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The fixed budget for 21,600 units of production shows sales of $583,200, variable costs of $64,800, and fixed costs of $143.000 The company's actual sales were 27.600 units at $703.200. Actual variable costs were $113,300 and actual fixed costs were $132.000 Prepare a flexible budget performance report Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)

The fixed budget for 21,600 units of production shows sales of $583,200, variable costs of $64,800, and fixed costs of $143.000 The company's actual sales were 27.600 units at $703.200. Actual variable costs were $113,300 and actual fixed costs were $132.000 Prepare a flexible budget performance report Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)

FINANCIAL ACCOUNTING
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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The fixed budget for 21,600 units of production shows sales of $583,200, variable costs of $64,800; and fixed costs of $143,000 The company's actual sales were 27.600 units at $703.200. Actual variable costs were $113,300 and actual fixed costs were $132.000. Prepare a flexible budget performance report Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Sales Variable costs Contribution margin Fixed costs Income Flexible Budget Performance Report Flexible Budget Actual Results ONDIT S D 0 S Variances Favorable! Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable
Transcribed Image Text:The fixed budget for 21,600 units of production shows sales of $583,200, variable costs of $64,800; and fixed costs of $143,000 The company's actual sales were 27.600 units at $703.200. Actual variable costs were $113,300 and actual fixed costs were $132.000. Prepare a flexible budget performance report Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Sales Variable costs Contribution margin Fixed costs Income Flexible Budget Performance Report Flexible Budget Actual Results ONDIT S D 0 S Variances Favorable! Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable
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