3 W E7-23 (similar to) Question Help Finance Organizer Printers, Inc., produces luxury checkbooks with three checks and stubs per page. Each checkbook is designed for an individual customer and is ordered through the customer's bank. The company's operating budget for September 2017 included these data: E (Click the icon to view the operating budget and actual results.) The executive vice president of the company observed that the operating income for September was much lower than anticipated, despite a higher-than-budgeted selling price and a lower-than-budgeted variable cost per unit. As the company's management accountant, you have been asked to provide explanations for the disappointing September results. Finance Organizer develops its flexible budget on the basis of budgeted per-output-unit revenue and per-output-unit variable costs without detailed analysis of budgeted inputs. Read the requirements parentheses.) Requirement 1. Prepare a static-budget-based variance analysis of the September performance. Begin with the actual results, then compute the static budget and the static-budget variances. Label each variance as favorable or unfavorable. (Enter an operating loss with a minus sign Actual Static-Budget Static Results Variances Budget Units sold 15,900 3,100 U 19,000 Revenues $ 381,600 $ 55,400 US 437,000 Variable costs 127,200 43,800 F 171,000 Contribution margin 254,400 11,600 U 266,000 Fixed costs 131,000 125,000 $ 123,400 $ 141,000 17,600 US Operating income (loss) 6,000 U Requirement 2. Prepare a flexible-budget-based variance analysis of the September performance. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a 50 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Enter operating losses with a minus sign or parentheses.) Actual Flexible-Budget Variances Flexible Budget i Data Table Results 15.900 Units sold Revenues $ 381,600 127,200 The budgeted amounts for September 2017 were: Variable costs Contribution margin 19.000 254.400 131,000 $ 23 Fixed costs Number of checkbooks Selling price per book Variable cost per book Fixed costs for the month $ S 123.400 Operating income (loss) 9 125,000 $ The actual results for September 2017 were as follows: 15,900 24 $ $ Number of checkbooks produced and sold Average selling price per book Variable cost per book Fixed costs for the month $ 8 $ 131,000 Choose from any list or enter any number in the input fields and then click Check Answer. Print Done