The Amherst Company produces engine parts for car manufacturers. A new accountant intern at Amherst has

Begin with the tlexible budget columns, then the sales volume variance column. Label each variance as

favorable $(F)$ or unfavorable $(U).($For variances with a $$0$ balance, make sure to enter $"0"$ in the appropriate field.

If the variance is zero, do not select a label. Round your answers to the nearest whole dollar.$)$The Amherst Company produces engine parts for car manufacturers. A new accountant intern at Amherst has accidentally deleted the$$ company's variance analysis calculations for the year ended December$31,2020.$ The following table is what remains of the data. Performance Report, Year Ended December $31,2020$

Actual Results

Flexible$-$Budget Variances

Flexible Budget

Sales$-$Volume Variances

Static Budget

Units sold

$106,000$

$90,000$

Revenues $($sales$)$

$$683,700$

$$306,000$

Variable costs

$470,000$

$198,000$

Contribution margin

$213,700$

$108,000$

Fixed costs

$200,700$

$95,000$

Operating income

$$13,000$

$$13,0001.$

Calculate all the required variances.$($If your work is$$ accurate, you will find that the total$$ static$-$budget variance is$$ $$0.)$

$2.$

What are the actual and budgeted selling$$ prices? What are the actual and budgeted variable costs per$$ unit?

$3.$

Review the variances you have calculated and discuss possible causes and potential problems. What is the important lesson learned$$ here? Requirement $1.$ Calculate all the required variances.$($If your work is$$ accurate, you will find that the total$$ static$-$budget variance is$$ $$0.)$

Begin with the flexible budget$$ columns, then the sales volume variance column. Label each variance as favorable$($F$)$ or unfavorable$($U$).($For variances with a$$ $$0$ balance, make sure to enter$"0"$ in the appropriate field. If the variance is$$ zero, do not select a label. Round your answers to the nearest whole$$ dollar.$)$