Performance Report
Year Ended December 31, 2017
	Actual	Flexible-Budget	Flexible	Sales-Volume	Static
	Results	Variances	Budget	Variances	Budget
Units sold	108,000				99,000
Revenues (sales)	$702,000				$420,750
Variable costs	430,000				237,600
Contribution margin	272,000				183,150
Fixed costs	193,850				105,000
Operating income	$78,150				$78,150

The Beekman Company produces engine parts for car manufacturers. A new accountant intern at Beekman has accidentally deleted the calculations on the company's variance analysis calculations for the year ended December 31, 2017.

Requirement 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.)

Begin with the flexible budget columns, then the sales volume variance column. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Round your answers to the nearest whole dollar.)

	Actual Results	Flexible- Budget Variance	Favorable / Unfavorable	Flexible Budget
Units Sold	108,000
Revenue (Sales)	$702,000
Variable Cost	430,000
Contribution Margin	272,000
Fixed Cost	193,850
Operating Income	78,150