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Just fill in the blanks and answer the short questions thanks Exercise 8-5B Determining flexible budget variances (LO84) Use the standard price and cost data

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Exercise 8-5B Determining flexible budget variances (LO84) Use the standard price and cost data provided in Exercise 8-1B. Assume the actual sales price was S1475 per unit and the actual variable cost was $6.80 per unit. The actual fixed manufacturing cost was $33,500, and the actual selling and administrative expenses were $23,500. Required: a. Determine the flexible budget variances b. Classify the variances as favorable or unfavorable. Actual Price/Cost at a. & b Flexible Budget Flexible Budget 19,000 Units 19,000 Units Variances Sales Variable manufacturing Contribution margin Fixed manufacturing ixed selling and admin Net income c. Provide another name for the fixed cost flexible budget variances d Comment on the usefulness of the variances with respect to performance evaluation and identity the memberts) of the management seams that is Carec) most likely to he respoesible ioe these sariances Exercise 8-5B Determining flexible budget variances (LO84) Use the standard price and cost data provided in Exercise 8-1B. Assume the actual sales price was S1475 per unit and the actual variable cost was $6.80 per unit. The actual fixed manufacturing cost was $33,500, and the actual selling and administrative expenses were $23,500. Required: a. Determine the flexible budget variances b. Classify the variances as favorable or unfavorable. Actual Price/Cost at a. & b Flexible Budget Flexible Budget 19,000 Units 19,000 Units Variances Sales Variable manufacturing Contribution margin Fixed manufacturing ixed selling and admin Net income c. Provide another name for the fixed cost flexible budget variances d Comment on the usefulness of the variances with respect to performance evaluation and identity the memberts) of the management seams that is Carec) most likely to he respoesible ioe these sariances

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