Feedback to print to inte Timer Notes Evaluate In this problem, you must create the flexible budget and flexible budget variances for two cost items. 1. Before you compute the variance, you must identify the parameters of the cost functions (le, the fixed cost and the variable cost per unit). 2. Be careful to use the correct activity measure. 3. Read the directions about the sign that you should enter. Pour Flags is a retail department store on January 1, 2019, Four Flags accountants used the following data to develop the master budget for Four Flags for 2019 Cost Fixed Variable (per sales dollar) Cost of Goods Sold 50 $0.540 Selling and Promotion Expense $215,000 30.080 Building Occupancy Expense $185,000 30.010 Buying Expense $145,000 $0.050 Delivery Expense $110,000 $0.010 Credit and Collection Expense $62,000 $0.002 Expected unit sales in 2019 were 1,200,000, and 2019 total revenue was expected to be $12,000,000. Actual 2019 unit sales turned out to be 1,000,000, and total revenue was $10,000,000. Actual total costs in 2019 were: $6,000,000 Cost of Goods Sold Selling and Promotion Expense Building Occupancy Expense Buying Expense Delivery Expense Credit and Collection Expense $900,000 $320,000 $580,000 $160,000 $40,000 Required Compute the flexible budget variances in 2019 for the following two cost items (NOTE: enter favorable variances as positive numbers and unfavorable variances as negative numbers): Cost of Goods Sold Buying Expense Submit Answer Tries 0/B