1.Flexible Budget Variance

a.Calculate the Company's Flexible Budget Variance. Link and report on the 'Flexible Budget Variance' tab.

b.Calculate the Company's sales price variance, fixed cost variance, and variable cost variance. Link and report on the 'Flexible Budget Variance' tab.

Use facts from the case to interpret the fixed cost variance and sales price variance. Do not define the formula for each variance but rather explain why each variance occurred and what it means

Units Sold- Retail Units Sold- Internet Units Sold - Wholesale Total Revenues Retail and Catalog !ntemet Wholesale Total Revenue Variable Production Costs Direct Materials: Acrylic fabric Acrylic eyes Plastic joints Polyster filling Woven label Designer box Accessories Total Direct Materials Direct Labor Variable Overhead Total Variable Production Costs Variable Selling Total Variable Expenses Contribution Margin Fixed Goats Manufacturing Overhead Selling Expenses Administrative expenses Total Fixed Costs Operating Income Master Budget 198,000 40,000 42,000 200,000 9,702,000 1,680,000 1,344,000 12,726,000 233,338 106,400 196,000 365,400 14,000 67,200 33,600 1,015,938 3,024,000 1,046,304 5,086,242 1,218,280 6,304,522 6,421,478 661,920 4,463,000 1,124,000 6,248,920 172,558 D Sales Mix Budget Flexible Budget .4st Budget Actual 134,970 125,429 37,615 293,014 6,613,530 5,268,018 1,203,680 13,085,228 256,422 113,245 246,002 450,856 14,901 65,563 66,013 1,213,002 3,608,534 1,689,147 6,510,683 1,859,594 8,370,277 4,714,951 658,897 5,123,210 1,123,739 6,905,846 (2,190,895! A B C D E F G H Answers Flexible Budget Variance Sales Price Variance Word Count 4 Variable Cost Variance Fixed Cost Variance Q3c. Use facts from the case to interpret the fixed cost variance and sales price variance. Do not define the formula for each variance but rather explain why each variance occurred and what it means. Enter your Answer here