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As the new accountant for Cohen & Co., you have been asked to provide a succinct analysis of financial performance for the year just ended.
As the new accountant for Cohen & Co., you have been asked to provide a succinct analysis of financial performance for the year just ended. You obtain the following information that pertains to the company's sole product: What was the actual operating income for the period? Actual operating income $.15.000 What was the company's master budget operating income for the period? Master budget operating income $ 33.000 What was the total master (static) budget variance, in terms of operating income. for the period? Is this variance favorable or unfavorable? Total master budget variance $18.000 Unfavorable From the information given earlier, decompose the total master (static) budget variance by determining the amounts for both the total flexible budget variance and sales volume variance. Are these variances favorable or unfavorable? (Leave no cells blank be certain to enter "0" wherever required. If a variance has no amount, select "None" in the corresponding dropdown cell.)
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