The Putnam Company produces engine parts for car manufacturers. A new accountant intern at Putnam has accidentally deleted the calculations on the company's variance analysis calculations for the year ended December 31, 2017. The following table is what remains of the data E: (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) Flexible Actual Results 100,000 Flexible-Budget Variance Budget Units sold Revenues (sales) $ 650,000 460,000 Variable costs Contribution margin Fixed costs 190,000 154,400 35,600 Operating income Choose from any list or enter any number in the input fields and then click Check Answer. 2 O parts remaining Clear All Check Answer Type here to search 09 S Omule Lumpur J of the data wiew the data.) mulate all the required variances. (If your work is accurate, you will find that the total static budget columns than the sales volume variance column Label aach variance as favora i Requirements 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is SO.) 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? Print Done list or enter any number in the input fields and then click Check Answer. Clear All Check Answer e here to search I B I P . i Data Table Performance Report Year Ended December 31, 2017 Flexible-Budget Flexible Variances Budget Actual Results 100,000 Sales-Volume Variances Static Budget 91,000 Units sold Revenues (sales) $ $ 650,000 460,000 373,100 227,500 Variable costs Contribution margin 145,600 110,000 Fixed costs 190,000 154,400 35,600 35,600 Operating income Print Done Choose rom any list or enter any number in the input terds and then click Check Answer Check Answer Clear All 8 Pemaining O Type here to search