Timberlake Company planned for a production and sales volume of 12,000 units. However, the company actually makes and sells 13,000 units. Per unit standards Static Budget Flexible BudgetNumber of units 12,000 13,000 Sales revenue$65.00 $780,000 $845,000 Variable manufacturing costs: Materials$11.00 132,000 143,000 Labor$9.00 108,000 117,000 Overhead$4.20 50,400 54,600 Variable general, selling, and administrative costs$11.00 132,000 143,000 Contribution margin $357,600 $387,400 Fixed costs Manufacturing overhead 100,800 100,800 General, selling, and administrative costs 45,000 45,000 Net
income $211,800 $241,600 What was the sales volume variance?
A. $29,800 favorable
B. $29,800 unfavorable
C. $65,000 unfavorable
D. $65,000 favorable
Answer: D
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Title to commercial real estate is conveyed through a contract, while title to noncommercial real estate, such as private homes, is conveyed through a deed.
Answer the following statement true (T) or false (F)
A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is expected to produce 600,000 units of product during its 8-year useful life. Calculate the depreciation expense in the first year under the following independent situations:1. The company uses the units-of-production method and the machine produces 70,000 units of product during its first year.2. The company uses the double-declining-balance method.3. The company uses the straight-line method.
What will be an ideal response?
The major argument in favor of an optional federal charter for insurers is that
A) small insurers need a national charter to be competitive with large insurers. B) a federal charter will prevent insurer insolvencies. C) a federal charter will provide greater oversight of insurer market practices. D) national insurers are at a competitive disadvantage under the present system.
What is a core premise of 18th-century economist Adam Smith's philosophy on free-market economies?
A) dividing fixed resources B) central planning of production C) eliminating business risk D) expanding resources E) redistribution of wealth