answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MAVERICK [17]
1 year ago
8

Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $270,000. During June

, the company produced and sold 10,800 units and incurred actual variable costs of $351,000 and actual fixed costs of $285,000. Actual sales for June were $885,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance)
Business
1 answer:
nika2105 [10]1 year ago
8 0

Answer and Explanation:

The preparation of flexible budget report is shown below:-

                                              Xion CO.

                                   Flexible budget report

                   Flexible budget    Actual results   Variances  Favorable/

                                                                                           Unfavorable

Sales             $864,000              $885,000        $21,000    Favorable

                   (10,800 × $80)

(-) Variable

cost            $378,000               $351,000          $27,000   Favorable

                    (10,800 × $35)

Contribution  $486,000             $534,000         $48,000   Favorable

(-) Fixed cost   $270,000            $285,000         $15,000   Unfavorable

Net income    $216,000              $249,000           $33,000  Favorable

You might be interested in
A population gathers plants and animals for survival. They need at least 360 units of​ energy, 300 units of​ protein, and 8 hide
stellarik [79]

Answer:

0 units of plants and 18 animals.

Explanation:

From the information provided, we know that this population must hunt at least 8 animals, to obtain the hides necessary to survive. When hunting such a quantity of animals, they would also obtain 160 units of energy and 200 units of protein. In terms of costs, this equals 80 hours of labor.

How can the population obtain the additional 200 units of energy and 100 of protein they need to live? They have two options: gather plants or keep hunting animals, of course, respecting the available quantities.

In the former case, at least 10 units of a plant would have to be gathered, this is the only way to obtain the additional units of energy and protein they are looking for. With 8 animals and 10 units of plants, they would have 460 units of energy, 300 of protein and 8 hides, and would have to invest 280 hours of labor.

If the population decided to reduce labor by gathering fewer plants (which is the activity that requires more time) but hunting the same amount of animals, it would obtain 430 units of energy, 290 units of protein and 8 hides. That means that it would not survive because it would not meet the requirement of 300 proteins.

Therefore, the only way to reduce hours of labor without risking survival would be gathering fewer plants but hunting more animals. Following this logic, the optimal amount would be 18 animals and 0 units of plants, as this would allow people to obtain the necessary resources to survive at the minimum cost in terms of labor. Furthermore, it would fit the physical limit of 27 units of plants and 23 animals. This combination would allow to obtain 360 units of energy, 450 of protein and 18 hides by investing only 180 hours of labor.

The attached image shows what happens when the quantity of animals is increased and that of plants is decreased until reaching the optimal combination of 18 animals and no units of plants.

4 0
1 year ago
Golden Manufacturing Company started operations by acquiring $150,000 cash from the issue of common stock. On January 1, Year 1,
NISA [10]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

8 0
1 year ago
Breeze Inc. receives payment of $800,000 for 4 wind turbines that were delivered and invoiced on credit in the previous month. H
just olya [345]

Answer:

No impact on accounting equation of Breeze Inc.

Explanation:

Account equation: Asset = Liabilities + Shareholders' equity

Upon delivery and invoicing of the 4 wind turbines, the Breeze Inc. had recognized following journal entry:

An asset is recorded

Accounts receivable (Debit)

Sales (Credit)

Upon receipt of cash, accounts receivable is credited and cash is credited e.g. there is no impact on total assets, therefore there is no impact on accounting equation.

3 0
2 years ago
Laurasia has identified the following goods as its market basket. Here are the prices of those goods over three years.
Zielflug [23.3K]

Answer:

  • 2015 = $94
  • 2016 = $128.50
  • 2017 = $115

Explanation:

A Market Basket is used to calculate inflation overtime by tracking the change in prices of a specific and permanent number of goods and services.

The formula for calculating the market basket is;

Cost of Market Basket_{year} = ∑(Price of good * Basket Quantity of good)

2015

Cost of Market Basket = (25 * 0.4) + (2 * 18) + ( 4 * 12)

Cost of Market Basket = 10 + 36 + 48

Cost of Market Basket = $94

2016

Cost of Market Basket = (25 * 0.5) + (2 * 22) + ( 4 * 18)

Cost of Market Basket = 12.5 + 44 + 72

Cost of Market Basket = $128.50

2017

Cost of Market Basket = (25 * 0.6) + (2 * 20) + ( 4 * 15)

Cost of Market Basket = 15 + 40 + 60

Cost of Market Basket = $115

6 0
1 year ago
Z-Mart purchased $3,000 worth of merchandise on credit. Transportation costs were an additional $100, paid cash to the cartage c
Len [333]

Answer:

Z-Mart purchased $3,000 worth of merchandise on credit. Transportation costs were an additional $100, paid cash to the cartage company on delivery. Z-Mart returned $300 worth of merchandise and paid the invoice on time, and took a 2% purchase discount. The amount of this payment was <u>$2744</u>

Explanation:

Purchases excluding freight  $3,000

Less:Goods returned           -$300

Add:freight charges           $100

Net Purchases                 $2,800

Less:Discount on payment($2,800*2%)  -$56

Net cash paid                         $2,844

 

6 0
1 year ago
Other questions:
  • Handling inventory materials and parts, and supervising the shipping process belongs to the ______ career pathway.
    9·2 answers
  • Outline are effective because they?
    7·1 answer
  • At a price of $13, quantity demanded is ________, quantity supplied is ________ ; therefore excess ________ has occurred.
    7·1 answer
  • First he was all about innovation. next it was efficiency. now​ snyder's strategy is customer responsiveness. these changes in s
    13·1 answer
  • The Blue Utilities Company paid Sue $2,000 for the right to lay an underground electric cable across her property anytime in the
    7·1 answer
  • Kathy wants to buy a condominium selling for ​$95 comma 000. The taxes on the property are ​$1500 per​ year, and​ homeowners' in
    14·1 answer
  • To produce espressos, a coffee shop has fixed costs of 200 dollars each day and variable costs of one dollar per espresso. The n
    6·1 answer
  • In a transaction that qualifies under Section 351, Buster transfers an asset with a basis of $50,000 and a fair market value of
    12·2 answers
  • Melissa is a staff accountant for Quality Paper Company, which has strict corporate policies on appropriate use of corporate res
    15·1 answer
  • The new policy states all employees will receive ________ paychecks through the online portal. Multiple Choice
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!