Question
= Lanco Industries has a relevant range extending to 30,200 units each month. The following performance report provides information about Lanco's budget and actual performance
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Lanco Industries has a relevant range extending to 30,200 units each month. The following performance report provides information about Lanco's budget and actual performance for June. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Lanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 Flexible budget Flexible Actual variance Budget Volume Variance Output units 24,000 Master Budget 30,200 Sales revenue $ 226,000 $ 5,200 Less: Variable expenses 170,400 Contribution margin Less: Fixed expenses Operating income Data table F Lanco Industries 193,280 3 Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended June 30 24,500 Flexible budget Actual variance Flexible Budget Volume Variance Master Budget 5 Output units 24,000 ? 30,200 6 Sales revenue $ 226,000 $5,200 F ? ? ? 7 Less: Variable expenses 170,400 ? ? $ 193,280 8 Contribution margin ? ? ? ? 9 Less: Fixed expenses 19,000 24,500 10 Operating income ? ? ? ? ? Print Done
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