A company manufactures and sells dish soap out of Oakville, Ontario. They have provided the actual and static budget information for the month of April below: April Actual Result 4,620 April Static Budget 3,850 $140.50 $117.00 $30.00 $28.50 $28.50 $20.50 Soap unit sales Per unit metrics Selling price Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative costs Fixed costs per period Fixed manufacturing overhead Fixed selling and administrative costs $8.50 $7.00 $3.50 $5.50 $34,948 $21,554 $39,000 $23,200 Part A: Static Budget Performance Report Complete a static budget performance report for the month. Compute static variances as absolute numbers (i.e., insert as positive numbers) and for each variance indicate if it is favourable (F) or unfavourable (U). (1/2 mark each - 11 marks total) Static Budget Performance Report For the month ended April 30 Actual Result Static Budget Static Budget Variances Sales $649,110 $450,450 Number OF OU Less: Variable expenses O Direct materials 138,600 109,725 Number F OU O Direct labour 131,670 78,925 Number F OU Variable manufacturing overhead 39,270 26,950 Number OF OU Selling and administrative 16,170 21,175 Number Total variable expenses 325,710 236,775 Number OF OU Contribution margin 323,400 213,675 Number OF OU Less: Fixed expenses Manufacturing overhead 34,948 OF OU 39,000 Number Selling and administrative costs O F 21,554 23,200 Number O U Total fixed expenses 56,502 62,200 Number OF OU Operating income / (loss) $266,898 $151,475 Number Part B: Flexible Budget and Performance Report Complete a flexible budget and flexible budget performance report for the month. Compute flexible variances as absolute numbers (i.e., insert as positive numbers) and for each variance indicate if it is favourable (F) or unfavourable (U). (1/2 mark each - 15 marks total) Flexible Budget Performance Report For the month ended April 30 Actual Result Flexible Budget Flexible Budget Variances Sales $649,110 Number Number OF OU Less: Variable expenses 138,600 Direct materials Number Number O Direct labour 131,670 Number Number F OU Variable manufacturing overhead 39,270 Number Number OF OU Selling and administrative 16,170 Number Number F OU Total variable expenses 325,710 Number Number OF OU Contribution margin 323,400 Number Number OF OU Less: Fixed expenses Manufacturing overhead 34,948 39,000 Number OF OU Selling and administrative costs 21,554 23,200 Number OF OU Total fixed expenses 56,502 62,200 Number OF OU Operating income / (loss) $266,898 Number Number OF OU