Question
Onyx Company has prepared a static budget at the beginning of the month. At the end of the month, the following information has been retrieved
Onyx Company has prepared a static budget at the beginning of the month. At the end of the month, the following information has been retrieved from the records.
Static budget:
Sales volume: 1,000 units: Price: $70 per unit
Variable expense: $32 per unit: Fixed expenses: $37,500 per month
Operating income: $500
Actual results:
Sales volume: 990 units: Price: $74 per unit
Variable expense: $35 per unit: Fixed expenses: $33,000 per month
Operating income: $5,610
Calculate the flexible budget variance for Sales Revenue.
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