The following information is available regarding X Company' utility costs in 2020: Estimated 3,100 production units Budgeted $20,000 fixed costs Budgeted total variable $20,305 costs Actual 2,900 production units Actual $30,963 total costs 6. What was the static budget for total utility costs in 2020? A: B: C: D: E: F: $9,342 $18,995 $20,305 $30,963 $38,995 $40,305 Submit Answer Tries 0/99 7. What was the flexible budget variance for total utility costs in 2020? [Assume that a positive number means a favorable variance and a negative number means an unfavorable variance.) B: A: c: D: E: F: $8,032 $9,397 $10,995 $12,864 $15,051 $17,610 Submit Answer Tries 0/99 X Company, a merchandising company, had the following transactions during 2020: Received $8,636 from new owners. Purchased $8,632 worth of merchandise on account from suppliers. Sold merchandise on account to customers for $11,513; the merchandise cost X Company $8,059. Paid $3,204 to suppliers for merchandise that X Company had previously purchased on account. Collected $3,813 from customers who had previously purchased merchandise on account. Bought equipment for $10,200 with a down payment of $5,766 and a $4,434 loan from the bank. Paid wages of $1,099. Recognized the expiration of $572 of prepaid rent. 8. If total assets at the beginning of 2020 were $13,141, what were total assets at the end of 2020? F: A: B: Oc: D: E: $10,952 $13,690 $17,112 $21,390 $26,738 $33,422 Submit Answer Tries 0/99 9. If total liabilities at the beginning of 2020 were $3,584, what were total liabilities at the end of 2020? A: B: c: D: E: F: $5,715 $7,601 $10,110 $13,446 $17,883 $23,785 Submit Answer Tries 0/99 10. What was Net Income in 2020? Oc: 0 A: B: $1,783 $2,086 $2,441 Submit Answer Tries 0/99 E: F: $3,341 $3,909 $2,856