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natita [175]
3 years ago
14

Kekiwi Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and

performance reports. During January, the company budgeted for 6,900 units, but its actual level of activity was 6,910 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for January: Data used in budgeting: Fixed Element per Month Variable element per unit Revenue - $ 39.30 Direct labor $ 0 $ 3.10 Direct materials 0 18.90 Manufacturing overhead 45,900 1.70 Selling and administrative expenses 27,000 0.30 Total expenses $ 72,900 $ 24.00 Actual results for January: Revenue $ 281,473 Direct labor $ 20,591 Direct materials $ 134,889 Manufacturing overhead $ 57,087 Selling and administrative expenses $ 28,063 The net operating income in the flexible budget for January would be closest to:_________
Business
1 answer:
masha68 [24]3 years ago
7 0

Answer:

Net operating income = $32,823

Explanation:

     Calculate of Net Operating Income in Flexible Budget

Particulars                                           Amount         Amount

Revenue (6910*$39.30)                                            $271,563

<u>Cost of goods sold</u>

Direct material (6910*$18.90)             $130,599  

Direct labor (6910*$3.10)                  $21421  

Manufacturing overhead                    <u>$57647</u>

(6910*$1.7+45900)

Total Cost of goods sold                                          <u>$209,667</u>

Gross profit                                                                $61,896

Selling and administrative expense                         <u>$29,073</u>

(6910*0.3+27000)

Net operating income                                              <u>$32,823</u>

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