Required information

Use the following information for the Quick Study below. (Algo)

[The following information applies to the questions displayed below.] The fixed budget for 20,600 units of production shows sales of $412,000; variable costs of $61,800; and fixed costs of $141,000.

QS 23-3 (Algo) Flexible budget income calculation LO P1

If the company actually produces and sells 27,300 units, calculate the flexible budget income.

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pt 2

The companys actual sales were 27,300 units at $503,000. Actual variable costs were $113,100 and actual fixed costs were $136,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)