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1. How would a coffee shop use labor and materials variance information?
2. Kyle's Products estimates the following selling expenses next period:
Salaries (fixed)
$ 30,000
Commissions (0.5%of sales revenue)
17,875
Travel (0.03% of sales revenue)
10,725
Advertising (fixed)
60,000
Sales Office Costs ($3,750 plus $0.05 per unit sold)
7,000
Shipping Costs ($0.10 per unit sold)
6,500
Total Selling Expenses
132,100
Derive the cost equation (y = a + bx) for selling expenses. (Hint: y = a + bx + cy.)
Assume that Kyle's actually sells 50,000 units during the period at an average price of $6 per unit. The company had budgeted sales for the period to be: volume, 65,000 units; price, $5.50. Calculate the sale price and volume variance.
The actual selling expenses incurred during the period were $80,000 fixed and $30,000 variable. Prepare a profit variance analysis for sales revenue and selling expenses.
3. The Rockland Candy Company presentas the following data for October:
Standards per Batch
Actual Total
Materials
1 pound at $2.50 per pound
49,000 Pounds
Labor
1.5 Hours at $3.00 per Hour
70,000 Hours
Batches Produced
48,000 Batches
During the month, the firm purchased 49,000 pounds of materials for $127,500. Wages earned were $214,000. Compute the labor and material variances.
Investments in Short-Term Government Securities
A company recorded sales of $160,000 during march. management expects sales to increase 5% in april, 3% in may, adn 5% in june. cost of goods sold is expected to be 70% of sales. What is the budgeted gross profit for june?
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Deana Moran is the owner of First Delivery Service. Recently, Deana paid interest of $3,600 on a personal loan of $60,000 that she used to begin the business. Should First Delivery Service record the interest payment? Explain.
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