Quindo Table Company manufactures tables for schools. The 2015 operating budget is based on sales of 44,000 units at $55 per table. Operating income is anticipated to be $220,000. Budgeted variable costs are $35 per unit, while fixed costs total $660,000.

Actual operating income for 2015 was a surprising $477,000 on actual sales of 47,000 units at $57 each. Actual variable costs were $33 per unit and fixed costs totaled $627,000.

Required [18]

Make a variance analysis including both flexible-budget variance and sales-volume variances related to every single element in the Income Statement. Indicate variances either F or U accordingly.

Please use the chart below

I I I I Quindo Table Company manufactures tables for schools. The 2015 operating budget is based on sales of 44,000 units at $55 per table. Operating income is anticipated to be $220,000. Budgeted variable costs are $35 per unit, while xed costs total $660,000. Actual operating income for 2015 was a surprising $477,000 on actual sales of 47,000 units at $57 each. Actual variable costs were $33 per unit and xed costs totaled $627,000. Required [1 8] Prepare a variance analysis with both exible-budget variance and sates-volume variances related to every single element in the Income Statement. Denote variances either F or U accordingly. No workings, no Income Statement Actual Flexible Budget Flexible Sales volume Static Results Variance Budget Variance Budget