G H K L SHU Co. Flexible Budget Home Run Practice! a The SHU Company president,...

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G H K L SHU Co. Flexible Budget Home Run Practice! a The SHU Company president, Gregory Peters, has come to you for help. Use the following data to answer the following questions: Sales volume ("Production volume) Budgeted 12,000 Actual 10,000 Sales price: $24 per unit $22 per unit Variable costs: D Direct materials $5 per unit $6 per unit 0 Direct Labor $2 per unit $2 per unit D Variable overhead $7 per unit $8 per unit Variable Admin Exp $3 per unit $2 per unit 0 Variable Selling $1 per unit $2 per unit Fixed costs: 0 Manufacturing Overhead $50,000 $60,000 0 Admin Exp $20,000 $15,000 (1) Prepare contribution margin income statement for actual results, flexible budget and static budget. (2) Calculate static budget variance and flexible budget variance and sales volume variance G H K L SHU Co. Flexible Budget Home Run Practice! a The SHU Company president, Gregory Peters, has come to you for help. Use the following data to answer the following questions: Sales volume ("Production volume) Budgeted 12,000 Actual 10,000 Sales price: $24 per unit $22 per unit Variable costs: D Direct materials $5 per unit $6 per unit 0 Direct Labor $2 per unit $2 per unit D Variable overhead $7 per unit $8 per unit Variable Admin Exp $3 per unit $2 per unit 0 Variable Selling $1 per unit $2 per unit Fixed costs: 0 Manufacturing Overhead $50,000 $60,000 0 Admin Exp $20,000 $15,000 (1) Prepare contribution margin income statement for actual results, flexible budget and static budget. (2) Calculate static budget variance and flexible budget variance and sales volume variance