The ultica company y produces engine parts for car manu

facturers. A new account and inter at Utica 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.

1. 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?

i Data Table pns for parts for car man Performance Report Year Ended December 31, 2017 Flexible-Budget Flexible Variances Budget Sales-Volume ired variances Actual Results 103,000 Variances Static Budget 98,000 pnter "O then the sales ole dollar) Flexible-Bu Variand Units sold Revenues (sales) 695,250 450,000 401,800 176,400 Variable costs Contribution margin 245 250 119,850 225,400 100,000 Fixed costs 125,400 Operating income $ 125,400 Print Done Print Done Data Table your work the ar Hume van Performance Report Year Ended December 31, 2017 Flexible-Budget Flexible Variances Budget Static Actual Results 103,000 Sales-Volume Variances Budget 98,000 Units sold Revenues (sales) $ 695,250 450,000 401,800 176,400 Variable costs Contribution margin Fred costs Operating income 245,250 119,850 225,400 100,000 $ 125,400 125,400 Print Done elds and then click Check