Solve for Part D of the problem

Crane Entertainment Corporation prepared a master budget for the month of November that was based on sales of 195,000 board games. The budgeted income statement for the period is as follows. Sales Revenue $2,925,000 Variable expenses Direct materials $780,000 Direct labor 292,500 Variable overhead 487,500 Total variable expenses 1,560,000 Contribution margin 1,365,000 Fixed overhead 210,000 Fixed selling and administrative expenses 420,000 Total fixed expenses 630,000 Operating income $735,000 During November, Crane produced and sold 180,000 board games. Actual results for the month are as follows. Sales Revenue $2,620,000 Variable expenses Direct materials $710,000 Direct labor 257,000 Variable overhead 440,000 Total variable expenses 1,407,000 Contribution margin 1,213,000 Fixed overhead 197,000 Fixed selling and administrative expenses 435,000 Total fixed expenses 632,000 Operating income $581,000 (a-b) Your Answer Correct Answer Your answer is correct. (a) Prepare a flexible budget for November. (Round unit answers to 2 decimal places, eg. 5.25 & all other answers to decimal places, eg. 125.) Unit 180,000 games Sales revenue 15 2700000 Less Variable expenses Direct material 720000 Direct labor V 1.50 270000 Variable overhead 2.50 450000 Total variable expenses V 8 1440000 1260000 Contribution marein Less Fixed expenses Overhead 210000 Selling and administrative 420000 Total fixed expenses V 630000 Operating income 630000 (b) Calculate Crane's static budget variance for November. (Round answers to decimal places, eg. 125. Enter all variance amounts as positive values. If variance is zero, select "Not Applicable" and enter for the amounts.) Actual Results Static Budget Variai Unit Sales 180000 1501 Sales revenue V $ 2620000 30501 Less V Variable expenses Direct material 710000 7001 Direct labor 257000 i 3551 Variable overhead V 440000 4751 Total variable expenses 1407000 15301 Contribution margin 1213000 15201 Less V Fixed expenses Overhead 197000 1301 Selling and administrative 435000 Total foxed expenses V 632000 i -201 Operatine income 581000 15401 e Textbook and Media Solution Attempts: 3 of 3 used (d) Based on the available information, prepare a performance report for management. (If variance is zero, select "Not Applicable and enter for the amounts.) Actual Results Flexible Budget Variance Unit Sales Less Less $ eTextbook and Media Save for Later Last saved 18 minutes ago Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: 0 of 3 used Submit Answer Crane Entertainment Corporation prepared a master budget for the month of November that was based on sales of 195,000 board games. The budgeted income statement for the period is as follows. Sales Revenue $2,925,000 Variable expenses Direct materials $780,000 Direct labor 292,500 Variable overhead 487,500 Total variable expenses 1,560,000 Contribution margin 1,365,000 Fixed overhead 210,000 Fixed selling and administrative expenses 420,000 Total fixed expenses 630,000 Operating income $735,000 During November, Crane produced and sold 180,000 board games. Actual results for the month are as follows. Sales Revenue $2,620,000 Variable expenses Direct materials $710,000 Direct labor 257,000 Variable overhead 440,000 Total variable expenses 1,407,000 Contribution margin 1,213,000 Fixed overhead 197,000 Fixed selling and administrative expenses 435,000 Total fixed expenses 632,000 Operating income $581,000 (a-b) Your Answer Correct Answer Your answer is correct. (a) Prepare a flexible budget for November. (Round unit answers to 2 decimal places, eg. 5.25 & all other answers to decimal places, eg. 125.) Unit 180,000 games Sales revenue 15 2700000 Less Variable expenses Direct material 720000 Direct labor V 1.50 270000 Variable overhead 2.50 450000 Total variable expenses V 8 1440000 1260000 Contribution marein Less Fixed expenses Overhead 210000 Selling and administrative 420000 Total fixed expenses V 630000 Operating income 630000 (b) Calculate Crane's static budget variance for November. (Round answers to decimal places, eg. 125. Enter all variance amounts as positive values. If variance is zero, select "Not Applicable" and enter for the amounts.) Actual Results Static Budget Variai Unit Sales 180000 1501 Sales revenue V $ 2620000 30501 Less V Variable expenses Direct material 710000 7001 Direct labor 257000 i 3551 Variable overhead V 440000 4751 Total variable expenses 1407000 15301 Contribution margin 1213000 15201 Less V Fixed expenses Overhead 197000 1301 Selling and administrative 435000 Total foxed expenses V 632000 i -201 Operatine income 581000 15401 e Textbook and Media Solution Attempts: 3 of 3 used (d) Based on the available information, prepare a performance report for management. (If variance is zero, select "Not Applicable and enter for the amounts.) Actual Results Flexible Budget Variance Unit Sales Less Less $ eTextbook and Media Save for Later Last saved 18 minutes ago Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: 0 of 3 used Submit