Complete the following table by filling in the unknown quantities and U/F design
ID: 2415083 • Letter: C
Question
Complete the following table by filling in the unknown quantities and U/F designations for variances.
Actual
Results
Flexible
Budget
Variance
Flexible
Budget
Sales
Volume
Variance
Master
Budget
Units
1,000
100 F
Sales revenues
$288,000
Variable costs
3,000 F
Contribution margin
120,000
Fixed costs
82,000
2,000 U
Operating income
$ 37,000
No computations necessary for this problem.
Actual
Results
Flexible
Budget
Variance
Flexible
Budget
Sales
Volume
Variance
Master
Budget
Units
1,000
100 F
Sales revenues
$288,000
Variable costs
3,000 F
Contribution margin
120,000
Fixed costs
82,000
2,000 U
Operating income
$ 37,000
Explanation / Answer
Actual Flexible Flexible Sales Master Results Budget Budget Volume Budget Variance Variance Units 1,000 0 1000 100 F 900 Sales revenues 316000 4000 U 320000 32000 F $ 288,000 Variable costs 197,000 3,000 F 200000 20000 U 180000 Contribution margin 119,000 1000 U 120,000 12000 F 108000 Fixed costs 82,000 2,000 U 80000 0 80000 Operating income $ 37,000 3000 U 40000 12000 F 28000