Beech Company produced and sold 115,000 units in May. For the level of production in May, budgeted amounts were sales, $1,210,000; variable costs, $835,000; and fixed costs, $270,000. The following actual results are available for May. Sales (115,000 units) Variable costs Fixed costs Actual Results $ 1,183,000 792,500 270,000 Prepare a flexible budget performance report for May. Indicate whether each variance is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Contribution margin BEECH COMPANY Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual Results Variances Favorable or Unfavorable

Beech Company produced and sold 115,000 units in May. For the level of production in May, budgeted amounts were sales, $1,210,000; variable costs, $835,000; and fixed costs, $270,000. The following actual results are available for May. Sales (115,000 units) Variable costs Fixed costs Actual Results $ 1,183,000 792,500 270,000 Prepare a flexible budget performance report for May. Indicate whether each variance is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Contribution margin BEECH COMPANY Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual Results Variances Favorable or Unfavorable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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