Folsom fashions sells a line of womens dresses folsoms

Assignment Help Accounting Basics

Reference no: EM13568979

Folsom Fashions sells a line of women's dresses. Folsom's performance report for November is shown below. The company uses a flexible budget to analyze its performance and to measure the effect on operating income of the various factors affecting the difference between budgeted and actual operating income.

	Actual	Budget
Dresses sold	5,000	6,000
Sales	$235,000	$300,000
Variable costs	($145,000)	($180,000)
Contribution margin	$90,000	$120,000
Fixed costs	($84,000)	($80,000)
Operating income	$6,000	$40,000

1. The effect of the sales quantity variance on the contribution margin for November is:

$30000 U , $18000 U, $20000 U , $15000 U

2. The sales price variance for November is:

$30000 U , $18000 U , $20000 U , $15000 U

Reference no: EM13568979

Questions Cloud

Prepare a reconciliation from net income to cash : the accounting records of jefferson industries provided the data below.net income78000depreciation21000decrease in

A retail clothing company began operations in 2014 with : a retail clothing company began operations in 2014 with assets of 43800. the following additional data have been taken

On january 1 2012 equipment costing 1344000 is purchased it : the following information has been obtained for the gocker corporation.1. prior to 2012 taxable income and pretax

Assume that in month 6 the move time process time and so : inverness corporation has recently begun a continuous improvement campaign. as a consequence there have been many

Folsom fashions sells a line of womens dresses folsoms : folsom fashions sells a line of womens dresses. folsoms performance report for november is shown below. the company

Remington shipping inc is contemplating the use of process : remington shipping inc. is contemplating the use of process costing to track the costs of its operations. the operation

Diane ross has 20000 to invest today at 9 to pay a debt of : diane ross has 20000 to invest today at 9 to pay a debt of 47347. how many years will it take her to accumulate enough

Remington shipping wants to begin using process costing in : 1. remington shipping inc. is contemplating the use of process costing to track the costs of its operations. the

A plant asset purchased for 300000 at the beginning of the : 1.a plant asset purchased for 250000 has an estimated life of 10 years and a residual value of 20000. depreciation for

User Account

All Pages