Required information Use the following information for the Quick Study below. (Algo) [The following information applies...

Transcribed Image Text:

Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 21,200 units of production shows sales of $593,600; variable costs of $63,600; and fixed costs of $141,000. QS 23-3 (Algo) Flexible budget income calculation LO P1 If the company actually produces and sells 27,800 units, calculate the flexible budget income. ------Flexible Budget- -Flexible Budget at- Variable Amount per Unit Total Fixed Cost 21,200 units 27,800 units Contribution margin $ 0 $ 0 $ 0 $ 0 $ 0 S Next > Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.) The fixed budget for 21,200 units of production shows sales of $593,600; variable costs of $63,600; and fixed costs of $141,000. Help Save QS 23-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 27,800 units at $734,400. Actual variable costs were $113,100 and actual fixed costs were $132,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable or Unfavorable Contribution margin 0 0. $ 0 $ 0 < Prev 9 82 of 4 Next QS 23-8 (Algo) Direct materials price and quantity variances LO P3 A company reports the following for one of its products. Direct materials standard (3 pounds @ $3 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used $9 per unit 250,000 pounds 60,000 units $687,500 AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Actual Cost x 0 $ 0 $ 0 0 x x $ < Prev 3 of 4 Next Standard Cont Help Save & Ex Chec Derr Company reports the following. Compute (a) controllable variance, (b) volume variance, and (c) total overhead variance. Actual total overhead Standard overhead applied Budgeted (flexible) overhead at units produced $ 1,010 800 930 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute controllable variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Controllable variance Controllable Variance < Prev 4 of 4 Next > 800 930 Complete this question by entering your answers in the tabs below. Required 1 Required [2 Required 3 Compute volume variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Volume Variance Volume variance < Required 1 Required 3 > < Prev 4 of 4 Next > QS 23-13 (Algo) Overhead variances: total, controllable, and volume LO P4 Derr Company reports the following. Compute (a) controllable variance, (b) volume variance, and (c) total overhead variance. Actual total overhead Budgeted (flexible) overhead at units produced ok Standard overhead applied k $ 1,010 800 930 Complete this question by entering your answers in the tabs below. nt ences Required 1 Required 2 Requited 3 Compute total overhead variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Total Overhead Variance Overhead variance. < Required 2 Required 3> < Prev 4 of 4 Next > Chen Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 21,200 units of production shows sales of $593,600; variable costs of $63,600; and fixed costs of $141,000. QS 23-3 (Algo) Flexible budget income calculation LO P1 If the company actually produces and sells 27,800 units, calculate the flexible budget income. ------Flexible Budget- -Flexible Budget at- Variable Amount per Unit Total Fixed Cost 21,200 units 27,800 units Contribution margin $ 0 $ 0 $ 0 $ 0 $ 0 S Next > Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.) The fixed budget for 21,200 units of production shows sales of $593,600; variable costs of $63,600; and fixed costs of $141,000. Help Save QS 23-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 27,800 units at $734,400. Actual variable costs were $113,100 and actual fixed costs were $132,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable or Unfavorable Contribution margin 0 0. $ 0 $ 0 < Prev 9 82 of 4 Next QS 23-8 (Algo) Direct materials price and quantity variances LO P3 A company reports the following for one of its products. Direct materials standard (3 pounds @ $3 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used $9 per unit 250,000 pounds 60,000 units $687,500 AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Actual Cost x 0 $ 0 $ 0 0 x x $ < Prev 3 of 4 Next Standard Cont Help Save & Ex Chec Derr Company reports the following. Compute (a) controllable variance, (b) volume variance, and (c) total overhead variance. Actual total overhead Standard overhead applied Budgeted (flexible) overhead at units produced $ 1,010 800 930 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute controllable variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Controllable variance Controllable Variance < Prev 4 of 4 Next > 800 930 Complete this question by entering your answers in the tabs below. Required 1 Required [2 Required 3 Compute volume variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Volume Variance Volume variance < Required 1 Required 3 > < Prev 4 of 4 Next > QS 23-13 (Algo) Overhead variances: total, controllable, and volume LO P4 Derr Company reports the following. Compute (a) controllable variance, (b) volume variance, and (c) total overhead variance. Actual total overhead Budgeted (flexible) overhead at units produced ok Standard overhead applied k $ 1,010 800 930 Complete this question by entering your answers in the tabs below. nt ences Required 1 Required 2 Requited 3 Compute total overhead variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Total Overhead Variance Overhead variance. < Required 2 Required 3> < Prev 4 of 4 Next > Chen