Copy s-% , ., conditional Format as BIu Number C D E F JKLM N O P QR S Performan

Question

Copy s-% , ., conditional Format as BIu Number C D E F JKLM N O P QR S Performance Report For the Year Ended December 31 Partner in Charge: Vanessa Smith Flexible Master Actual results Variance Variance budget budget 4,900 0 4,900 (100)U 5,000 Billed hours Revenue Controllable variable costs: Direct labor Variable overhead (137,200) (34,300) (120,000) (40,000) Contribution margin Controllable fixed costs: Rent Other administrative ?(30,000) 30,000) expenses (45,000) Branch operating income Actual Flexible Master ROI Residual Income

Explanation / Answer

a.

Note: I have tried my best for correct solution still you find further help please ask in comment.

Variance are given as positive no, still your solution required - then please add - sign in front of unfavorable variances.

Sewell, Bagan, and Clark, LLP City Branch Performance Report For the Year Ended December 31 Partner in Charge: Vanessa Smith Actual results Variance Flexible budget Variance Master budget Billed hours            4,900 0           4,900              100 U        5,000 Revenue $254,800 $9,800 F $245,000 $5,000 U $250,000 Controllable variable costs: Direct labor      (137,200) 19,600 U      (117,600)           2,400 F (120,000) Variable overhead        (34,300)     4,900 F        (39,200)              800 F    (40,000) Contribution margin $      83,300 $ 4,900 U $     88,200 $       1,800 U $ 90,000 Controllable fixed costs: Rent        (30,000)          -          (30,000)                -      (30,000) Other administrative expenses        (42,000)     3,000 F        (45,000)                -      (45,000) Branch operating income $      11,300 $ 1,900 U $     13,200 $       1,800 U $ 15,000

a.

Actual Flexible Master ROI = $      11,300 / $      40,000 $     13,200 / $ 40,000 $ 15,000 / $ 40,000 = 28.25% 33.00% 37.50% Residual Income = $      11,300 - $      12,000 $     13,200 - $ 12,000 $ 15,000 - $ 12,000 = $         (700) $       1,200 $    3,000 40000 x 30% = 12000

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