22 Based on predicted production of 25,000 units, a company budgets $310,000 of fixed costs and $375,000 of variable costs. If the company actually produces 18,800 units, what are the flexible budget amounts of fixed and ariable costs? -.----Flexible Budget--... 8 03:37:40 Variable Amount per Unit Total Fixed Cost 18,800 units 23 Required information [The following information applies to the questions displayed below.] The fixed budget for 21,100 units of production shows sales of $464,200; variable costs of EZ:LE:EO 8 $63,300; and fixed costs of $144,000. The company's actual sales were 28,000 units at $567,000. Actual variable costs were $113,700 and actual fixed costs were $136,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable Contribution margin 24 A company reports the following for one of its products. Direct materials standard (4 pounds @ $2 per pound) $ 8 per unit Actual direct materials 340, 060 pounds Actual units produced 65, 060 units Actual cost of direct materials used $ 612, 000 8 03:37:02 AQ = Actual Quantity SQ = Standard Quantity p = Actual Price SP = Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Actual Cost Standard Cost 25 A company reports the following information for its direct labor. urs of direct labor used 65,095 Standard rate of direct labor per hour Standard hours of direct labor for units produced 66 , 100 8 03.36:52 AH = Actual Hours = Standard Hours R = Actual Rate SR = Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost Standard Cost