Chapter 23, Problem S23.3SE

Calculating flexible budget variances

Learning Objective 1

Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 9,000 travel locks for Grant, Inc.

GRANT, INC.

Flexible Budget Performance Report (partial)For the Month Ended April 30,2018
Actual Flexible Budget Flexible

Budget Variance Budget

Units	9.000	(a)		9,000
Sales Revenue	S 126,000	(b)	(c)	$ 108,000
Variable Costs	52,300	(d)	(e)	50,300
Contribution Margin	73,700	(f)	(g)	57,700
Fixed Costs	16,100	(h)	(i)	14,900
Operating Income	$ 57,600	(j)	(k)	$ 42,800