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Please answer ASAP Combined Metal Industries is a leading and innovative recycler and distributor of metal products. Since 2005, the company has been using the

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Please answer ASAP

Combined Metal Industries is a leading and innovative recycler and distributor of metal products. Since 2005, the company has been using the flexible budgets to control its selling and administrative expenses. In particular, for 2019, the relevant range for the monthly sales is set from $750,000 to $800,000. The variable costs consist of sales commissions (6% of sales), promotions (4% of sales), distribution (8% of sales) and printing costs (2% of sales). The monthly fixed selling expenses consist of the salespersons wages $80,000 and rent of the showroom $17,000. During the month of October 2019, the company incurred the following selling expenses: Selling commissions Promotions Distribution Printing costs Salespersons wages Rent of showroom $48,250 32,300 61,420 14,800 82,500 17,000 Instructions Given that the actual sales for October 2019 are $780,000, prepare a flexible budget performance report for the selling expenses. FGF Brands is one of the world's leading teams of engineers, food scientists, chefs and bakers who create wholesome, natural, high-quality foods and bring them to market with incredible speed and scale. As a part of the new initiative for improving the control over operations, the CFO of the company was wondering whether she should implement the flexible budgeting system. The variable costs include direct materials $3 per unit, direct labour $17.50 per unit, and manufacturing overhead 56 per unit. The fixed costs include depreciation $250,000 and administrative $393,500. Instructions (a) The CFO asks you to prepare a flexible budget for each of the possible production levels: 80,000, 95,000, and 110,000 units. (6 marks) (b) In addition, the CFO asks you to explain what the difference between ideal standards and normal standards is. (2 marks)

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