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EXHIBIT 14. 4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (7) ( 2) ( 3 ) ( 4 ) ( 5 ) Flexible - Budget Flexible Sales Volume Master ( Static ) Actual Variances Budget Variances Budget Units 780 780 220U 1. 000 Sales $639. 600 $15 , 60OF $624, 000 $176. 00OU $800, 000 Variable costs 350, 950 50 F 351, 000 99, 00OF 450, 000 Contribution margin $288. 650 $15, 65OF $273, 000 $ 77. 00OU $350, 000 Fixed costs 160, 650 10. 650U 150, 000 * 150, 000 " Operating income $128, 000 $ 5, 00OF $123, 000 $ 77, 00OU $200, 000 Analysis of Total Operating - Income Variance* Total operating -income variance*" = $128, 000 -$200, 000 = $72, 00OU Flexible - budget variance Sales volume variance = $128, 000 - $123, 000 = $123, 000 - $200, 000 = $5 , 00OF = $77 , 00OURequired information [The following information applies to the questions displayed below.] As part of its comprehensive planning and control system, Mopar Company uses a master budget and subsequent variance analysis. You are given the following information that pertains to the company's only product, XL-10, for the month of December. Required: 1. Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December. 2. Based on your completed profit report, determine the dollar amount, and label (Favorable or Unfavorable) each of the following variances for December: a. Total master (static) budget variance (also referred to as the total operating income variance for the period). b. Total flexible-budget variance. c. Sales volume variance, in terms of operating income. d. Sales volume variance, in terms of contribution margin. e. Selling price variance. Complete this question by entering your answers in the tabs below. Required Required 1 2 Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December. (If a variance has no amount, select "None" in the corresponding dropdown cell.) Show less Actual Flexible-budget Flexible Sales volume Master results variances budget variances (static) budget Unit sales 109,000 98,000 Sales $ 545,000 $ 490,000 Variable costs 414,200 294,000 Contribution margin $ 130,800 196,000 Fixed costs 71,000 84,000 Operating income $ 59,800 $ 112,000 Required information [The following information applies to the questions displayed belo be} As part ofits comprehensive planning and control system, Mopar Company uses a master budget and subsequent variance analysis. You are given the following information that pertains to the company's only product, XL-10, for the month of December. Required: 1. Using text Exhibit 14.4 as a guide, complete the missing parts ofthe following prot report for December. 2. Based on your completed prot report, determine the dollar amount, and label {Favorable or Unfavorable} each of the following variances for December: a. Total master (static) budget variance (also referred to as the total operating income variance for the period). b. Total flexible-budget variance. c. Sales volume variance, in terms of operating income. d. Sales volume variance, in terms of contribution margin. e. Selling price variance. Complete this question by entering your answers in the tabs below. Required Required 1 2 2. Based on your completed profit report, determine the dollar amount, and label (Favorable or Unfavorable)) each of the following variances for December: (If a variance has no amount, select "None" in the corresponding dropdown cell.) a. Total master (static) budget variance (also referred to as the total operating income variance for the period). b. Total exible-budget variance. c. Sales volume variance, in terms of operating income. d. Sales volume variance, in terms of contribution margin. e. Selling price variance. Total master (static) budget variance Total exible-budget variance Sales volume variance, in terms of operating income Sales volume variance, in terms of contribution ma -in Selling price variance