Assume Princeton Computer Company has created a standard cost card for the PCC model tablet computer, with overhead allocated based on direct labor hours: (Click the icon to view the standard costs.) During the month of September, Princeton Computer Company incurred the following costs while manufacturing 1,300 PCC model tablets: (Click the icon to view the actual costs.) Read the requirements. Requirement 1. Prepare a flexible budget for September for 1,100, 1,200, and 1,300 PCC model tablets. The tablet has a standard sales price of $590. List variable costs separately. Princeton Computer Company Flexible Budget For the Month Ended September 30 Budget Actual Costs Amounts per Unit Direct materials Direct labor Units 1,100 1,200 Sales Revenue $ 590 $649,000 $ 708,000 $ 1,300 767,000 Variable overhead Fixed overhead $ 435,500 219,960 52,260 60,960 Variable Costs: Direct Materials 330 363,000 396,000 Standard Costs Direct Labor 168 184,800 201,600 Variable Overhead 36 39,600 43,200 429,000 218,400 46,800 ne Total Variable Costs 587,400 640,800 694,200 Contribution Margin 61,600 67,200 72,800 Fixed Costs 60,000 60,000 60,000 Direct materials Direct labor Variable overhead Fixed overhead $330 per tablet 6 hours per tablet at $28 per hour 6 hours per tablet at $6 per hour $60,000 per month $ Operating Income 1,600 $ 7,200 $ 12,800 - X 1. Prepare a flexible budget for September for 1,100, 1,200, and 1,300 PCC model tablets. The tablet has a standard sales price of $590. List variable costs separately. 2. Using 1,200 PCC model tablets for the static budget, prepare a flexible budget performance report for September. Total sales revenue for the month was $790,400. The company sold 1,300 tablets. 3. What insights can the management of Princeton Computer Company draw from the performance report? Requirement 2. Using 1,200 PCC model tablets for the static budget, prepare a flexible budget performance report for September. Total sales revenue for the month was $790,400. The company sold 1,300 tablets. (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F)/Unfavorable (U) input blank.) Review the flexible budgets from Requirement 1. Princeton Computer Company Flexible Budget Performance Report For the Month Ended September 30 Units Sales Revenue Variable Costs: Direct Materials Direct Labor Variable Overhead Total Variable Costs Contribution Margin Fixed Costs Operating Income 1 2 3 4 5 (1)-(3) (3)-(5) Budget Flexible Sales Amounts Actual Budget Flexible Per Unit Results Variance Budget Volume Variance Static Budget