Assume that in October 2022 the Schmidt Machinery Company (C.xbibit 14 1) manufactured and sold wio unts for $855 each, Outing this morth, the company incurred $455,00 total varisble costs and $ ta2.000 totat fixed costs. The master budget data for the month aro as glven in Exhibit 14.1. Pequired: 1. Prepare a flexble budget for the production and sale of 1,110 units. 2 Compute for Octobet 2022 . a. The sales volume variance, in terms of operating income. indicate whether this varlance was fororable or infavorable b. The sales volume variance, in ferms of contribution margin, hdicate whether this variance was favorable or unfavorable 3. Compute for October 2022 . . The rotal fexale budget variance. indicate whether this vaciance was favorable or unfavorable. b. The total variable cosi fexible budget variance. Indicate whecher this variance was favorable or uafavorabie. c. The totel foed cost flexible budget variance. Indicate whether this variance was favorable of untrorable d. The seling price variance, incicate whether this variance was favorable or unfavorable Complete this question by entering your answers in the tabs below. Compute for Octaber 2072: 4. The saies volume variance, in terms of operating income. Indicate whether this varance wai favorable or unfavorabite b. The sales volume variance, in terms of contribution margin. Indicate whather this vaciance was favaratele of untororatie. Assuche that in October 2022 the Schimid Machinery Company (Exhiblt 14,1) manufactured and sold 1,130 units for $355 each. During this month, the company incurred $455,100 total variable costs and \$182,000 botal flupd costs. The master budget data for the month are as given in Exhibit 14.1. Required: 1. Propare a flexible butger for the production and sale of 1,110 units 2. Compute for Detober 2022 a. The sales volume variance, in termis of opereting income indicate whecher this variance was favorable or unfavorable b. The soles volume varance, in terms of contribution margin indicate whether this voriance was foversbie or unfoworable 3. Compute for October 2027 . a. The total flexible budget variance, incicase whether this variance was favorable or unfavocable. b. The total variable cost fexible buoget variance lndicote whether this varance was favorable or unfavorable. d. The seling price variance. Indicate whether this varlance was fovorabie or unfavorable. Complete this question by entering your anawers in the tabs below. Frepare a flexible budget fer the production and sale of 1,110 unts. Comparison of Actual and Budgeted Operating Income *U denotes an unfavorable effect on operating income. "*F denotes a favorable effect on operating income. Actual fixed factory overhead cost =$130,650; actual fixed selling and administrative cost $=$30,000. Budgeted fixed factory overhead cost =$120,000; budgeted fixed selling and administrative costs =$30,000. Assume that in October 2022 the Schmidt Machinery Company (Exhbrt 14.1) manufactured and sold 1,110 units for \$855 each Ouring this month, the company incurred $455 to0 total variable costs and $3 ta2,000 total frod costs. The master budgot data for the month we os given in Exhibit idt. Reeuired: 1. Prepare a ferible budget for the production and sale of 1,1 tio units 2. Compute for Oclober 2022 . a. The sales volume variance. in terts of operating income. indicate whether this vailance was favorable or unfavorable. b. The swies volume valance, in ferms of contribution mergin indicale whether this variance was favorable or infavorabie 3. Compste for October 2022 . b. The totat vartable cost thexible budget variance. Indicate whether this variance was favorable or unfavorabie. c. The lotal fined cos thenble budget variance. Indicate whether this variance was fovorabie of unfavorable. Camplete this question by entering vour answers in the tabs below. Compute for October 2022 : 3. The total Rexile budget variance, Indicate whetler this vartanice was tavorable or unfavorabie. b. The total variabie coit fexible bodget variance. Indicate witether this variance was favorable er unfovorable. 4. The sefing price variance. Indicate whether this vartance was fovorable or unfororable