MY UTEP Chos Practice Probl.. der Ul App Player Ul Application Ch06 Practice Problems - PDR Question 2 of 9 View Policies Current Attempt in Progress: -/1 Concord Entertainment Corporation prepared a master budget for the month of November that was based on sales of 184,900 board games. The budgeted income statement for the period is as follows. Sales Revenue Variable expenses $2,773,500 Direct materials $776,580 Direct labor 443,760 Variable overhead 517.720 Total variable expenses 1,738,060 Contribution margin 1,035,440 Fixed overhead 213,000 Fixed selling and administrative expenses 423,000 Total fixed expenses 636,000 Operating income $399,440 During November, Concord produced and sold 155,200 board games. Actual results for the month are as follows. Sales Revenue Variable expenses $2,245,000 Direct materials $641,240 Direct labor 355,880 Variable overhead 422,660 Total variable expenses 1,419,780 Contribution margin 005,000 34 AM Fri Apr Chos Practice Problems-PDR Question 2 of 9 < > -/1 Contribution margin 1,035.440 Fixed overhead 213,000 Fixed selling and administrative expenses 423,000 Total fixed expenses 636,000 Operating income $399,440 During November, Concord produced and sold 155,200 board games. Actual results for the month are as follows. Sales Revenue Variable expenses Direct materials: $2.245.000 Direct labor $641,240 355,880 Variable overhead 422,660 Total variable expenses 1,419,780 Contribution margin 825,220 Fixed overhead 200,000 Fixed selling and administrative expenses 438,000 Total fixed expenses Operating income 638,000 $187,220 (a-b) (a) Prepare a flexible budget for November. (Round unit answers to 2 decimal places, e.g. 5.25 & all other answers to 0 decimal places, e.g. 125.) Unit 155.200 games 9:34 AM Fri Apr 8 Ch06-Practice Problems-PDR Question 2 of 9 > educationwley.com -/1 31% (a-b) (a) Prepare a flexible budget for November. (Round unit answers to 2 decimal ploces, e.g. 5.25 & all other answers to O decimal places, eg. 125.) 0 $ Unit 155,200 games $ (b) Calculate Concord's static budget variance for November. (Round answers to 0 decimal places, es 125. Enter all variance amounts as positive values. If variance is zero, select "Not Applicable" and enter O for the amounts.) 9:34 AM Fri Apr 8 Ch06-Practice Problems-PDR Question 2 of 9 30% 1 education wiley.com -1 E (b) Calculate Concord's static budget variance for November. (Round answers to O decimal places, e.g. 125. Enter all variance amounts as positive values. If variance is zero, select "Not Applicable" and enter 0 for the amounts.) Unit Sales 0 eTextbook and Media Save for Later 0 0 $ Actual Results Static Budget Variance $