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Fed [463]
3 years ago
7

Folsom Fashions sells a line of women's dresses. Folsom's performance report for November Year 1 follows.Actual : Dresses Sold:

5000, Sales 235,000, variable cost is 145,000 contribution margin is 90,000, fix cost is 84,000 and operating income is 6,000Budget: Dresses Sold: 6000, Sales 300,000, variable costs: 180000, contribution margin is 120,000, fixed costs is 80000, and operating income is 40,000The company uses a flexible budget to analyze its performance and to measure the effect on operating income of the various factors affecting the difference between budgeted and actual operating income.The variable cost flexible budget variance for November is:(A) $4,000 unfavorable.(B) $5,000 favorable.(C) $5,000 unfavorable.(D) $4,000 favorable.
Business
1 answer:
ElenaW [278]3 years ago
4 0

Answer:

(B) $5,000 favorable.

Explanation:

Variable cost flexible budget variance:

budget for 6,000 units total variable cost: $180,000

We divide the total cost by the activity in that budget:

$180,000/ 6,000 = 30

Now we multiply by the actual volume:

5,000 x 30 = 150,000

Now we do flexible budget - actual cost = variance

150,000 - 145,000 = 5,000 favorable

It is favorable, as the cost where less than expected.

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