Question: Graham Corporation used the following data evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of
Graham Corporation used the following data evaluate its current operating system. The company sells items for $10 each and used a budgeted selling price of $10 per unit. Actual Budgeted Units sold 495,000 units 500,000 units Variable costs $ 1,250,000 $ 1,500,000 Fixed costs S 925,000 $ 900,000 a. Prepare the actual oncome statement, flexible budget, and static budget b. What is the static budget variance of revenue? c. What is the flexible budget variance for variable costs? d. What is the flexible budget variance for fixed costs
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