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Data Table EXAMPLE Cellular Technologies Income Statement For the Month Ended July 31, 2018 Sales Revenue $ 260,000 Variable Expenses 159,200 Contribution Margin 100,800 Fixed Expenses 51,000 49,800 Operating Income $ Print Done Requirements EXAMPLE 1. Prepare a flexible budget performance report for July. 2. What was the effect on Cellular's operating income of selling 2,000 units more than the static budget level of sales? 3. What is Cellular's static budget variance for operating income? 4. Explain why the flexible budget performance report provides more useful information to Cellular's managers than the simple static budget variance. What insights can Cellular's managers draw from this performance report? Print Done P23-25A (similar to) Question Help NetTech Technologies manufactures capacitors for cellular base stations and other communications anplications. The company's July 2012 flexible budget shows output levels of 4,500, 10,000, and 12,000 units. The static budget was haser an expected sales af 10.000 units. The company suld 12,000 units during July. His flexible budget and actual operating incoine was as follows: Click the loon to view the flexible budget) (Click the Icon to view the income statement.) Read the quirements PLEASE SOLVE THIS Data Table Requirement 1. Prepare a flexible budget performance report for July. {Enter a "O" for any zero balances. For any S0 variances, leave the Favorable (F/Unterworable 0) Input blank NetTech Technologies Data Table Flexible Budget Performance Report For the Month Ended July 31, 2018 1 2 3 4 5 NetTech Technologies (1)-(3) (3) - (5) Flexible Budget Budget Flexible Sales For the Month Ended July 31, 2018 Amounts Actual Budget Flexible Volume Statie Budget Per Unit Results Variance Budget Variance Budget Amount Units Sales Revenue Units 8,500 Verlebie Expenses Sales Revenue s 25 S 212,500 $ Contribution Margin Variable Expenses 12 102,000 Fixed Expenses N Contribution Marpin 110,500 Operating Income Fixed Expenses 53,000 S Operating Income 57,500 $ Requirements NetTech Technologies Income Statement For the Month Ended July 31, 2018 Sains Revenue $ 307.000 149.100 Variable Expenses Contribution Margin 157 900 Fixed Expenses 54.500 Operating Income 103.400 per Unit 10,000 250,000 $ 120,000 12,000 300,000 144,000 3 Print Done 130,000 158,000 53,000 53,000 77,000 $ 109,000 Print Done 1. Prepare a flexible budget performance report for July 2. What was the effect on NelTechis operaling income of selling 2,000 units more than the static budget level of sales? 3. What is NelTechie stalic budget variance for operating incoine? 4. Explain why the flexible budget performance report provides irare useful information to Ne.Tech's manager than the simple stalic budget variance. What insights can NetTech's managers draw from this performance report? ? Clear All Check Answer P23-25A (similar to) Question Help Cellular Technologies manufactures capacitors for cellular base stations and other communications spolications. The company's July 2018 flexible budget shows output levels of 7,500. 9.000, and 11.000 units. The static budget was based on expected sales of 9.000 units. The company sold 11,000 units during July Its Mexble budget and actual operating income was as follows: Click the icon to view the flexible buget.) (Click the icon to view the income statement) EXAMPLE Read the requirements 4 Requirement 1. Prepare a flexible budget performance report for July (Enter a 'r' for any zero balances. For any Si variances, love the favorable (FXuntavorable (U) input blank.) Callutar Technologies Flexible Budget Performance Report For the Month Ended July 31, 2018 1 2 3 5 (1)-(3) (3) - (51 Budget Flexible Sales Amounts Actual Budget Flexible Volume Static Per Unit Results Variance Budget Variance Budget Units 11,000 11,000 0.000 Sales Revenue S DES 2 23 S 260,000 $ 7.000 F S 253,000's 46,000 F $ 207.000 Variabia Exness 14 159,200 154.000 126.000 Contribution Margin 100,800 1.800 F 18,000 F 81.000 1.000 Fixed Expenses 50.000 S 49.800$ Operating Income 400 49,000'S 18.000 $ 31.000 5.200 U 28.000 51.000 50.000 Sales Volume Variance Flexible Budget Varianon S BOD'F' S 18.000 Slatic Budget Variance 18.800 Ft $ Requirement 2. What was the effect on Cellular's operating income of selling 2,000 units more than the static budget level of sales? Selling 2,000 units more than the static budget level of sales increased Cellular's operating income by $ 18,000). Requirement 3. What is Cellular's static budget variance for operating income? Cellular's static budget variance is $ 18,800 favorable meaning that its operating income is higher than expected per the static budget. EXAMPLE Requirement 4. Explain why the flexible budget performance report provides more useful information to Cellular's managers than the simple static budget variance. What insights can Cellular's managers draw from this performance report? Choose two reasons why the flexible budget performance report provides Cellular's managers with more information than the simple static budget variance. A favorable sales volume variance reveals whether profits increased due to more units being sold. A favorable sales revenue flexible budget variance means the sale price was higher than planned. These variances suggest that the marketing department did a good job. They sold more units than expected and sold them at a higher price than expected. Data Table EXAMPLE Cellular Technologies Flexible Budget For the Month Ended July 31, 2018 Budget Amount per Unit Units 7,500 9,000 11,000 Sales Revenue $ 23 $ 172,500 $ 105,000 207,000 $ 126,000 253,000 154,000 14 Variable Expenses Contribution Margin 67,500 50,000 81,000 50,000 99,000 50,000 Fixed Expenses 17,500 $ 31,000 $ 49,000 Operating Income Print Done