Toyworld manufactures and sells a line of toys. The toys are primarily distributed through department stores. As president of Toyworld, you wanted to analyze Toyworld's profitability. Your capable assistant provided you with the following data: Static/Master Actual Budget Selling price, per unit $20.90 $21.90 Varia manufacturing cost, per unit 11.00 12. 00 Far marketing and administrative expenses, total 9,000- 11,550 d manufacturing cost, total 34,500 36,000 Fixed marketing and administrative expenses, total 40,006 44,000 Sales volume, in units 9,000 10,000 * 5% of sales revenue Required: a) Your assistant has requested you to complete the "Flexible Budget" and "Static/Master Budget" columns of the analysis, reproduced below (She had to attend to an out-of-town emergency): Actual Results Flexible Budget Static/Master Budget Units sold 10,000 $ Revenues (sales) $210,00 S $ Variable expenses: Manufacturing $120, 000 Marketing and administrative 11.550 $131.550 $ Contribution margin $78, 450 Fixed expenses Manufacturing $36,000 Marketing and administrative 44.000 $80,000 Operating income (loss] ($1,550) bj Calculate the following variances: flexible budget variance, sales volume variance, and total static budget variance. Short Answer Toolbar navigation