Required Information [The following information applies to the questions displayed below.] The fixed budget for 21,500 units of production shows sales of $559,000; variable costs of $64,500; and fixed costs of $142,000. The company's actual sales were 26,500 units at $648,000. Actual variable costs were $113,200 and actual fixed costs were $131,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable

Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 7E: Starburst Inc. has the following items and amounts as part of its master budget at the 10,000-unit...
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Required Information
[The following Information applies to the questions displayed below.]
The fixed budget for 21,500 units of production shows sales of $559,000; varlable costs of $64,500; and fixed costs of
$142,000.
The company's actual sales were 26,500 units at $648,000. Actual variable costs were $113,200 and actual fixed costs were $131,000.
Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each
varlance by selecting favorable, unfavorable, or no variance.)
Contribution margin
Flexible Budget Performance Report
Flexible Budget Actual Results
Variances
Favorable/
Unfavorable
Transcribed Image Text:Required Information [The following Information applies to the questions displayed below.] The fixed budget for 21,500 units of production shows sales of $559,000; varlable costs of $64,500; and fixed costs of $142,000. The company's actual sales were 26,500 units at $648,000. Actual variable costs were $113,200 and actual fixed costs were $131,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no variance.) Contribution margin Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable
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