Question 89 XYZ manufactures a single product which has a standard selling price of $22 per unit. It operates a standard marginal costing system. The standard variable production cost is $9 per unit. Budgeted annual production is 360,000 units and budgeted non-production cost is $1,152,000 per year which is fixed. The following data are related to last month: Budgeted Units Actual Units Production 30,000 33,000 Sales 32,000 34,000 The budgeted profit in the last month was $200,000 and the actual sales revenue was $731,000. Required: (1) Calculate the sales price and sales volume contribution variances for the last month and show clearly whether each variance is favorable or adverse. (2) Calculate the BUDGETED PROFIT for the last month assuming that the company was using absorption costing