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1. (15 points). Chamonix Inc. produces a single product. A new accountant intern has accidentally deleted the company's variance analysis calculations for the year
1. (15 points). Chamonix Inc. produces a single product. A new accountant intern has accidentally deleted the company's variance analysis calculations for the year ended December 31, 2021. The following table is what remains of the data. Show your calculations and relevant units. Units sold Actual Results 60,000 Flexible-Budget Variances Flexible Budget Sales-Volume Variances Static Budget Revenues $780,000 840,000 Variable Costs 450,000 480,000 $464,000 Contribution margin 330,000 360,000 Fixed costs 200,000 220,000 Operating income $130,000 $140,000 a. Complete the table above and for each variance indicate whether it is favorable or unfavorable. b. The actual selling price is:_ C. The budgeted selling price is:_ d. The actual variable cost per unit is:_ e. The budgeted variable cost per unit is:_ f. Explain why the flexible budget is needed and provide an example from the table above:_
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Answer a To complete the table and determine whether each variance is favorable or unfavorable we need to calculate the missing values FlexibleBudget ...Get Instant Access to Expert-Tailored Solutions
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