Question 4 - Variance Analysis (5 marks) N Required: The owners can see that the company sold a different amount of units than budgeted. They have asked you to determine the flexible budget amounts and calculate the variances when comparing the flexible budget to the actual results (5 marks). Static Flexible or Flexible Budget Report Variance (show Actual as positive Results amount) Budget Amount Budget Amount Unfavorable (U) 5 6 LO Sales in Units 4,500 4,200 7 7 Sales $ 540,000 500,000 8 Variable Cost 225,000 218,400 9 Contribution Margin 315,000 281,600 10 Fixed Cost 22,000 21,000 260,600 293,000 Net Operating Income 11 12 13 END OF QUESTION 4 14