1. Using only the data given in the problem above, prepare a variance analysis report (Actual Results versus Flexible). Include sales revenue, contribution margin, and Net Operating income.

2. Overall, analyze and rate the entire job for Global Dynamics for the month of January (i.e. great job, good job, average, poor job, etc.) for each of the six main variances (list and label the six main variances and rate each). You should do this by listing the six main variances that are solutions above to #5,6,10,11,15,16. Using responsibility accounting, describe the responsible manager for each of the six variances (production manager, purchasing manager, personnel manager, etc.). Do you think that Shark Tank is satisfied with the performance of your company?

Direct materials per unit: 10 pounds at $20 per pound

Direct labor per unit: 4 hours at $17 per hour

Variable overhead: 4 hours at $10 per hour

Budgeted Fixed advertising expenses: $6000

Budgeted Fixed sales expenses: $8000

Budgeted Fixed shipping expenses: $9000

The planning budget for January 2022 was based on producing and selling 1000 units. However, during January, the company actually produced and sold 1100 units, at a selling price of $600 per unit, and incurred the following costs:

1. Purchased 10,200 pounds of direct materials at a cost of $19 per pound. All of this material was used in production.
2. Direct laborers worked 4,300 hours at a rate of $16.00 per hour
3. Total variable manufacturing overhead for the month was $49,000
4. ACTUAL fixed costs: Total fixed advertising expenses were $7,000. Total fixed sales expenses were $8,000. Total fixed shipping expenses were $9,900.