Business, 24.05.2021 18:20 thanitoast84

The following information is available for the XYZ Company for the month of July: Static Budget Actual
Units 7,000 6,650
Sales revenue $60,000 $55,715
Variable manufacturing costs $15,000 $14,250
Fixed manufacturing costs $20,000 $17,000
Variable selling & administrative expense $10,000 $10,500
Fixed selling & administrative expense $15,000 $12,000
The total sales-volume variance for operating income for the month of July would be:

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Answer from: xxaurorabluexx

XYZ Company

The total sales-volume variance for operating income for the month of July would be:

$3,765 Favorable

Explanation:

a) Data and Calculations:

Static Budget Actual

Units 7,000 6,650

Sales revenue $60,000 $55,715

Variable manufacturing costs $15,000 $14,250

Fixed manufacturing costs $20,000 $17,000

Variable selling & administrative exp. $10,000 $10,500

Fixed selling & administrative expense $15,000 $12,000

Flexible Budget Actual

Units 6,650 6,650

Sales revenue = $57,000($60,000/7,000 * 6,650) $55,715

Variable manufacturing costs = $14,300 ($15,000/7,000 * 6,650) $14,250

Fixed manufacturing costs $20,000 $17,000

Variable selling & administrative exp. =$9,500 ($10,000/7,000 * 6,650) $10,500

Fixed selling & administrative expense $15,000 $12,000

Flexible Budget Actual Variance

Units 6,650 6,650

Sales revenue $57,000 $55,715 $1,285 U

Variable manufacturing costs $14,300 $14,250 50 F

Fixed manufacturing costs $20,000 $17,000 3,000 F

Variable selling & administrative exp. $9,500 $10,500 1,000 U

Fixed selling & administrative expense $15,000 $12,000 3,000 F

Operating income ($1,800) $1,965 $3,765 F

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