Cole Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Cole allocates overhead based on yards of direct materials. The$$ company's performance report includes the following selected$$ data:

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Part $1$

Requirement $1.$ Prepare a flexible budget based on the actual number of recliners sold. $($Round budget amounts per unit to the nearest$$ cent.$)$

Cole Recliners

Flexible Budget

Budget

Amounts

per Unit

Actual Units $($Recliners$)$

Sales Revenue

Variable Manufacturing Costs:

Direct Materials

Direct Labor

Variable Overhead

Fixed Manufacturing Costs:

Fixed Overhead

Total Cost of Goods Sold

Gross ProfitData table

Variable Manufacturing Costs:

Fixed Manufacturing Costs:

Fixed Overhead

Total Cost of Goods Sold

Gross ProfitData table

Variable Manufacturing Costs:

Fixed Manufacturing Costs:

Fixed Overhead

Total Cost of Goods Sold

Gross Profit