Check Mate Printers, Inc., produces luxury checkbooks with three checks and stubs per page. Each checkbook is designed for an individual customer and is ordered through the customer's bank. The company's operating budget for September 2020 included these data: a (Click the icon to view the operating budget and actual results.) The executive vice president of the company observed that the operating income for September was much lower than anticipated, despite a higher-than-budgeted selling price and a lower-than-budgeted variable cost per unit. As the company's management accountant, you have been asked to provide explanations for the disappointing September results. Check Mate develops its exible budget on the basis of budgeted per-outputunit revenue and per-outputunit variable costs without demiled analysis of budgeted inputs Read the muirements. Requirement 1. Prepare a static-budget-based variance analysis of the September performance. Begin with the actual results, then compute the static budget and the static-budget variances. Label each variance as favorable or unfavorable. (E Requirements Actual Static-Budget Static Results Variances Budget _ 1. Prepare a static-budgetbased variance analysis of the September perfonnanoe. Units sold E 2. Prepare a exible-budgetbased variance analysis of the September performance. Revenues 3. Why might Check Mate nd the exible-budget-based variance analysis more informative than the static-budget-based variance analysis? Explain your answer. Begin with the actual results, then complete the exible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter "0" in the appropriate eld. If the variance is zero, do not select a label. Enter operating losses with a minus sign or parentheses.) Variable costs Contribution margin Fixed costs Operating income (loss) Requirement 2. Prepare a exible-budgetbased variance analysis of the September performance. Actual Flexible-Budget Flexible Sales-Volume Static Results Variances Budget Variances Budget I I I IIIII I I I I I I I Check Mate Printers, Inc., produces luxury checkbooks with three checks and stubs per page. Each checkbook is designed for an individual customer and is ordered through the customer's bank. The company's operating budget for September 2020 included these data: a (Click the icon to view the operating budget and actual results.) The executive vice president of the company observed that the operating income for September was much lower than anticipated, despite a higher-than-budgeted selling price and a lower-thanbudgeted variable cost per unit. As the company's management accountant. you have been asked to provide explanations for the disappointing September results. Check Mate develops its exible budget on the basis of budgeted per-output-unit revenue and peroutput-unit variable costs without detailed analysis of budgeted inputs. Read the muirements. . ._ . -. ....... Variable costs Data table Contribution margin Fixed costs The budgeted amounts for September 2020 were: Operating income (loss) = = = Number of checkbooks 12.000 Requirement 2. Prepare a exible-budgetbased variance analysis of the September performance. Selling Fri\" "9' book $ 21 ' 7 Begin with the actual results, then complete the exible budget columns and the static budget columns. Label each variance as favorable or unfavorable. Variable \"5' per two" $ variance is zero, do not select a label, Enter operating losses with a minus sign or parentheses.) Fixed costs for the month $ 145,000 Actual Flexible-Budget Flexible Sales-Volume Static The actual results for September 2020 were as follows: Results Variances Budget Variances Budget Number of Checkbooks produced and sold 9,100 Units 5\" E Average selling price per book 35 23 Revenues Variable cost per book 3 6 Variable costs Fixed costs for the month $ 149,900 Contribution margin Fixed costs Operating income (loss) = = = = = Print