Work backward to find missing values (Learning Objective 2)

Hanco has a relative range extending to 30,000 units each month. The following performance report provides information about Hanco’s budget and actual perfor¬ mance for April.

Requirement Find the missing data for letters A through F. Be sure to label any variances as favor¬ able or unfavorable. (Hint: A and B are titles.)

HANCO Income Statement Performance Report Month Ended April 30, 2007 Actual Flexible Budget for Actual Number of Static (Master) Prices (A) Output Units (B) Budget 25,000 (C) 30,000 $240,000 $5,000 (F) (D) (E) $ 15,000 (F) $187,000 $ 20,000 Output units Sales revenue Variable cost Fixed cost Operating income Results at Actual (G)