=+11-21 KK Flexible budget OBJECTIVE 2 Kindle Ltd manufactures high-quality speakers. For August, it budgeted to manufacture and sell 2000 speakers at a variable cost of

$78 per speaker and total fixed costs of $98000. The budgeted selling price was $140 per speaker. Actual results in August were 1800 speakers manufactured and sold at a selling price of $132 per speaker. The actual total variable costs were $160200 and the actual total fixed costs were $89000.

Required 1 Prepare a performance report (akin to Table 11-3, p. 426) that uses a flexible budget and a static budget.