ACCOUNTING-A. Set-up of the problem Fixed Budget

A. Set-up of the problem

Fixed
Budgeted $
Actual
Actual $
Variance

Budget
Per Unit
Results
Per Unit
In $ Total

Desk sales (units)

(AKA

Chairs sales (units)

Standard

Total sales
($)

Costs)

Desk
sales ($)

Chair
Sales ($)

Budgeted Expenses

V-desks

V-chairs

Fixed exp.

Total Exp.

Gross profit per
desks

Gross profit per
chair

Total gross profit

Fixed Expenses

Profit

B. Analysis of
Variance

TOTAL
UNITS

0

0

VARIABLE
COSTS

Analysis

Budgeted
of variance
Actual

Variable
costs

0

Per
unit VC

Variable variance

Due to Cost

*

Due to Efficiency

**

Total variance of
VC:

FIXED
COSTS

Analysis

Budgeted
of variance
Actual

Fixed
costs

0

Per unit FC

FC variance

Due to Cost

*

Due to Efficiency

**

Total variance of
FC:

*Cost
variance= (actual quantity * actual rate) – (actual quantity *standard rate)

**Efficiency
variance= (actual quantity* standard rate) – (standard quantity *standard
rate)

C. Possible
Flexible Budget

Flexible
$ Per
Actual

Budget 1
Unit
Results

Desk sales (units)

Chairs sales (units)

Desk
sales ($)

Chair
Sales ($)

Budgeted Expenses

V-desks

V-chairs

Fixed expenses

Total Budget Exp.

Gross profit per
desks

Gross profit per
chair

Total gross profit

Fixed Expenses

Profit

 

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