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Clover, Inc. produces the basic fillings used in many popular frozen desserts and treats vanilla and chocolate ice creams, puddings, meringues, and fudge. Clover uses standard coating and carries over no inventory from one month to the next. The ice-cream product group's results for June 2017 were as follows: (Click the icon to view the results.) Read the requirements Requirements 1 and 2. Calculate the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? Break down each static-budget variance into a flexible-budget variance and a sales-valume variance. Begin with the flexible budget colurns, then enter in the sales volume variance and static budget variances. Finally, compute the static budget variance as a percentage of the static budget. Labiel each variance as favorable (F) ar unfavorable (U). (For variances with a $0 balance, make sure to enter "o" in the appropriate field. If the variance is zera, do not select a label. Round dollar amounts to the nearest whole dollar and percentages to two decimal places, X.XX%.) Actual Results 360000 Flexible. Budget Variances Flexible Budget 360000 Data Table Units (pounds) Revenues 1839600 Variable mig, costs 1400400 439200 Contribution margin Requirements 1. Calculate the stalic-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? 2. Break down each static-budget variance into a flexible-budget variance and a Sales-volumne variance. 3. Calculate the selling price variance, 4. Assume the role of management accountant at Clover. How would you present the results to Steve Gosher? Should he be more concemed? If so, why? Performance Report, June 2017 Actual Static Results Budget Units (pounds) 360,000 349,000 Revenues S 1.839.600 S 1,809,600 1,400,400 1,322,400 Variable manufacluring costs S Contribution margin 439,200 S 487,200 Steve Gosher, the business manager for ice-cream products, is pleased that more pounds of ice cream were sold than budgeted and that revenues were up. Unfortunately, variable manufacturing costs went up, too. The bottom line is that contribution margin declined by $48,000, which is less than 3% of the budgeted revenues of $1,809,600. Overall, Gosher feels that the business is running fine. Choose from any list or enter any number in the input fields and then clic Print Done Print Done Help Me Solve This e Text Pages Get More Help