# Quiz 22 wrong - 2008 sales were 72,000 units at \$14 per unit Actual variable costs budgeted at \$4 per unit totaled \$4.75 per unit Budgeted fixed

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- The correct answer has been circled. \$41,000 unfavorable \$24,000 unfavorable \$24,000 favorable \$65,000 unfavorable Actual Cost Budgeted Cost Sales 72000 75000 cost/unit 14 12 Variable Costs 4.75 4 Fixed Costs 400000 375000 Income Statement Performance Report Actual Flexible Flexible Budget Sales Static Results at Budget for Actual # of Volume (Master) Actual Prices Variance Output Units Variance Budget Output units 72,000 0 72,000 (3,000) U 75,000 Sales revenue 1,008,000 144,000 F 864,000 (36,000) U 900,000 Variable Costs 342,000 54,000 U 288,000 (12,000) F 300,000 Fixed Costs 400,000 25,000 U 375,000 0 U 375,000 Total Costs 742,000 79,000 U 663,000 (12,000) F 675,000 Operating income 266,000 65,000 F 201,000 (24,000) U 225,000 Flexible Budget Variance, Sales Volume Variance 65,000 F (24,000) U Static Budget Variance 41,000 U - The correct answer has been circled. \$1,500 unfavorable \$1,500 favorable \$1,600 favorable \$1,600 unfavorable 4431756 Question: Western Outfitters Mountain Sports projected 2008 sales of 75,000 units at a unit sale price of \$12. Actual

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Unformatted text preview: 2008 sales were 72,000 units at \$14 per unit. Actual variable costs, budgeted at \$4 per unit, totaled \$4.75 per unit. Budgeted fixed costs totaled \$375,000 while actual fixed costs amounted to \$400,000. What is the sales volume variance for operating income? 4431765 Question: Quick Tax Returns budgets 1.5 direct labor hours for every tax return that it prepares, at a standard cost of \$20 year, 500 returns were completed with the labor cost totaling \$17,600. The actual labor cost was \$22 per hour during tha price variance? Actual Cost 22.00 / hour = (AQ*AP)-(AQ*SP) Standard Cost 20.00/hour = (800*22)-(800*20) 500 completed = 1600 budgeted 1.5 hours / return and because actual price is greater than standard Total Costs 17600 800 total hours 0 an hour. During the most recent at period. What was the direct labor d price the variance is unfavorable...
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## This note was uploaded on 09/11/2011 for the course TERM 1 taught by Professor Smith during the Spring '11 term at FIT.

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Quiz 22 wrong - 2008 sales were 72,000 units at \$14 per unit Actual variable costs budgeted at \$4 per unit totaled \$4.75 per unit Budgeted fixed

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