exceeded by only 3.4 jobs out of every one...
-
Describe how you believe trauma-informed leadership will develop in three to five paragraphs. Do you think companies in all sectors are obligated to treat workplace trauma? Should employers be held...
-
Using the Straight Line (SL) depreciation method, what is the (a) annual depreciation charge, Dt=?, (b) the total accumulated depreciation charge, D3=?, at the end of year 3, and (c) the Book Value,...
-
In Problem use absolute value on a graphing calculator to find the area between the curve and the x axis over the given interval. Find answers to two decimal places. y = x 3 ln x; 0.1 x 3.1
-
Hallam Companys financial statements show the following. The company recently discovered that in making physical counts of inventory, it had made the following errors: Inventory on December 31, 2012,...
-
Piaggio applies overhead to product costs. What account(s) is (are) used to eliminate overapplied or underapplied overhead from the Factory Overhead account, assuming the amount is not material?
-
Britney Brown, the plant manager of LMN Co. s Chicago plant, is responsible for all of that plants costs other than her own salary. The plant has two operating departments and one service department....
-
Consider a bivariate time series \(\boldsymbol{z}_{t}\), where \(z_{1 t}\) is the change in monthly U.S. treasury bills with maturity 3 months and \(z_{2 t}\) is the inflation rate, in percentage, of...
-
Consider the growth rates, in percentages, of the quarterly real GDP of United Kingdom, Canada, and the United States used in the chapter. Fit a VAR(4) model to the series, simplify the model by...
-
Consider the U.S. quarterly gross private saving (GPSAVE) and gross private domestic investment (GPDI) from first quarter of 1947 to the third quarter of 2012. The data are from the Federal Reserve...
Study smarter with the SolutionInn App