Question: please help! Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1 Complete the following partial flexible budget performance report, and indicate whether each variance
Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1 Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $80 per unit and variable costs of $36 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended June 30 Sales Variable costs Contribution margin Fixed costs Income $ Answer is complete but not entirely correct. Flexible Budget (11,500 units) $ Flexible Budget Performance Report Actual Results Variances 920,000 414,000 506,000 277,000 229,000 $ (11,500 units) $ 885,000 $ 35,000 Favorable 358,000 358,000 Favorable 527,000 (21,000) Unfavorable Favorable/Unfavorable 292,000 (15,000) 235,000 $ (6,000) Unfavorable Unfavorable
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