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Category > Management Posted 21 Jan 2018 My Price 8.00

Tolstoy Corporation

Sales Activity Variance

Refer to the data in Problem 16-43. Prepare a sales activity variance analysis for Tolstoy Corporation like the one in Exhibit 16.4.

Problem 16-43: Prepare Flexible Budget

The following information is provided concerning the operations of Tolstoy Corporation for the current period:

 

Actual (based on actual of 360 units)

Master Budget (based on budgeted 400 units)

Sales revenue

$ 55,200

$ 60,000

Less

 

 

Manufacturing costs Direct labor

8,520

9,000

Materials

7,200

8,400

Variable overhead

4,920

6,000

Marketing

3,180

3,600

Administrative

3,000

3,000

Total variable costs

$26,820

$30,000

Contribution margin

$28,380

$30,000

Fixed costs

 

 

Manufacturing

2,916

3,000

Marketing

6,240

6,000

Administrative

5,976

6,000

Total fixed costs

$15,132

$15,000

Operating profits

$13,248

$15,000

There are no inventories.

Required

Prepare a flexible budget for Tolstoy Corporation.

Exhibit 16.4 Flexible and Master Budget, August—Bayou Division

 

A

 

B

C

D

E

 

 

 

 

Flexible Budget

Sales Activity

 

Master Budget

 

 

 

 

(based on

Variance

 

(based on

 

 

 

 

actual activity

(based on

 

planned

 

 

 

 

of 80,000

variance in

 

activity of

 

1

 

 

units)

sales volume)

 

100,000 units)

 

2

Sales units

 

80,000

20,000

 

100,000

 

3

 

 

 

 

 

 

 

4

Sales revenue

 

$ 800,000

$ 200,000

U

$ 1,000,000

 

5

Less

 

 

 

 

 

 

6

Variable costs

 

 

 

 

 

 

7

Variable manufacturing costs

 

304,000

76,000

F

380,000

 

8

Variable selling and administrative

 

72,000

18,000

F

90,000

 

9

Total variable costs

 

$ 376,000

$

94,000

F

$

470,000

 

10

Contribution margin

 

$ 424,000

$ 106,000

U

$

530,000

 

11

Fixed costs

 

 

 

 

 

 

 

12

Fixed manufacturing overhead

 

200,000

–0–

 

 

200,000

 

13

Fixed selling and administrative costs

 

140,000

–0–

 

 

140,000

 

14

Total fixed costs

 

$ 340,000

–0–

 

$

340,000

 

15

Profit

 

$

84,000

$ 106,000

U

$

190,000

 

16

 

 

 

 

 

 

 

 

 
                     

 

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Jan 2018 10:01 PM My Price 8.00

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