Douglas Company provided the following budgeted information for the current year. Required: (a) Using the form below, prepare a flexible budget; show actual results; calculate the flexible budget variances; and indicate whether the variances are favorable (F) or unfavorable (U). sales price $50 per unit variable manufacturing cost. 32 per unit fixed manufacturing cost $100,000 total fixed selling and administrative cost $40,000 total Flexible BudgetActual ResultsFlexible Budget F or u 22,000. 22,000

Number of units Sales revenue Variable manufacturing costs Contribution margin Fixed manufacturing costs Fixed selling and administrative costs Net Income