CALCULATOR PRINTER VERSION BACK NE Question 1 Concord Entertainment Corporation prepared a master budget for the month of November that was based on sales of 153,100 board games. The budgeted income statement for the period is as follows. Sales Revenue $2,449,600 Variable expenses $765,500 306,200 474,610 Direct materials Direct labor Variable overhead Total variable expenses Contribution margin 1,546,310 903,290 251,700 502,500 Fixed overhead Fixed selling and administrative expenses Total fixed expenses Operating income 754,200 $149,090 During November, Concord produced and sold 186,100 board games. Actual results for the month are as follows. Sales Revenue Variable expenses $2,967,300 Direct materials Direct labor Variable overhead $919,800 385,800 588,010 Total variable expenses Contribution margin 1,893,610 1,073,690 Fixed overhead 273,800 Fixed selling and administrative expenses 502,500 776,300 Total fixed expenses Operating income $297,390