[The following information applies to the questions displayed below] The fixed budget for 21,700 units of production shows sales of $629,300; variable costs of $65,100; and fixed costs of $144,000. The company's actual sales were 26,500 units at $721,500. Actual variable costs were $114,000 and actual fixed costs were $138,000 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 S 0 S Variances Favorable/ Unfavorable
[The following information applies to the questions displayed below] The fixed budget for 21,700 units of production shows sales of $629,300; variable costs of $65,100; and fixed costs of $144,000. The company's actual sales were 26,500 units at $721,500. Actual variable costs were $114,000 and actual fixed costs were $138,000 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 S 0 S Variances Favorable/ Unfavorable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format thanku
![[The following information applies to the questions displayed below]
The fixed budget for 21,700 units of production shows sales of $629,300; variable costs of $65,100; and fixed
costs of $144,000.
The company's actual sales were 26,500 units at $721,500. Actual variable costs were $114,000 and actual fixed costs were
$138,000
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
S
0
0 S
< Prev
S
0
Variances
of 16
---
Favorable/
Unfavorable
Noxt
4](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3777cddf-4970-404f-9b97-0205ff6953f8%2F9c3eddef-738e-4e4d-b46d-f5165ac9aeb8%2Fw1ic9f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below]
The fixed budget for 21,700 units of production shows sales of $629,300; variable costs of $65,100; and fixed
costs of $144,000.
The company's actual sales were 26,500 units at $721,500. Actual variable costs were $114,000 and actual fixed costs were
$138,000
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
S
0
0 S
< Prev
S
0
Variances
of 16
---
Favorable/
Unfavorable
Noxt
4
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