Exercice 2: Indicate for each line of the following table if there is a favourable or...

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Exercice 2: Indicate for each line of the following table if there is a favourable or unfavourable variance. Unfavorable < Actual Sales Budgeted Sales Actual Expenses > Budgeted expenses Favorable Actual Sales Budgeted Sales Actual Expenses < Budgeted Expenses Actual Budget Units Sold 1,400 1,500 Sales Price Sales Cost of Goods Sold $ 75 $ 75 $105,000 $112,500 Direct Material Direct Labor Variable Manufacturing Overhead $ 5,550 $ 6,000 21,500 22,500 4,100 4,500 Fixed Manufacturing Overhead 28,900 29,000 Total Cost of Goods Sold 60,050 62,000 Gross Profit 44,950 50,500 Variable Sales and Administration 3,550 3,750 Fixed Sales and Administration 17,500 18,000 Income Taxes 985 1,000 Total Other Expenses 22,035 22,750 Net Income (Loss) 22,915 27,750 Exercice 2: Indicate for each line of the following table if there is a favourable or unfavourable variance. Unfavorable < Actual Sales Budgeted Sales Actual Expenses > Budgeted expenses Favorable Actual Sales Budgeted Sales Actual Expenses < Budgeted Expenses Actual Budget Units Sold 1,400 1,500 Sales Price Sales Cost of Goods Sold $ 75 $ 75 $105,000 $112,500 Direct Material Direct Labor Variable Manufacturing Overhead $ 5,550 $ 6,000 21,500 22,500 4,100 4,500 Fixed Manufacturing Overhead 28,900 29,000 Total Cost of Goods Sold 60,050 62,000 Gross Profit 44,950 50,500 Variable Sales and Administration 3,550 3,750 Fixed Sales and Administration 17,500 18,000 Income Taxes 985 1,000 Total Other Expenses 22,035 22,750 Net Income (Loss) 22,915 27,750