Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Assume that in June Schmidt Machinery Company manufactured and sold 960 units for $846 each. During this month the company incurred $499,200 total variable expenses and $181,100 total fixed expenses.Required for the Month of June: SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2016
(1) Actual Operating Income
(2) Master (Static? Budget
(3? Variances
Units
780
1,000
2201J*
Sales
$639,600
100%
$800,000
$160,400U
Variable costs
350,950
55
450,000
56
99,0504*
Contribution margin
$288,650
45%
$350,000
44%
$ 61,350U
Fixed costs
160,650***
25
150,0001
19
10,650U
Operating income
$128,000
20%
$200,000
25%
S 72,000U
Question 1. What is the flexible budget for the production and sale of 960 units?
Units sold
Variable expenses
I
0
Fixed expenses
Budgeted operating income
Question 2.For June:
a. What is the sales volume variance, in terms of operating income?
b. What is the sales volume variance, in terms of contribution margin?
c. How do you calculate for June the following information?
Review an annual report of a popular company ie. Target, Kohl's Bass Pro shops, and answer the following questions with references:
Does a non-controlling shareholder have access to any information other than the consolidated financial statements to determine how well the subsidiary is doing?
describe your top-three fears in competing in the global market, and how you plan to overcome those fears
What are some possible objections to this practice as a means of obtaining job applicants
during the year chester had the following transactions involving capital assets gain on the sale of an arrowhead
She will continue to show this generosity for 20 years, giving a total of 20 payments. If the interest rate is 5%, what is her promise worth today?
If sales on account are budgeted to be $320,000 for June and $350,000 for July, what are the budgeted cash receipts from sales on account for July?
Describe some factors in detail related to creating a culture of honesty within the golf course operation, starting at the beginning
Imagine you are a consultant hired to convert a manual accounting system to an automated system.
Uncorrected Misstatement and Performance Materiality. Rivers, CPA is auditing the financial statements of Charger Company, a client for the past five years. During past audits of charger, River has only identified some immaterial misstatements (mo..
Government-wide financial statements include a :
Leah Company's equipment account increased $400,000 during the period; the related accumulated depreciation increased $30,000. New equipment was purchased at a cost of $700,000 and used equipment was sold at a loss of $20,000. Depreciation expense wa..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd