i Data Table - ces 7. TI data etual Performance Report Year Ended December 31, 2017 Flexible-Budget Flexible Variances Budget Actual Sales-Volume Static sult Variances 10 Results 105,000 Budget 90,000 67 Units sold Revenues (sales) $ S 44 672,000 440,000 324,000 162,000 Variable costs 23 Contribution margin 201 232,000 200,000 162,000 130,000 Fixed costs 3 $ Operating income 32,000 S 32,000 any The Richfield Company produces engine parts for car manufacturers. A new accountant inter at Richfield has accidentally deleted the calculations on the company's variance analysis calculations for the year ended December 31, 2017. The following table is what remains of the data !!! (Click the icon to view the data) Read the requirements Requirements Actual Flexible-Budget Flexible Results Variance Budget Units sold 105,000 1. Calculate all the required variances of your work is accurate, you will find that Revenues (sales) $ the total static-budget variance is $0.) 672.000 2. What are the actual and budgeted selling prices? What are the actual and Variable costs 440.000 budgeted variable costs per unit? Contribution margin 232,000 3. Review the variances you have calculated and discuss possible causes and potential problems. What is the important lesson learned here? Fixed costs 200,000 S 32.000 Operating income Print Done Choose from any list or enter any number in the input fields and then click Check Ans O parts