The following in Selling price Total che based on Thomas e provides the Direct Materials (51 ) Director ( unit) Var Overhead (2 ) Variable Operating Expenses ($1 50/unit Total Variable costs Contribution Margin 150.000 103.000 Overhead Operating Expenses COLE Income from Operations repare a flexible budget performance report for the year assuming actual sales were 22.000 units. variances must include the dollar amount as well as identification of whether favorable or unfavorable. (30 points) Variance (F/U) Flexible Budget 22,000 units Actual 22,000 units $ 651,000 $ Units Sales Less Variable costs: Direct Materials Direct labor Variable Overhead Variable Operating Expenses Total Variable Costs Contribution Margin Less Fixed Costs: Overhead Operating Expenses Total Fixed Costs Income from Operations 231.000 168,000 73,500 39.500 512.000 139,000 77,500 12.000 89.500 49.500 1 following information describes a product ants) ct expected to be produced and sold by Hadley Company (15 the produced and Selling price Variable costs Total fixed costs $180 per unit $72 per unit $830,000 Required: (a) Calculate the contribution margin per unit and the contribution margina (b) Calculate the break-even point in dollar sales. Hess Co, manufactures a product that sells for $22 per unit. Total fixed costs are $192,000 and variable costs are $14 per unit. Hess can buy a newer production machine that will increase total fixed costs by $45,600 but variable costs will be decreased by $0.80 per unit. Should Hess buy the new machine? Explain why. (Hint: Calculate break-even for both situations and then compare the results, round all calculations to nearest percent/dollar) (15 points)