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As the new accountant for Cohen & Co., you've been asked to provide a succinct analysis of operating results for the year just ended. You

As the new accountant for Cohen & Co., you've been asked to provide a succinct analysis of operating results for the year just ended. You obtain the following information that pertains to the company's sole product. Data Master (Static) Actual Budget Units sold 40,000 45,000 Sales $380,000 $450,000 Variable costs $210,000 $270,000 Fixed costs $145,000 $135,000 Requirements 1. What was the actual operating income for the period? (Round answer to nearest whole dollar.) 2. What was the company's master (static) budget operating income for the period? (Round answer to nearest whole dollar.) 3. (a) What was the total master (static) budget variance, in terms of operating income, for the period (rounded to the nearest whole dollar)? (Note: the total master (static) budget variance is also referred to as the total operating income variance for the period.) (b) Is this variance favorable (F) or unfavorable (U)? Why? 4. The total master (static) budget variance for a period can be decomposed into a total flexible-budget variance and a sales volume variance. (a) what was (to the nearest whole dollar) the total flexible-budget variance for the period? (b) was this variance favorable (F) or unfavorable (U)? (c) what was the sales volume variance (to the nearest whole dollar) for the period? (d) was this variance favorable (F) or unfavorable (U)? RTI Company's master budget calls for production and sales of 18,000 units for $81,000; variable costs of $30,600; and fixed costs of $20,000. The company incurred $32,000 of variable costs to produce and sell 20,000 units for $85,000, and earned $25,000 operating income

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