The annual flexible budget below was prepared for use in making decisions relations to Product X. 100,000 units 150,000 units 200,000 units Sales volume $ 800,000 $1,200,000 $1,600,000 Manufacturing costs: Variable $300,000 $450,000 $600,000 Fixed 200,000 200,000 200,000 $500,000 $650,000 $800,000 Selling & other expenses Variable $200,000 $300,000 $400,000 Fixed 160,000 160,000 160,000 $360,000 $460,000 $560,000 Income (or loss) $(60,000) $90000 $240,000 The 200,000 unit budget has been adopted and will be used for allocating fixed manufacturing costs to units of Product X. At the end of the first 6 months, the following information is available: Units Production completed 120,000 Sales 60,000 All fixed costs are budgeted and incurred uniformly throughout the year, and all costs incurred coincide with the budget. Over- and under-applied fixed manufacturing costs are deferred until year-end. Annual sales have the following seasonal pattern. Portion of Annual Sales First quarter 10% Second quarter 20% Third quarter 30% Fourth quarter 40% Reported net income (or loss) for the first 6 months under variable costing is? Reported net income (or loss) for the first 6 months under absorption costing is? The amount of fixed factory costs applied to product during the first 6 months under absorption costing is over applied or under applied by what amount?

The annual flexible budget below was prepared for use in making decisions relations to Product X. 100,000 units 150,000 units 200,000 units Sales volume $ 800,000 $1,200,000 $1,600,000 Manufacturing...

The annual flexible budget below was prepared for use in making decisions relations to Product X.

	100,000 units	150,000 units	200,000 units
Sales volume	$ 800,000	$1,200,000	$1,600,000
Manufacturing costs:
Variable	$300,000	$450,000	$600,000
Fixed	200,000	200,000	200,000
	$500,000	$650,000	$800,000
Selling & other expenses
Variable	$200,000	$300,000	$400,000
Fixed	160,000	160,000	160,000
	$360,000	$460,000	$560,000
Income (or loss)	$(60,000)	$90000	$240,000

The 200,000 unit budget has been adopted and will be used for allocating fixed manufacturing costs to units of Product X. At the end of the first 6 months, the following information is available:

	Units
Production completed	120,000
Sales	60,000

All fixed costs are budgeted and incurred uniformly throughout the year, and all costs incurred coincide with the budget. Over- and under-applied fixed manufacturing costs are deferred until year-end. Annual sales have the following seasonal pattern.

	Portion of Annual Sales
First quarter	10%
Second quarter	20%
Third quarter	30%
Fourth quarter	40%

Reported net income (or loss) for the first 6 months under variable costing is?

Reported net income (or loss) for the first 6 months under absorption costing is?

The amount of fixed factory costs applied to product during the first 6 months under absorption costing is over applied or under applied by what amount?

Jun 08, 2022

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The annual flexible budget below was prepared for use in making decisions relations to Product X. 100,000 units 150,000 units 200,000 units Sales volume $ 800,000 $1,200,000 $1,600,000 Manufacturing...

Portion of Annual Sales

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