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AllTalk Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2018 flexible budget shows output levels of 8,500, 10,000, and 12,000 units. The static budget was based on expected sales of 10,000 units. The company sold 12,000 units during July. Its flexible budget and actual operating income was as follows: (Click the icon to view the flexible budget.) (Click the icon to view the income statement.) Read the requirements. Requirement 1. Prepare a flexible budget performance report for July (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F) Unfavorable (U) input blank.) AllTalk Technologies Flexible Budget Performance Report For the Month Ended July 31, 2018 2 (3) - (5) Budget Amounts Per Unit (1)-(3) Flexible Budget Variance Actual Results 12000 Flexible Budget 12000 Sales Volume Variance Static Budget 10000 Units Sales Budget Amounts Per Unit Flexible Budget Volume Variance Actual Results 12000 276000 Flexible Budget 12000 Variance Static Budget 10000 D 2 3 Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income i Data Table AllTalk Technologies Flexible Budget For the Month Ended July 31, 2018 Budget Amount per Unit 23 $ Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses 8.500 195,500 $ 93,500 10,000 230,000 $ 110.000 12.000 276,000 132,000 11 102,000 56,000 46,000 $ 120,000 56,000 64,000 $ 144,000 56,000 88,000 Operating Income Print Done i Data Table AllTalk Technologies Income Statement For the Month Ended July 31, 2018 Sales Revenue $ 283,000 Variable Expenses 137,100 Contribution Margin 145,900 Fixed Expenses 57,500 Operating Income $ 88,400 Print Done Requirements 1. Prepare a flexible budget performance report for July 2. What was the effect on AllTalk's operating income of selling 2,000 units more than the static budget level of sales? 3. What is AllTalk's static budget variance for operating income? 4. Explain why the flexible budget performance report provides more useful information to AllTalk's managers than the simple static budget variance. What insights can AllTalk's managers draw from this performance report? Print Done AllTalk Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2018 flexible budget shows output levels of 8,500, 10,000, and 12,000 units. The static budget was based on expected sales of 10,000 units. The company sold 12,000 units during July. Its flexible budget and actual operating income was as follows: (Click the icon to view the flexible budget.) (Click the icon to view the income statement.) Read the requirements. Requirement 1. Prepare a flexible budget performance report for July (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F) Unfavorable (U) input blank.) AllTalk Technologies Flexible Budget Performance Report For the Month Ended July 31, 2018 2 (3) - (5) Budget Amounts Per Unit (1)-(3) Flexible Budget Variance Actual Results 12000 Flexible Budget 12000 Sales Volume Variance Static Budget 10000 Units Sales Budget Amounts Per Unit Flexible Budget Volume Variance Actual Results 12000 276000 Flexible Budget 12000 Variance Static Budget 10000 D 2 3 Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income i Data Table AllTalk Technologies Flexible Budget For the Month Ended July 31, 2018 Budget Amount per Unit 23 $ Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses 8.500 195,500 $ 93,500 10,000 230,000 $ 110.000 12.000 276,000 132,000 11 102,000 56,000 46,000 $ 120,000 56,000 64,000 $ 144,000 56,000 88,000 Operating Income Print Done i Data Table AllTalk Technologies Income Statement For the Month Ended July 31, 2018 Sales Revenue $ 283,000 Variable Expenses 137,100 Contribution Margin 145,900 Fixed Expenses 57,500 Operating Income $ 88,400 Print Done Requirements 1. Prepare a flexible budget performance report for July 2. What was the effect on AllTalk's operating income of selling 2,000 units more than the static budget level of sales? 3. What is AllTalk's static budget variance for operating income? 4. Explain why the flexible budget performance report provides more useful information to AllTalk's managers than the simple static budget variance. What insights can AllTalk's managers draw from this performance report? Print Done