Part $1$

Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for $7000$ travel locks for Gordon comma Inc. Gordon, Inc.

Flexible Budget Performance Report $($partial$)$

For the Month Ended April $30,2018$

Actual Results

Flexible Budget Variance

Flexible Budget

Units

$7,000$

$($a$)$

$7,000$

Sales Revenue

$$133,000$

$($b$)$

$($c$)$

$$119,000$

Variable Costs

$51,500$

$($d$)$

$($e$)$

$50,000$

Contribution Margin

$81,500$

$($f$)$

$($g$)$

$69,000$

Fixed Costs

$15,600$

$($h$)$

$($i$)$

$15,200$

Operating Income

$$65,900$

$($j$)$

$($k$)$

$$53,800$

$($For variances with a$$ $$0$ value, make sure to enter$"0"$ in the appropriate$$ cells.$)$

Gordon, Inc.

Flexible Budget Performance Report $($partial$)$

For the Month Ended April $30,2018$

Actual

Flexible Budget

Flexible

Results

Variance

Budget

Units

$7,000$

$7,000$

Sales Revenue

$$133,000$

$$119,000$

Variable Costs

$51,500$

$50,000$

Contribution Margin

$81,500$

$69,000$

Fixed Costs

$15,600$

$15,200$

Operating Income

$$65,900$

$$53,800$