Homework: chapter 7 Save Score: 0 of 20 pts 4 of 6 (1 complete) HW Score: 12 8996, 187 of 145 pts E7-18 (similar to) Question Help Bank Management Printers, Inc, produces koxury checkbooks with hree checks and stubs per page Each checkbook is designed for an individual customer and is ordered through the customer's bank. The company's operating budget and actual results for September 2014 included these data (Click the icon to view the operating budget and actual results) The executive vice president of the company observed that the operating income for September was much lower than anticipated, despite a higher-than-budgeted selling price and a lower-than-budgeted variable cost per unit As the company's management accountant, you have been asked to provide explanations for the disappointing September results Bank Management develops its fexible budget on the basis of budgeted per-output-unit revenue and per-output-unit variable costs withoun detailed analysis of budgeted input Read the requirements Requirement 1. Prepare a static-budget-based vanance anaysis of the September performance Begin with the actual results, then compute the static budget and the statc-budget variances. Label each variance as favorable or unfavorable (Enter an operating loss with a minus sign or parentheses ) Actual Results Data Table Units sold Revenues Variatile costs Contabution Fixed costs Operating ncome loss) The budgeted amounts for September 2014 were. Number of checkbooks Seling price per bookS Variable cost per book S Fixed costs for the month S 110.000 16.000 23 0 Requrements The actual results for September 2014 were as follows Number of checkbooks produced and sold Average selling price per book Variable cost per book Fixed costs for the month 13,000 25 1. Prepare a static-budget based variance analysis of the September performance 2. Prepare a flexible-budget-based variance analyss of the September performance 3. Why might Bank Management find the flexible-budget-based variance analysis more nformative than the stabic-budget-based variance analysis? Explain your answer S 114.000 Print Done Print Done parts Clear All Check