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28 Sep 2019
E23-16: Preparing a flexible budget performancereport
Cole Pro Company managers received the following incompleteperformance report:
Cole Pro Company
Flexible Budget Performance Report
For the year ended July 31, 2016
Actual results Flexible budget variance Flexible Budget Sales Volume Variance Static Budget Units 39,000 (a) 39,000 8,000 F (g) Sales revenue $214,000 (b) $214,000 $19,000 F (h) Variable Expenses 86,000 (c) 80,000 8,000 U (i) Contribution Margin 128,000 (d) 134,000 11,000 F (j) Fixed Expenses 108,000 (e) 103,000 0 (k) Operating Income 20,000 (f) 31,000 11,000 (l)
Complete the performance report. Identify the employee groupthat may deserve praise and the group that may be subject tocriticism. Give your reasoning.
Please list the step by step process. Thank you!
E23-16: Preparing a flexible budget performancereport
Cole Pro Company managers received the following incompleteperformance report:
| Cole Pro Company Flexible Budget Performance Report For the year ended July 31, 2016 | |||||
| Actual results | Flexible budget variance | Flexible Budget | Sales Volume Variance | Static Budget | |
| Units | 39,000 | (a) | 39,000 | 8,000 F | (g) |
| Sales revenue | $214,000 | (b) | $214,000 | $19,000 F | (h) |
| Variable Expenses | 86,000 | (c) | 80,000 | 8,000 U | (i) |
| Contribution Margin | 128,000 | (d) | 134,000 | 11,000 F | (j) |
| Fixed Expenses | 108,000 | (e) | 103,000 | 0 | (k) |
| Operating Income | 20,000 | (f) | 31,000 | 11,000 | (l) |
Complete the performance report. Identify the employee groupthat may deserve praise and the group that may be subject tocriticism. Give your reasoning.
Please list the step by step process. Thank you!
Bunny GreenfelderLv2
28 Sep 2019