Use the information for Tolstoy Corporation in Problem 16-43 to prepare a profit variance analysis like the
Question:
Use the information for Tolstoy Corporation in Problem 16-43 to prepare a profit variance analysis like the one in Exhibit16.5.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Transcribed Image Text:
Flexible Budget (based on actual activity of Master Budget (based orn Actual (based on actual activity of Manufacturing Sales Price Variance activity of 100,000 units) 80,000 units Variances Variances 80,000 units) Variance Sales revenue $ 840,000 S40,000 F $ 800,000 S200,000 U S1,000,000 Variable costs Variable manufacturing costs Variable selling and administrative Contribution margin Fixed costs $25,680 U $25,680 U 4,500 F $21.180 U 329,680 68,000 $442,320 76,000 F 18,000 F $ 424,000 S 106,000 U 304,000 $4,000 F $4,000 F 40,000 F 380,000 90,000 530,000 72,000 Fixed selling and administrative costs Profit 195,500 132,320 $114,500 7,680 F S11,680 F $40,000 F 200,000 140,000 84,000 S 106,000 U 200,000 140,000 190,000 The individual cost variances are shown in Exhibit 16.11
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Sales revenue Variable costs Manufacturing Direct labor Materials O...View the full answer
Answered By
Muhammad Haroon
More than 3 years experience in teaching undergraduate and graduate level courses which includes Object Oriented Programming, Data Structures, Algorithms, Database Systems, Theory of Automata, Theory of Computation, Database Administration, Web Technologies etc.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Question Posted:
Students also viewed these Managerial Accounting questions
-
Use the information from Exercise 16-22 to prepare a profit variance analysis for Data-2-Go like the one in Exhibit16.5. DE 17) Master Budget (based on Budget (based on actual activity of Actual...
-
Use the information for Wing Corporation and Sharda Inc. from BE20-11. Assume that Sharda, the lessor, has a June 30 year end. Prepare Sharda's entry on August 15, 2014, and any adjusting entry...
-
Use the information for Regina Corporation from BE20-16. Assume instead that the residual value is not guaranteed. Prepare Regina's May 29, 2014 journal entries.
-
Explain why it has been suggested that the new rules in IFRS 16 could bring the biggest shake-up to retailers financial statements for decades.
-
The capital accounts for Alston Market on June 30, 2013, are as follows: Common stock, $6 par, 50,000 shares issued and outstanding. . . . . . . . . . . . . . . . . $ 300,000 Paid-in capital in...
-
An empty dump truck coasts freely with its engine off along a level road. (a) What happens to the trucks speed if rain starts to fall and water collects in it? (b) The rain stops and the accumulated...
-
A friend has asked you for help. She is an entrepreneur and would like to start a company to pursue her dream of designing and selling a line of childrens toys. She has heard the term stakeholder...
-
PDQ Repairs has 200 auto-maintenance service outlets nationwide. It performs primarily two lines of service: oil changes and brake repair. Oil change-related services represent 70% of its sales and...
-
11. If a,b,x,ye R,@ #1, is a cube root of unity and (a+b)=x+yo, then (b+aw)' equals: (a) y+x@ 6 (c) -y-xw 12. The value of S = sin- -icos- (c) y+yw (d) -x-ya 2k is: 7 (c)-i (d) i , then value of...
-
Porter Investments needs to develop an investment portfolio for Mrs. Singh from the following list of possible investments: Mrs. Singh has a total of $60,000 to invest. The following conditions must...
-
Refer to the data in Problem 16-43. Prepare a sales activity variance analysis for Tolstoy Corporation like the one in Exhibit16.4. Flexible Budget Sales Activity Master Budget (based on planned...
-
Hayden Corporation provides you with the following information for the month of June: Required Prepare a flexible budget for Hayden Corporation forJune. Actual (based on actual sales of 21,000 units)...
-
Brinell hardness tests were made on a random sample of 10 steel parts during processing. The results were HB values of 252 (2), 260, 254, 257 (2), 249 (3), and 251. Estimate the mean and standard...
-
Could anyone help me with ArrayReverser, LeapYear , ExceptionZero . so that I could understand it better thanks advance. Reverser.java public class Reverser extends Presenter{ // method to reverse an...
-
what is a good topic with specific purpose and a clear thesis for an informative speech assignment for my communications class I am having trouble picking a topic any suggestion ?
-
An organization's customer is the person or group that buys its product. Some people buy and use a certain McDonald's hamburger, and others simply eat at the restaurant. Knowing who uses their...
-
I need help to implement the doubly LinkedList project: package project; import java.io.FileNotFoundException; public enum Move { LEFT, RIGHT, UP, DOWN, DBL_LEFT, DBL_RIGHT, DBL_UP, DBL_DOWN /** *...
-
Carmens Beauty Salon has estimated monthly financing requirements for the next six months as follows: January $ 10,100 April $ 10,100 February 4,100 May 11,100 March 5,100 June 6,100 Short-term...
-
Sketch the root loci for the control system shown in Fig. P5.5(a). Determine the range of parameter \(\mathrm{K}\) for stability. Apply the angle criterion to show that root locus branches consist of...
-
Write a program to move a signed number from smaller register to bigger register. Hint: movzx ax, bl Topic: Data Related Operators and Directives in assembly language
-
a. Show that the population P in the logistic equation reaches half the maximum population M at time t given by: b. Derive the form given by Equation (11.12) for population growth according to the...
-
The following data are taken from the production records at Plant #2 of GP Industries for March. Work-in-process beginning inventory consisted of 10,000 units fully complete with respect to materials...
-
Refer to the data in Exercise 8-24. Suppose that GP Industries uses FIFO process costing at Plant #2 for product costing. Required The following equivalent units (materials; conversion) used to...
-
Coastal Cycles makes three models of electric bicycles: E20, E35, and E60.The models differ by the size of the battery and the quality of the components. The bicycles are produced in two departments....
-
1. Develop a definition for the Triple C model of project management. 2. List some of the factors that can impede the flow of information for project planning purposes. How can these factors be...
-
The Meat Mart has $900,000 in net income. The firm has 200,000 shares of stock outstanding. The market price per share is $76. What is the PE (price to earnings) ratio?
-
Cost of Goods Manufactured for a Manufacturing Company The following information is available for Fuller Manufacturing Company for the month ending January 31: Cost of direct materials used in...
Study smarter with the SolutionInn App