Exercise 21-4 Preparing a flexible budget performance report LO P1 Xion Co budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $279,000. During June, the company produced and sold 11,700 units and incurred actual variable costs of $360,000 and actual fixed costs of $294,000. Actual sales for June were $975,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) XION CO. Flexible Budget Report For Month Ended June 30 Flexible Budget Actual Results Variances Fav./Unf. Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers. During May, it sold 300 computers at a $1,000 average price each. The May fixed budget Included sales of 350 computers at an average price of $970 each. AQ - Actual Quantity SQ - Standard Quantity AP - Actual Price SP - Standard Price 182. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Actual Sales Flexible Budget Budgeted Sales $ 0 $ 0 0 Exercise 21-4 Preparing a flexible budget performance report LO P1 Xion Co budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $279,000. During June, the company produced and sold 11,700 units and incurred actual variable costs of $360,000 and actual fixed costs of $294,000. Actual sales for June were $975,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) XION CO. Flexible Budget Report For Month Ended June 30 Flexible Budget Actual Results Variances Fav./Unf. Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers. During May, it sold 300 computers at a $1,000 average price each. The May fixed budget Included sales of 350 computers at an average price of $970 each. AQ - Actual Quantity SQ - Standard Quantity AP - Actual Price SP - Standard Price 182. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Actual Sales Flexible Budget Budgeted Sales $ 0 $ 0 0