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8.33 Calculating sales and flexible budget variances For the month of April, Tom and Lynda had forecasted gym membership at 950 members. Tom and Lynda
8.33 Calculating sales and flexible budget variances For the month of April, Tom and Lynda had forecasted gym membership at 950 members. Tom and Lynda expect to collect $100 as the monthly fee from each member and to spend $35 in variable costs per member per month. Tom and Lynda budget $42,000 toward fixed costs. Actual results for April show membership at 975 members, revenues at $98,100, fixed costs at $43,000, and profit at $20,975. Required: Calculate the following: (Input all amounts as positive values and denote whether each variance is favorable (F) or unfavorable (U); If an answer is zero, please enter zero for the amount and select NA for the variance.) |(1) sales volume variance (2) sales price variance |(3) variable cost variance (4) fixed cost variance Be sure to mark each variance as being favorable (F) or unfavorable (U) or None if there is no variance
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