The Flashlight Company Projected Yearly Sales of 12,000 Units at $15.00

question 50

Essay

The Flashlight Company projected yearly sales of 12,000 units at $15.00 per unit. Actual sales for the year were 15,000 units at $16.00 per unit. Variable expenses, budgeted at $10.00 per unit, actually amounted to $15.00 per unit. Fixed expenses, budgeted at $50,000, actually totaled $48,000.
Prepare the Flashlight Company's income statement performance report for the year ended December 31, including both flexible budget variances and sales volume variances.

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Definitions:

Workforce Management

The process of balancing workloads with available labor resources, including planning, forecasting, scheduling, and monitoring.

Strategic Human Resource Planning

The process of aligning an organization's human resource functions with its strategic goals, ensuring the right number and type of employees are available to meet future business needs.

Organizational Strategy

A plan that outlines how a company will allocate its resources to achieve its long-term goals and objectives.

Workforce Planning Information Technology

The use of information technology tools and systems to forecast, plan, and manage the needs of the workforce effectively.