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The President of Coopie Awards was analyzing the actual and budgeted results of operations for the current year (shown in the table below).
Coopie Awards Performance Report for Quarter Ending March 31
Flexible Budget per Unit
Actual Results (45,000 Units)
Master Budget
(50,000)
Variance
Sales
525.00
$1,125,000
$1,250,000
$125,000U
Less variable expenses:
Direct Materials
4.50
212,500
225,000
12,500F
Direct Labor
3.75
175,750
187,500
11,750F
Variable Factory OH
2.25
110,250
112,000
2,250F
Variable S & A Expense
1.50
70,500
75,000
4,500F
Total Variable Expense
$12.00
$569,000
$600,000
$31,000F
Contribution Margin
$13.00
$556,000
5650,000
$94,000U
Less Fixed Expenses:
Fixed Factory OH
$100,000
$85,000
5100,000
$5,000U
Fixed S & A Expense
150,000
160,000
10,000U
Total Fixed Expense
$250,000
$225,000
Income From Operations
$301,000
$400,000
599,000U
She noticed several favorable variances and, in a meeting, gave accolades to the production manager. She also noticed that the sales variance was unfavorable and spent considerable time questioning the sales vice president. She stated, "if production hadn't managed costs so well to cover for your lack of sales, we would have racked-up quite a large net loss for the year."
Do you agree with the president? Why or why not? Explain your point.
Where were costs in line and where were they out of line?
What could have been done to produce more favorable numbers?
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