From Horngren's Financial & Managerial Accounting: The Managerial Chapters, 8th EditionE-M:8-16 Preparing a flexible budget performance report.Complete the performance report. ARVIN COMPANY Flexible Budget Performance Report For the Year Ended July 31, 2025 Actual ResultsFlexible Budget Var Flexible BudgetSales Vol VarianceStatic Budget Units 39,000 a 39,000 3,000 g Sales Revenue $ 218,000 b $ 218,000 $ 27,000 h Variable Expenses 84,000 c 81,000 10,000 i Contribution Margin $ 134,000 d $ 137,000 $ 17,000 j Fixed Expenses 108,000 e 101,000 - k Operating Income $ 26,000 f $ 36,000 $ 17,000 l Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasoning. Arvin Company managers received the following incomplete performance report:ARVIN COMPANYFlexible Budget Performance ReportFor the Year Ended July 31, 2025FlexibleSalesActual Budget FlexibleResults VarianceVolumeStaticBudgetVarianceBudgetUnits39,000(a)39,0003,000 F(g)Sales Revenue$218,000(b)$ 218,000 $27,000 F(h)Variable Expenses84,000(c)81,00010,000 U(i)Contribution Margin134,000(d)137,00017,000 F(j)Fixed Expenses108,000(e)101,0000(k)Operating Income$ 26,000(f)$ 36,000$ 17,000 F(1)

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Chapter9: Cost Accounting For Service Businesses, The Balanced Scorecard, And Quality Costs

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From Horngren's Financial & Managerial Accounting: The Managerial Chapters, 8th Edition

E-M:8-16 Preparing a flexible budget performance report.

Complete the performance report.

	ARVIN COMPANY
	Flexible Budget Performance Report
	For the Year Ended July 31, 2025
		Actual Results	Flexible Budget Var		Flexible Budget	Sales Vol Variance	Static Budget
	Units	39,000		a	39,000	3,000		g
	Sales Revenue	$ 218,000		b	$ 218,000	$ 27,000		h
	Variable Expenses	84,000		c	81,000	10,000		i
	Contribution Margin	$ 134,000		d	$ 137,000	$ 17,000		j
	Fixed Expenses	108,000		e	101,000	-		k
	Operating Income	$ 26,000		f	$ 36,000	$ 17,000		l

Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasoning.