Return to 1 Required information [The following information applies to the questions displayed below.] o x Exhibit 14-4.jpg (689x669) X + 0.66 points As part of its comprehensive planning and control system, Mopar Company uses a master budget and subsequent variance analysis. You are given the following information that pertains to the company's only product, XL-10, for the month of December 0 A https://ezt... Not syncing EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (2) (3) Flexible-Budget Flexible Variances Budget (1) (5) Master (Static Budget Sales Volume Variances Actual Required: 1. Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December. 2. Based on your completed profit report, determine the dollar amount, and label (Favorable or Unfavorable) each of the following variances for December: a. Total master (static) budget variance (also referred to as the total operating income variance for the period). b. Total flexible-budget variance. C. Sales volume variance, in terms of operating income. d. Sales volume variance, in terms of contribution margin. e. Selling price variance. 780 780 Units Sales Variable costs Contribution margin Fixed costs Operating income $639,600 350,950 $288,650 160,650 $120,000 9 $15,600F 50F $15,650F 10.6500 $624,000 351,000 $273,000 150,000 $123,000 2200 $175,000 99,000F $ 77,000U 0 $ 77,000U 1,000 $800,000 450,000 $350,000 150,000 $200,000 $5.000F Answer is not complete. Analysis of Total Operating-Income Variance Complete this question by entering your answers in the tabs below. Total operating income variance = $128,000-$200,000 $72,000U Required 1 Required 2 Flexible-budget variance = $128,000 - $123,000 $5,000F Sales volume variance = $123,000 - $200,000 =$77,0000 Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December. (If a variance has no amount, select corresponding dropdown cell.) Actual results "Budgeted fixed factory overhead cout = $120,000, budgeted fixed selling and administrative expense = $30,000 **Also called the total mare (state) budget variance Note: U denotes an unfavorable effect on operating income, F denotes a favorable effect on operating income Flexible-budget variances Sales volume variances Flexible budget 100,000 $ 500,000 $ Unit sales Sales $ 50,000 Favorable $ 100,000 $ 500,000 375,000 $ 125,000 55,000 $ 70,000 Master (static) budget 90,000 450,000 270,000 180,000 75,000 105,000 0 None 0 None Unfavorable Unfavorable Favorable Unfavorable Variable costs Contribution margin Fixed costs Operating income $ $
