This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Chillcott Manufacturing produces ceiling fans. A master budget was prepared by the controller based ... (Read 32 times)

dusk108

  • Full Member
  • ***
  • Posts: 152
on: Feb 5, 2023
Chillcott Manufacturing produces ceiling fans. A master budget was prepared by the controller based on sales of 19,500 fans for the month of May. The budgeted income statement for the period follows:

Budgeted Income Statement
Revenue​$3,120,000
Variable expenses​​
Direct materials$877,500​
Direct labor390,000​
Variable overhead585,000​
Total variable expenses​1,852,500
Contribution margin​1,267,500
Fixed overhead325,000​
Fixed selling and administrative expenses650,000​
Total fixed expenses​    975,000
Operating income​$   292,500

During May, Chillcott produced and sold 23,400 fans and had the following actual results:

Actual Income Statement
Revenue​$3,731,000
Variable expenses​​
Direct materials$1,037,400​
Direct labor487,500​
Variable overhead   715,000​
Total variable expenses​2,239,900
Contribution margin​1,491,100
Fixed overhead351,000​
Fixed selling and administrative expenses 650,000​
Total fixed expenses​1,001,000
Operating income​$   490,100

Required:

a.Prepare a flexible budget for May.
b.Calculate Chillcott's static budget variance for May.
c.Will the static budget variance that you calculated in part (b) be useful to
management?
Why or why not?
d.Based on the available information, prepare a performance report for management.
e.Comment on the results of your report.
Managerial Accounting ¦ Davis ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by dusk108 on Feb 5, 2023

marufp

  • Full Member
  • ***
  • Posts: 169
Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 35% of students answer this correctly


dusk108

  • Member
  • Posts: 152
Reply 2 on: Feb 5, 2023
Excellent

shewald78

  • Member
  • Posts: 340
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Formation of additional eyes in Drosophila caused by the abnormal expression of a master control gen Formation of additional eyes in Drosophila caused by the abnormal expression of a master control gen
Faulty outlooping produces lambda phage containing bacterial DNA Faulty outlooping produces lambda phage containing bacterial DNA
Primary School Attendance in World Regions Attending primary school is common but not universal, wo Primary School Attendance in World Regions Attending primary school is common but not universal, wo
A Hall-effect sensor produces a digital on-off voltage signal whether it is used with a blade or a ... A Hall-effect sensor produces a digital on-off voltage signal whether it is used with a blade or a ...
When the O2S voltage rises above 450 mV, the PCM starts to control the fuel mixture based on ... When the O2S voltage rises above 450 mV, the PCM starts to control the fuel mixture based on ...
The identification of clades based on morphological characters The identification of clades based on morphological characters
Video: Aneurysm

For a complete list of videos, visit our video library