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need help with the last question's calculations. Assume that in October 2 0 2 2 the Schmidt Machinery Company ( Exhibit 1 4 . 1
need help with the last question's calculations. Assume that in October the Schmidt Machinery Company Exhibit manufactured and sold units for $ each. During this month, the company incurred $ total variable costs and $ total fixed costs. The master budget data for the month are as given in Exhibit
Required:
Prepare a flexible budget for the production and sale of units.
Compute for October :
a The sales volume variance, in terms of operating income. Indicate whether this variance was favorable or unfavorable.
b The sales volume variance, in terms of contribution margin. Indicate whether this variance was favorable or unfavorable.
Compute for October :
a The total flexible budget variance. Indicate whether this variance was favorable or unfavorable.
b The total variable cost flexible budget variance. Indicate whether this variance was favorable or unfavorable.
c The total fixed cost flexible budget variance. Indicate whether this variance was favorable or unfavorable.
d The selling price variance. Indicate whether this variance was favorable or unfavorable.needComparison of Actual and Budgeted Operating Income
U denotes an unfavorable effect on operating income.
F denotes a favorable effect on operating income.
Actual fixed factory overhead cost $; actual fixed selling and administrative costs $
Budgeted fixed factory overhead cost $; budgeted fixed selling and administrative costs $
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