10.Bennett Street Table Company manufactures tables for schools. The 2018 operating budget is based on sales of 45,000 units at $54 per table. Operating income is anticipated to be $175,000. Budgeted variable costs are $35 per unit, while fixed costs total $680,000. Actual income for 2018 was a surprising $585,000 on actual sales of 46,000 units at $60 each. Actual variable costs were $33 per unit and fixed costs totaled $657,000. Required: Prepare a variance analysis report with both flexible-budget and sales-volume variances. Answer: Bennett Street Table Company Flexible Variance Analysis Flexible Volume Budget Variances Sales-Static 46,000 45,000 Actual Results Variances Units sold 46,000 Sales $2,760,000 Variable costs 1,518,000 Contributio n margin 1,242,000 Fixed costs 657,000 Operating income $585,000