Prepare a flexible budget performance report

Assignment Help Cost Accounting
Reference no: EM13536666

Cimarron Company's fixed budget performance report for July follows. The $630,000 budgeted expenses include $588,000 variable expenses and $42,000 fixed expenses. Actual expenses include $54,000 fixed expenses. Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately.

 

Fixed Budget

Actual Results

Variances

Sales (in units)

8,400

10,800

 

Sales (in dollars)

$840,000

$1,080,000

$240,000 F

Total expenses

630,000

756,000

126,000 U

Income from operations

$210,000

$ 324,000

$114,000 F

Reference no: EM13536666

Questions Cloud

Distinguish between direct and indirect labor cost : Distinguish between ‘Direct' and ‘Indirect' labor cost and what do you understand by ‘labor turnover'? What are the causes for the same? How will you prevent labor turnover in your organization?
Each of the sources in the drawing emits a frequency : Each of the sources in the drawing emits a frequency of 4.57 multiplied by 1014 Hz, and the speed v is 2.50 106 m/s. Calculate the observed frequency fo in situation A. fo = ? UNIT?
Compute sales price variance and sales volume variance : Also assume the budgeted sales price for each car was $30,000, and the actual sales price for each car was $30,200. Compute the sales price variance and the sales volume variance.
What is the area of contact between each tire and the ground : A person who weighs 635 N is riding a 98 N mountain bike. Suppose the entire weight of the rider and bike is supported equally by the two tires. If the gauge pressure in each tire is 7.25 105 Pa, what is the area of contact between each tire and the ..
Prepare a flexible budget performance report : Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately.
Find the speeders speed with respect to the ground : A speeder is pulling directly away and increasing his distance from a police car that is moving at 23 m/s with respect to the ground. The radar gun in the police car emits an electromagnetic wave with a frequency of 7.00 109 Hz.
Compute trend percents for all components : Compute trend percents for all components of both statements using 2006 as the base year and analyze and comment on the financial statements and trend percents from part 1.
How much energy was lost as heat and vibration : A 1020 kg car moving 40.0 m/s rear ends a 560 kg car at stop. When they collide, the bumpers lock and they move together. how much energy was lost as heat and vibration
What is the image distance-is the image real or virtual : converging lens has a focal length of 86.50 cm. A 14.0 cm tall object is located 135.0 cm in front of this lens. What is the image distance? Is the image real or virtual?

Reviews

Write a Review

Cost Accounting Questions & Answers

  Determine the amount of net income anwar should report

Determine the amount of net income Anwar should report on the 2010 income statement and the amount of cash flow from operating activities Anwar should report on the 2010 statement of cash flows.

  How to be managing cash needs

Establishing a department whose responsibility is to approve customer's credit.

  Operating income is higher under variable or absorption cost

The masks sell for $17.00. Budgeted fixed manufacturing overhead for the most recent year was $396,000. Actual production was equal to planned production. Required: Under each of the following conditions, state (a) whether operating income is ..

  In which fund should this asset be reported

A citizen of the City of Townsend gives it a gift of $22,000 in investments. The citizen requires that the investments be held but any resulting income must be used to help maintain the city's cemetery. In which fund should this asset be reported?

  Critically explain cost accounting as

critically explain cost accounting as 1. a service activity 2. a descriptive/analytical discipline 3. an information system

  Question related to strategies for managing risk

Strategies for managing risk - Evaluate what is a strategy for managing risk and what are some potential future risks?

  Conwell company manufactures its product vitadrink through

conwell company manufactures its product vitadrink through two manufacturing processes mixing and packaging. all

  Question 1 perform the acl tests hand in a report

question 1 perform the acl tests. hand in a report illustrating the audit tests and your conclusions about the results

  Safety seats co recorded operating data for its shoe

safety seats co. recorded operating data for its shoe division for the year. the companys desired roi is

  What the company net income

In the case of recording an expense for financial gain on my part, this would violate the principle of neutrality. It also would violate the principle of validity.

  Evaluate the present value of the minimum lease payments

What type of lease is this? Explain. Evaluate the present value of the minimum lease payments. Prepare all necessary journal entries for Burke for this lease through January 1, 2008.

  Dq 01explain how full-absorption costing can be abused by

dq 01explain how full-absorption costing can be abused by management to misstate financial results.dq 02explain how cvp

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