Four Flags is a retail department store. On January 1, 2019, Four Flags' accountants used the following data to develop the master budget for Four Flags for 2019:

Cost	Fixed	Variable (per sales dollar)
Cost of Goods Sold	$0	$0.620
Selling and Promotion Expense	$215,000	$0.080
Building Occupancy Expense	$180,000	$0.010
Buying Expense	$155,000	$0.050
Delivery Expense	$100,000	$0.010
Credit and Collection Expense	$70,000	$0.003

Expected unit sales in 2019 were 1,200,000, and 2019 total revenue was expected to be $12,000,000. Actual 2019 unit sales turned out to be 1,100,000, and total revenue was $11,000,000. Actual total costs in 2019 were:

Cost of Goods Sold	$6,000,000
Selling and Promotion Expense	$1,000,000
Building Occupancy Expense	$490,000
Buying Expense	$530,000
Delivery Expense	$170,000
Credit and Collection Expense	$50,000

Required Compute the flexible budget variances in 2019 for the following two cost items (NOTE: enter favorable variances as positive numbers and unfavorable variances as negative numbers):

Four Flags is a retail department store. On January 1, 2019, Four Flags' accountants used the following data to develop the master budget for Four Flags for 2019: Cost Fixed Variable (per sales dollar) Cost of Goods Sold $0 $0.620 Selling and Promotion Expense $215,000 $0.080 Building Occupancy Expense $180,000 $0.010 $155,000 $0.050 Buying Expense Delivery Expense $100,000 $0.010 Credit and Collection Expense $70,000 $0.003 Expected unit sales in 2019 were 1,200,000, and 2019 total revenue was expected to be $12,000,000. Actual 2019 unit sales turned out to be 1,100,000, and total revenue was $11,000,000. Actual total costs in 2019 were: Cost of Goods Sold $6,000,000 Selling and Promotion Expense $1,000,000 Building Occupancy Expense $490,000 Buying Expense $530,000 Delivery Expense $170,000 Credit and Collection Expense $50,000 Required Compute the flexible budget variances in 2019 for the following two cost items (NOTE: enter favorable variances as positive numbers and unfavorable variances as negative numbers): Buying Expense Credit and Collection Expense Submit Answer Tries 0/2