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I see that yall are able to help with up to 4 subparts of a question. Could I please have help with all 3 of
I see that yall are able to help with up to 4 subparts of a question. Could I please have help with all 3 of these? I really need it
The Liberty Company produces engine parts for car manufacturers. A new accountant intern at Liberty has accidentally deleted the company's variance analysis calculations for the year ended December 31, 2020. The following table is what remains of the data. (Click the icon to view the data.) Read the requirements . Requirement 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) Begin with the flexible budget columns, then the sales volume variance column. Label each variance as favorable (F) or unfavorable (U). (For variances with a 50 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Round your answers to the nearest whole dollar.) Actual Flexible-Budget Flexible Budget Variance Results 110.000 Units sold Revenues (sales) $ 687,500 445,000 Variable costs Contribution margin 242,500 159,500 Fixed costs $ 83,000 Operating income - Data table Performance Report, Year Ended December 31, 2020 Actual Flexible-Budget Sales-Volume Results Variances Flexible Budget Variances 110,000 Static Budget 99,000 $ 687,500 445,000 346,500 148,500 Units sold Revenues (sales) Variable costs Contribution margin Fixed costs Operating income 242,500 159,500 198,000 115,000 83,000 $ 83,000 $ Print Done Requirements 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) 2. What are the actual and budgeted selling prices? What are the actual and budgeted variable costs per unit? 3. Review the variances you have calculated and discuss possible causes and potential problems. What is the important lesson learned here? Print DoneStep by Step Solution
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