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Jet001 [13]
3 years ago
14

1. Brodrick Company expects to produce 20,000 units for the year ending December 31. A flexible budget for 20,000 units of produ

ction reflects sales of $400,000; variable costs of $80,000; and fixed costs of $150,000. If the company instead expects to produce and sell 26,000 units for the year, calculate the expected level of income from operations.
2. Refer to information QS 1. Assume that actual sales for the year are $480,000, actual variable costs for the year are $112,000, and actual fixed costs for the year are $145,000 Prepare a flexible budget performance report for the year.
Business
1 answer:
siniylev [52]3 years ago
4 0

Answer:

Brodrick Company

1. The expected level of income from operations is:

= $266,000.

2. Flexible Budget Performance Report for the year

                                          Flexible        Actual         Variance

                                          Budget        Budget

Sales revenue               $480,000     $480,000       $0

Variable costs                   96,000         112,000      $16,000 U

Fixed costs                      150,000        145,000          5,000 F

Net operating income $234,000     $223,000       $11,000 U

Explanation:

a) Data and Calculations:

Expected production units = $20,000

Expected sales based on 20,000 units = $400,000 at $20 per unit

Variable costs = $80,000 at $4 per unit

Fixed costs = $150,000

Expected sales based on 26,000 units

Expected level of income from operations:

Sales revenue = $520,000 ($20 * 26,000)

Variable cost =      104,000 ($4 * 26,000)

Fixed cost =          150,000

Net income =    $266,000

Actual sales revenue for the year = $480,000 (24,000 * $20)

Actual variable costs =                          112,000 (24,000 * $4.67)

Actual fixed costs =                              145,000

Net operating income =                    $223,000

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