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The Beekman Company produces engine parts for car manufacturers. A new accountant intern at Beekman has accidentally deleted the company's variance analysis calculations for the
The Beekman Company produces engine parts for car manufacturers. A new accountant intern at Beekman 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. (Click the icon to view the data.) Read the requirements. 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.) Actual Flexible Flexible-Budget Variance Budget - X Results 104,000 Data table 0 Units sold Revenues (sales) $ 676,000 470.000 Variable costs Contribution margin 206.000 136,800 Performance Report, Year Ended December 31, 2020 Actual Flexible-Budget Sales-Volume Results Variances Flexible Budget Variances 104,000 Static Budget 94,000 Fixed costs Units sold $ 69,200 Operating income Revenues (sales) $ $ 676,000 470,000 319,600 150,400 Variable costs Contribution margin Fixed costs 206,000 136,800 169,200 100,000 $ 69,200 $ 69.200 Operating income Print Done
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