Question 1 (Private Browsing) O https://edugen.wileyplus.com/edugen/shared/assig

Question

Question 1 (Private Browsing) O https://edugen.wileyplus.com/edugen/shared/assignment/test/qprint.uni 110% *Question 1 Your answer is correct. Compute the missing amounts. 0 ting Data Women's Shoes Men's Shoes Children's Shoes Contribution margin $337,500 5t62500 ca (3) $225,000 06250 (5) 118,750 Controllable fixed costs Controllable margin Sales Variable costs 000 (4) 12500 ) 112.500 50,000 562 .500 7500 (6) 12500 2) 400,000 312,500 Attempts: 1 of 3 used * Question 1 Your answer is partially correct. Try again Prepare a responsibility report for the Women's Shoes Division assuming (1) the data are for the month ended June 30, 2017, and (2) al data equal budget except variable costs which are $6,250 over budget. HORATIO INC. Women's Shoe Division Responsibility Report For the Month Ended June 30, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Budget Actual 50,00 75000 $O TNeither Favorable nor Unfavorable ariable Cos 0625 412000 250Unfavorabl ontribution Margi 212500 206250 250 Unfavorabl ontrollable Fixed Cost 25,00 25,00 either Favorable nor Unfavorable Contribution Margin 87500 81250 250 Unfavorabl Attempts: 1 of 3 used

Explanation / Answer

Answers

This means that Actual variable cost are $ 6250 more than Budgeted variable cost.

Budget

Actual

Variance

Sales

$                                     7,50,000.00

$                 7,50,000.00

$ 0 Neither Favourable nor Unfavourable

Variable costs

$                                     4,06,250.00

$                 4,12,500.00 [WN-1: $406,250 + $ 6,250]

$ 6250 Unfavourable

Contribution margin

$                                     3,43,750.00 [750000 – 406250]

$                 3,37,500.00 [ 750000 – 412500]

$ 6250 Unfavourable

Controllable Fixed Cost

$                                     1,25,000.00

$                 1,25,000.00

$ 0 Neither Favourable nor Unfavourable

Controllable Margin

$                                     2,18,750.00 [343750 – 125000]

$                 2,12,500.00 [ 337500 – 125000]

$ 6250 Unfavourable

Budget

Actual

Variance

Sales

$                                     7,50,000.00

$                 7,50,000.00

$ 0 Neither Favourable nor Unfavourable

Variable costs

$                                     4,06,250.00

$                 4,12,500.00 [WN-1: $406,250 + $ 6,250]

$ 6250 Unfavourable

Contribution margin

$                                     3,43,750.00 [750000 – 406250]

$                 3,37,500.00 [ 750000 – 412500]

$ 6250 Unfavourable

Controllable Fixed Cost

$                                     1,25,000.00

$                 1,25,000.00

$ 0 Neither Favourable nor Unfavourable

Controllable Margin

$                                     2,18,750.00 [343750 – 125000]

$                 2,12,500.00 [ 337500 – 125000]

$ 6250 Unfavourable

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.