Compute the flexible budget net income for an actual sales

Assignment Help Accounting Basics
Reference no: EM133132621

Question - From the planning (static) budget: Sales = 8,000 units, Variable expenses per unit = $150.00, contribution margin (CM) % = 25.0%, and fixed expenses = $100,000. Compute the flexible budget net income for an actual sales volume of 6,000 units.

Reference no: EM133132621

Questions Cloud

Compute net income for the flexible budget : The revised contribution margin ratio was 30.00% and actual fixed expenses totaled $10,000. Compute Net Income for the Flexible Budget
Calculate the cost of goods sold and ending inventory : Calculate the Cost of Goods Sold and Ending Inventory (in the table provided), using the Average Cost method of Inventory Valuation
What is the monthly payment : That is, the stated interest agreed on the loan) of the loan is 3.2% per year, what is the monthly payment if you're intended to have the loan for 6 years
Compute the change in net income : Fixed expenses: Plan = $90,000; Actual = $120,000. Compute the change in Net Income between the Flexible Budget and Actual Results
Compute the flexible budget net income for an actual sales : From the planning (static) budget: Sales = 8,000 units, Variable expenses per unit = $150.00, Compute the flexible budget net income for an actual sales
List any professional standards requirements breached : List any professional standards and regulatory requirements breached. Support your answer from the facts in the question
How you would analyse and interpret data : Designing and planning a research project - research project planning and learn how to approach experimental design
How much will you have in five years : You can deposit it in a bank to earn 6 percent interest compounding yearly. How much will you have in five years
Prepare journal entry to record estimated uncollectibles : Teal Mountain Inc. had credit sales of $2,726,000, of which $366,200 remained uncollected at year-end. Prepare journal entry to record estimated uncollectibles

Reviews

Write a Review

Accounting Basics Questions & Answers

  Hendricks inc has an ending balance in retained earnings on

hendricks inc. has an ending balance in retained earnings on december 31 2010 or 567432. during 2010 it had declared

  Prepare any journal entries necessary to record the disposal

At December 31, 2015, the machine had a book value of $125,000, Prepare any journal entries necessary to record the disposal of the machine

  Prepare a journal entry for the purchase of a truck

Problem - Prepare a journal entry for the purchase of a truck on June 3 for $42,500, paying $8,500 cash and the remainder on account

  Create scenario where the transfer of property to controlled

Create scenario where the transfer of property to a controlled corporation under Section 351 of the Internal Revenue Code (IRC) results in taxation

  Explain should fiorello accept the special order

Problem - Special Order, Traditional Analysis - What is the profit normally earned on one production run of Refined Oil and Top Quality Oil

  Prepare journal entries for each of transactions described

Prepare journal entries for each of the transactions described. On January 15, Tundra Co. sold merchandise to customers for cash of $51,000

  If a company owns more than 20 of the stock of another

if a company owns more than 20 of the stock of another company and the stock is being held as a long-term investment

  How can Pierre Cardin mobilizes its resources for producing

Pierre Cardin inc. specialize in men shirt. Each shirt consumes 1m of fabric of 150,000VND, How can Pierre Cardin mobilizes its resources for producing

  Which contrasting assurance and non-assurance engagements

In comparing and contrasting assurance and non-assurance engagements, which of the following statements is true? Both assurance and non-assurance engagements

  What is the materials price variance

The company purchased 229,000 pounds of raw materials in January at a cost of 74¢ a pound. What is the materials price variance

  Prepare the journal entries to record these transactions

Prepare the journal entries to record these transactions on Allied Company's books using a periodic inventory system.

  Prepare the journal entries required under IFRS

Panthers Corp. purchased 8,000 shares of Canes Corp. for $100 per share on August 1, 2019. Prepare the journal entries required under IFRS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd