QS 23-2 (Algo) Flexible budget cost calculations LO P1Based on predicted production of 25,100 units, a company budgets $360,000 of fixed costs and $476,900 of variable costs. Ifthe company actually produces 18,600 units, what are the flexible budget amounts of fixed and variable costs?------Flexible Budget------Variable costFixed costs་Variable Amountper UnitTotal Fixed Cost18,600 units19.00$476,900

Variable cost per unit remains the same but varies directly in relation to the volume. Fixed cost,…

Answered: QS 23-2 (Algo) Flexible budget cost…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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F Based on predicted production of 25,000 units, a company budgets $280,000 of fixed costs and $275,000 of variable costs. If the company actually produces 19,800 units, what are the flexible budget amounts of fixed and variable costs? -----Flexible Budget------ Variable Amount per Unit Total Fixed Cost 19,800 units $ 275,000 Variable cost Fixed costs 280,000 2 W S # 3 E D $ 4 $ D R F 4 U 8 J 9 K
Subject: cost accounting Q.10 From the following data, prepare flexible budget for production of 40000 units and75000 units, distinctly showing variable cost and fixed cost as well as total cost. Also indicateelements wise cost per unit. Budget output is 100000 units and budgeted cost per unit is asfollows-Direct material 95Direct labour 50Production overhead (variable) 40Production overhead (fixed) 05Administration overhead (fixed) 05Selling overhead (10% fixed) 10Distribution expenses (20% fixed) 15
le 12L x Connect neducation.com e i Saved Jones Company developed the following static budget at the beginning of the company's accounting period: Revenue (10, 500 units) $21,000 5,250 $15,750 5,250 $10,500 Variable costs Contribution margin Fixed costs Net income If actual production totals 10,900 units, the flexible budget would show total costs of: Multiple Choice
QS 21-2 (Algo) Flexible budget cost calculations LO P1 Based on predicted production of 25,500 units, a company budgets $390,000 of fixed costs and $459,000 of variable costs. If the company actually produces 18,200 units, what are the flexible budget amounts of fixed and variable costs? Variable cost Fixed costs ------Flexible Budget------ Variable Amount per Unit Total Fixed Cost 18,200 units
QUESTION 5 The following budgeted profit statement has been prepared using absorption costing principles.A company manufactures and sells a single product which has the following cost and sellingprice structure: P/unit P/unit Selling price P120 Direct material 22 Direct labour 36 Variable overhead 14 Fixed overhead 12 P84 Profit per unit P36 The fixed overhead absorption rate is based on the normal capacity of 2,000 units per month.Assume that the same amount is spent each month on fixed overheads.Budgeted sales for next month are 2,200 units.You are required to calculate:a. The breakeven point, in sales units per month. b. The margin of safety for the next month. c. The budgeted profit for the next month. d. The sales required to achieve a profit of P96,000.
Q Questions 39-40 refer to the following: The Minard company uses the following condensed flexible budget for manufacturing overhead: Variable overhead $5.80 per direct labor hour Budgeted fixed overhead $420,000 per year At an activity level of 600,000 direct labor hours per year, the budgeted total manufacturing overhead cost would be: F1 Multiple Choice @ 2 W $3,840,000 $3,900,000 $1,020,000 $420,000 F2 # 3 L APR 28 80 F3 $ 4 Q F4 % 5 * DII 8 FB A 19
QUESTION 1 A company manufactures and sells a single product. Budgeted data per unit of the product is: (20 Marks) Selling Price Variable Cost* Fixed Production overhead R 8.50 3.70 2.90 *All variable costs are manufacturing i.e there are no non-manufacturing variable costs. The above fixed production overhead absorption rate is based on budgeted production of 12,000 units per period. Budgeted non-production overhead (all fixed) is R16, 800 per period. Actual sales and production for two periods has been: Sales Production Period 1 11 600 units 12 000 units Period 2 12 400 units 12 300 units There was no stock at the start of Period 1. The selling price, unit variable costs and total fixed costs were as per budget in both periods. REQUIRED 1.1 Prepare statements of Comprehensive income for both periods (ie period 1 & Period 2), using absorption costing, showing the actual results for each of the two periods. (7) The company wishes to compare the results reported in (1.1) above with…
Exercise 18-21 (Algo) Predicting unit and dollar sales using contribution margin LO C2 Nombre Company management predicts $1,632,000 of variable costs, $2,213,000 of fixed costs, and income of $235,000 in the next period. Management also predicts that the contribution margin per unit will be $51. (1) Compute the total expected dollar sales for next period. Contribution margin Income (2) Compute the number of units expected to be sold and produced next period. Numerator: 1 Denominator: = = Units Units
q1: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 10,000 15,000 20,000 Rs. Rs. Rs. Sales 800,000 1,200,000 1,600,000 Manufacturing cost: Variable 300,000 450,000 600,000 Fixed 200,000 200,000 200,000 Total manufacturing cos 500,000 650,000 800,000 Marketing and other expenses: Variable 200,000 300,000 400,000 Fixed 160,000 160,000 160,000 Total Marketing and other exp 360,000 460,000 560,000 Operating income…
QUESTION 39 Complete the Flexible Budget Performance Report below: Sales Revenue Total Variable Costs Total Fixed Costs Total Variable Costs at 120 hours = Master Budget (100 hours) $2,000 $400 $300 Flexible Budget (120 hours) ? ? ?
A fixed budget for 72,000 units of production shows $132,480 of sales, $95,040 of variable costs, and $38,120 of fixed costs Compute the flexible budget income if the company actually produces and sells 82,000 units Fixed costs Variatre costs Contribution margin Variable Amount per S 0.00 Total Fixed Gost Flexible Budget for 02,000 Unit $ $ 0
--/1 Question 14 View Policies Current Attempt in Progress At 9,000 direct labor hours, the flexible budget for indirect materials is $27,000. If $28,000 of indirect materials costs are incurred at 9,200 direct labor hours, the flexible budget report should show the following difference for indirect materials O $400 favorable. O $1,000 favorable. O $400 unfavorable. O $1,000 unfavorable.

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