Question
Beech Company produced and sold 105,000 units of its product in May. For the level of production achieved in May, the budgeted amounts were: sales,
Beech Company produced and sold 105,000 units of its product in May. For the level of production achieved in May, the budgeted amounts were: sales, $1,300,000; variable costs, $750,000; and fixed costs, $300,000. The following actual financial results are available for May. |
|
| Actual |
Sales (105,000 units) | $ | 1,275,000 |
Variable costs |
| 712,500 |
Fixed costs |
| 300,000 |
Prepare a flexible budget performance report for May. |
Beech Company
Flexible Budget Performance Report
For Month Ended May 31
| Flexible Budget | Actual Results | Variance | Favorable/Un fav. |
Sales |
|
|
|
|
Variable Expense |
|
|
|
|
Contribution Margin |
|
|
|
|
Fixed Expense |
|
|
|
|
Income from Operations |
|
|
|
|
(Could you please show how to get the Flexible Budget)
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