Requirement 1: Prepare a flexible budget based on the actual number of recliners sold. (round budget amounts per unit to the nearest cent.)

Smith Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Smith allocates overhead based on yards of direct materials. The company's performance report includes the fo data (Click the icon to view the selected data.) Data Table Read the requirements Budget Amounts per Unit Static Budget (1,000 recliners) Actual Results (980 recliners) Sales (1,000 recliners x S 515 each 515,000 Actual Units (Recliners) Sales Revenue Variable Manufacturing Costs: (980 recliners x S 495 each) 485,100 Variable Manufacturing Costs: Direct Materials (6,000 yds.S 8.60 /yd.) (6,143 yds. S 8.40 /yd.) (10,000 DLHr S 9.10/DLHr) (9,600 DLHr 9.20 /DLHr) (6,000 yds.S 5.00 Iyd.) (6,143 yds.$ 6.40 /yd.) 51,600 Direct Materials Direct Labor Variable Overhead 51,601 Direct Labor 91,000 88,320 Fixed Manufacturing Costs: Variable Overhead 30,000 Fixed Overhead Total Cost of Goods Sold Gross Profit 39,315 Fixed Manufacturing Costs: Fixed Overhead Total Cost of Goods Sold Gross Profit 60,000 232,600 282,400 $ 62,000 241,236 243,864 Choose from any list or enter any number in the input fields and then continue to the next