The following table contains a hypothetical partial master budget performance re

Question

The following table contains a hypothetical partial master budget performance report for Amazing Chocolates, (Click the icon to view the partial master budget performance report.) Fill in the missing amounts. Be sure to indicate whether variances are favorable (F) or unfavorable (U). (Enter the variances as positive If the variance is 0, make sure to enter in a "0" Label each variance as favorable (F) or unfavorable (U) unless the variance is zero, l en select a label.) Amazing Chocolates Flexible Budget Performance Report - Sales and Operating Expenses For Year Ended December 31 Flexible Budget Actual Variance Flexible Budget Volume Variance Master Budget Sales volume (batches sold) 12,600 12,600 11,800 revenue ($29 per batch) $360,400

Explanation / Answer

Flexible budget performance report-sales and operating expenses

flexible

budget variance

Actual

flexible

budget variance

flexibile budget volume variance master budget Sales volume 12600 12600 11800 Sales revenue 360400 5000(U) 365400 23200(F) 342200 Operating expenses: Variable operating expenses Sales expenses 62000 1000(F) 63000 4000(U) 59000 Shipping expenses 24700 500(F) 25200 1600(U) 23600 Fixed operating expenses: Salaries 10500 400(U) 10100 0 10100 Office expenses 1000 0 1000 0 1000 Total operating expenses 98200 1100(F) 99300 5600(U) 93700

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