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The following information is provided concerning the operations of Tolstoy Corporation for the current period: |
| Â | Actual (based on actual of 360 units) |
Master Budget (based on budgeted 400 units) |
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| Sales revenue | $ | 55,200 | Â | $ | 60,000 | Â |
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| Less | Â | Â | Â | Â | Â | Â |
| Manufacturing costs | Â | Â | Â | Â | Â | Â |
| Direct labor | Â | 8,520 | Â | Â | 9,000 | Â |
| Materials | Â | 7,200 | Â | Â | 8,400 | Â |
| Variable overhead | Â | 4,920 | Â | Â | 6,000 | Â |
| Marketing | Â | 3,180 | Â | Â | 3,600 | Â |
| Administrative | Â | 3,000 | Â | Â | 3,000 | Â |
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| Total variable costs | $ | 26,820 | Â | $ | 30,000 | Â |
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| Contribution margin | $ | 28,380 | Â | $ | 30,000 | Â |
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| Fixed costs | Â | Â | Â | Â | Â | Â |
| Manufacturing | Â | 2,916 | Â | Â | 3,000 | Â |
| Marketing | Â | 6,240 | Â | Â | 6,000 | Â |
| Administrative | Â | 5,976 | Â | Â | 6,000 | Â |
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| Total fixed costs | $ | 15,132 | Â | $ | 15,000 | Â |
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| Operating profits | $ | 13,248 | Â | $ | 15,000 | Â |
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