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Ede4ka [16]
3 years ago
14

Business solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. the $159

,520 budgeted expenses include $104,720 in variable expenses for desks and $20,800 in variable expenses for chairs, as well as $34,000 fixed expenses. the actual expenses include $35,800 fixed expenses. list fixed and variable expenses separately.
Business
1 answer:
xeze [42]3 years ago
4 0

Answer:

Business Solutions

Second-quarter 2018

Fixed Budget Performance Report

                                                  Budgeted              Actual

Variable expenses for desks $104,720              $104,720*

Variable expenses for chairs,   $20,800             $20,800*

<u>Fixed expenses                       $34,000                $35,800</u>

<u>Total  Expenses                      $159,520               $ 156,320 </u>

*Suppose the actual variable expenses are the same as budgeted variable expenses.

Explanation:

The variable expenses depend on the number of units of chairs and desks produced where as the fixed expenses remain constant irrespective of the no of units of production.

Variable expenses are those expenses that vary directly with the number of units produced ( example more desks and more chairs will require more material).

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Answer:

d. $1,500 and its economic profits are $1,300.

Explanation:

The computation is shown below

For accounting profit, it is

= Total revenue - Explicit cost

where,

Total revenue is = 8 units × $300 per unit = $2,400

And, the explicit cost is $ 900

So, the accounting profit is

= $2,400 - $900

= $1,500

And, the economic profit is

= Total Revenue - explicit cost  - implicit cost

= $2,400 - $900 - $200

= $1,300

Simply applied the above formulas so that the both profits could arrive

5 0
3 years ago
cgehhE10-12 The following are selected 2014 transactions of Pedigo Corporation. Jan. 1 Purchased a small company and recorded go
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3 years ago
Multiple-Product Break-even, Break-Even Sales Revenue Cherry Blossom Products Inc. produces and sells yoga-training products: ho
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Answer:

Answer 1.

DVD Equipment Set Yoga Mat

Sale in Units 13500 4500 9000

Sale Mix 3 1 2

Sales Mix Ratio = 3:1:2

Answer 2.

Let the Break Even Sales = X Units

Therefore, Linear equation of BEP:

3/6 X (8-4) + 1/6 X (25-15) + 2/6 X (16-9) = 119520 (Fixed Costs)

X = 19920 Units

BEP of

DVD = 19,920 Units X 3/6 = 9960 Units

Equipment Set = 19,920 Units X 1/6 = 3320 Units

Yoga Mat = 19920 Units X 2/6 = 6640 Units

Answer 3.

DVD Equipment Set Yoga Mat Total

Sale in Units 13,500 4,500 9,000 27,000

SP 8 25 16

Sales in $ 108,000 112,500 144,000 364,500

Less: Variable Costs 54,000 67,500 81,000 202,500

Contribution 54,000 45,000 63,000 162,000

Contribution Margin Ratio 50.00% 40.00% 43.75% 44.44%

Contribution Margin Ratio = Contribution / Sales

Overall Break Even Sales Revenue = $119520 (Fixed Costs) / 44.44% (Contribution Margin Ratio)

Overall Break Even Sales Revenue = $268,920

Answer 4.

Margin of Safety = Sales - BES

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3 years ago
Below are the transactions for Ute Sewing Shop for March, the first month of operations.
balandron [24]

Answer:

Explanation:

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Cash  1700

    Share Capital 1700

To record the issuance of shares

March 3

Equipment 1400

  Cash           1400

To record the purchase of equipment on cash

March 5

Rent Expense 470

    Cash               470

To record the rent expense

March 7

No entry neither cash nor serves are provided.

March 12

Purchase 117

  Cash           117

To record the purchases

March 15

Cash 670

 Income 670

To record the services Income.

March 19

Advance 570

     Payable   570

To record the advance cash receipt for services not yet provided thus advance is our liability.

March 25

Payable 228    570/25*10

   Income    228

To record the services income against advance given.

March 30

Utilities Expense   82

    Cash                      82

To record the monthly utilities expense

March 31

Dividend Pay  85

       Cash              85  

To record the payment of dividend.

2)

                                <u>Share Capital Account</u>

                                                 Opening =    0

                                                   Cash          1700

          <u>Closing=1700</u>                 <u>                            </u>

 

                                     <u>Cash  Account</u>

Opening = 0

share capital   1700                              Equipment          1400

                                                               Rent                   470

                                                                Purchase           117

Income             670

Adv. Pay           570

                                                                  Utilities             82

                                                                   Dividend          85

                                                                   <u>Closing balance- 786</u>    

     

                                       <u>Equipment</u>

Opening = 0

Cash           1400

                                                             <u>Closing-1400</u>

                                       <u>Rent Expense</u>

Opening = 0

Cash           470

                                                             <u>Closing-470</u>

                                       <u>Purchase Expense</u>

Opening = 0

Cash           117

                                                             <u>Closing-117</u>

                                <u>Income Account</u>

                                                 Opening =    0

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                                                    Payable     228

      <u>Closing- 898</u>                                           <u>                            </u>

                                <u>Payable Account</u>

                                                             Opening =    0

                                                             Cash          570

Income 282

<u>Closing-342</u>                                           <u>                            </u>

                                       <u>Utilities Expense</u>

Opening = 0

Cash           82

                                                             <u>Closing-82</u>

                                   <u>Dividend</u>

Opening = 0

Cash           85

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     Head Of Account                           Debit                    Credir

Cash                                   786  

Share Capital                                           1700

Equipment                           1400  

Rent Expense                                                   470  

Purchases                            117  

Income                                                           898

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Utilities                                     82  

Dividend                                            85  

Total                                   2940                 2940

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