Question
Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $80
Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $80 per unit and variable costs of $35 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)
| Flexible Budget Performance Report | ||||
| For Month Ended June 30 | Flexible Budget (10,800 units) | Actual Results (10,800 units) | Variances | |
|---|---|---|---|---|
| Sales | $ ? | $ ? | $ 21,000 | F |
| Variable costs | ? | 351,000 | ? | |
| Contribution margin | 486,000 | ? | ? | |
| Fixed costs | 270,000 | 285,000 | ? | |
| Income | $ ? | $ ? | $ ? | |
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Advanced Accounting
Authors: Susan Hamlen
5th Edition
1618534246, 9781618534248
