1 A B D E F Pat Smith is the founder and president of Pat Products. Pat called their child, Sam who is the sales manager, into their office to discuss their perform A static budget report has been prepared. 2 3 4 5 6 7 8 Pat Products Static Budget Report Month Ended October 31, 2020 Static Budget 8,000.00 Variance Actual 9,000.00 + 10 11 Sales in units 12 Variable costs: 13 Sales commissions 14 Travel expense 15 Meals expense 16 Entertainment expense 17 Total variable costs 18 Fixed costs: 19 Sales salaries 20 Total costs 21 $ 2,800.00 $ 3,000.00 $ 200.00 U $ 2,400.00 $ 2,400.00 $ $ 1,300.00 $ 1,500.00 $ 200.00 U $ 4,000.00 $ 3,600.00 $ 400.00 F $10,500.00 $10,500.00 $ $ 1,000.00 $ 1,000.00 $ $11,500.00 $11,500.00 $ eod. form 19.markel WATS 20 Total costs $11,500.00 $11,500.00 $ 21 22 Required: 23 a) Prepare a flexible budget for October in good form. (9 marks) 24 b) Should Sam be praised or reprimanded for their performance in October? (1 mark) expense which stayed the same. Actual fixed costs did not change from September. Prepare a flexible budget 25 for November (5 marks) 26 d) Comment on Sam's performance in November. (1 mark) 1 A B D E F Pat Smith is the founder and president of Pat Products. Pat called their child, Sam who is the sales manager, into their office to discuss their perform A static budget report has been prepared. 2 3 4 5 6 7 8 Pat Products Static Budget Report Month Ended October 31, 2020 Static Budget 8,000.00 Variance Actual 9,000.00 + 10 11 Sales in units 12 Variable costs: 13 Sales commissions 14 Travel expense 15 Meals expense 16 Entertainment expense 17 Total variable costs 18 Fixed costs: 19 Sales salaries 20 Total costs 21 $ 2,800.00 $ 3,000.00 $ 200.00 U $ 2,400.00 $ 2,400.00 $ $ 1,300.00 $ 1,500.00 $ 200.00 U $ 4,000.00 $ 3,600.00 $ 400.00 F $10,500.00 $10,500.00 $ $ 1,000.00 $ 1,000.00 $ $11,500.00 $11,500.00 $ eod. form 19.markel WATS 20 Total costs $11,500.00 $11,500.00 $ 21 22 Required: 23 a) Prepare a flexible budget for October in good form. (9 marks) 24 b) Should Sam be praised or reprimanded for their performance in October? (1 mark) expense which stayed the same. Actual fixed costs did not change from September. Prepare a flexible budget 25 for November (5 marks) 26 d) Comment on Sam's performance in November. (1 mark)