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lapo4ka [179]
3 years ago
7

The sales volume variance is the difference between the? ________.

Business
1 answer:
Olenka [21]3 years ago
4 0
The sale volume variance is the difference between the flexible budget at actual output and the corresponding static budget amount. The flexible budget is the budget developed at the end of a period while the static budget is the master budget. A variance is the difference between the actual results and the budgeted amount. Sale variance volume is usually due to inaccurate forescasting of units of products that will be sold. <span />
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Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-st
eduard

Answer:

<u>Part a</u>

Blossom Company

Income statement for the year 2014 - multiple-step form

                                                                                                            $000

Sales revenue                                                                                   97,088

Less Cost of goods sold                                                                   (61,158)

Gross Profit                                                                                        35,930

Less Operating Expenses :

<u>Administrative expense</u>

Officers' salaries                                                           5,488

Depreciation of office furniture and equipment         4,548         (10,036)

<u>Selling expense :</u>

Delivery expense                                                         3,278

Sales commissions                                                      8,568

Depreciation of sales equipment                               7,068          (18,914)

Operating Income (Loss)                                                                  6,980

Less Non Operating Expenses :

Income tax                                                                     9,658

Interest expense                                                            2,448      (12,106)

Net Income (Loss)                                                                            (5,126)

<u>Part b</u>

Blossom Company

Income statement for the year 2014 - single-step form

                                                                                                            $000

Sales revenue                                                                                   97,088

Less Cost of goods sold                                                                   (61,158)

Gross Profit                                                                                        35,930

Less Expenses :

Officers' salaries                                                          5,488

Depreciation of office furniture and equipment        4,548        

Delivery expense                                                         3,278

Sales commissions                                                      8,568

Depreciation of sales equipment                               7,068        

Income tax                                                                    9,658

Interest expense                                                          2,448         (41,056)

Net Income (Loss)                                                                             (5,126)

Explanation:

The multiple-step form shows the Operating Income and Net Income separately by grouping expenses as either operating and non-operating expenses.

The single-step form shows all expenses under one category and no grouping of expenses as either operating or non-operating.

4 0
3 years ago
Preparation of a statement of cash flows involves five steps:
adelina 88 [10]

Answer:

Preparation of a statement of cash flows involves five steps

1. Compute net cash provided or used by operating activities.

This is the section where all the cash flow that belongs to the operating section are been added and subtracted according to the inflow and outflow of the transaction.

2. Compute net cash provided or used by investing activities.

This is the section where all the cash flow that belongs to the investing section are been added and subtracted according to the inflow and outflow of the transaction.

3. Compute net cash provided or used by financing activities.

This is the section where all the cash flow that belongs to the financing section are been added and subtracted according to the inflow and outflow of the transaction.

4. Compute the net increase or decrease in cash

This is the section where the cash-flow from operating, investing and financing activities is  been balanced.

5. Report the beginning and ending cash balances and prove that the ending cash balance is explained by net cash flows.

After the cash-flow from operating, investing and financing activities is  been calculated, Then, this section is also computed to derive the Closing/Ending cash balance

4 0
3 years ago
Power Inc. has two divisions, Windsor and Ridge. Following is the income statement for the past month: Windsor Ridge Total Sales
Morgarella [4.7K]

Answer:

- $ 80,000

Explanation:

The existing Power's profit margin is $0 ($41,700 - $41,700 + $0).

<u>Dropping Windsor division has the following effect :</u>

Increase in cost - opportunity cost of $ 80,000

<em>The opportunity is due to lost contribution </em>

Fixed costs are unavoidable thus, they are irrelevant when doing this calculation.

thus,

Power's profit margin will be - $ 80,000 if the Windsor division was dropped.

8 0
3 years ago
Wanna date please ladys
Nina [5.8K]

Answer:

?????

Explanation:

gwuqiksldmfnchdjeks,xmcnfhjrdeks,m

3 0
3 years ago
Read 3 more answers
) Using the following information, what is the amount of cost of merchandise sold?
Orlov [11]

Answer:

C. 30,210

Explanation:

Cost of merchandise sold = cost of merchandise purchase - cost of merchandise left in inventory

= Purchases  of $32,000 - Purchases discounts  of $960 - Purchases returns and allowances  of $1,200 + Freight In  of $1,040

- ( Merchandise inventory  at  September 30  of $6,370 - Merchandise inventory September 1  of $5,700)

= 32,000- 960- 1,200+1,040 - 670 = 30,210

5 0
3 years ago
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