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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 17 Jan 2018 My Price 9.00

Realtors, Inc

Flexible Budgets and Performance evaluation

P6. Realtors, Inc., specializes in the sale of residential properties. It earns its revenue by charging a percentage of the sales price. Commissions for sales persons, listing agents, and listing companies are its main costs. Business has improved steadily over the last 10 years. The managing partner of Realtors, Inc., receives a report summarizing the company’s performance each year. The report for the most recent year follows.

 

Realtors, Inc.

 

Performance Report

 

For the year ended December 31

 

 

 

 

 

Total selling fees

 

Budget*

$2,052,000

 

 

Actual**

$2,242,200

Difference Under (over) Budgeted

$(190,200)

Variable costs:

 

 

 

 

Sales commissions

$1,102,950

 

$1,205,183

$(102,233)

Automobile

36,000

 

39,560

(3,560)

Advertising

93,600

 

103,450

(9,850)

Home repairs

77,400

 

89,240

(11,840)

General overhead

656,100

 

716,970

(60,870)

Total variable costs Fixed costs:

$1,966,050

 

$2,154,403

$(188,353)

General overhead

60,000

 

62,300

 

(2,300)

 

 

Total costs

$2,026,050

 

$2,216,703

 

$(190,653)

 

 

Operating income

$     25,950

 

$     25,497

 

$        453

 

 

 

 

 

 

 

 

*Budgeted data are based on 180 units sold.

 

**Actual data for 200 units sold.

 

 

 

 

(Continued)

 

 

 

 

 

 

 

 

 

 

 

ReQUIReD

 

1.    aCCounting ConneCtion ▶ Analyze the performance report. What does it say about the company’s performance? Is the performance report reliable? Explain your answer.

 

2.    Calculate the budgeted selling fee and budgeted variable costs per home sale.

 

3.    Prepare a performance report using a flexible budget based on the actual number of home sales.

 

4.    aCCounting ConneCtion ▶ Analyze the report you prepared in requirement 3. What does it say about the company’s performance? Is the report reliable? Explain your answer.

 

5.    aCCounting ConneCtion ▶ What recommendations would you make to improve the company’s performance next year?

 

 

 

 


Answers

Maurice Tutor
(5)
Status NEW Posted 17 Jan 2018 10:01 PM My Price 9.00

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