Submit: Problem Set (PS) Wei X + (- C' i canvasillinoisedu PS Homework #12_Spring 2023.docx NOTE: VOU MUST SHOW ALL CALCULATIONS IN ORDER TO RECEIVE FULL CREDIT! 1. Fixed Budgets, Flexible Budgets and the Flexible Budget Performance Report (3.5pts): VaHo, Inc. reports the following information for March 2023. Budgeted Actual Sales 525 per unit $280,000 total Variable Costs $11 per unit $125,000 total Fixed Costs (total) $108,650 total $108,000 total Units produced and sold 12,000 11,500 a. Prepare a flexible budget for March 2023 at the following levels of activity: 11,000 units; 12,000 units; 13,000 units. (1.5pts) b. Prepare a 'Flexible Budget Performance Report' for March 2023 at the actual level of activity of 11,500 units, showing variances between the flexible budget (@11,500 units) and actual results at 11,500 units. List variable and fixed expenses separately, and indicate variances as favorable (F) or unfavorable (U). (1.5pts) c. Calculate the Sales Price Variance for March 2023. Indicate whether this variance is favorable (F) or unfavorable (U). (0.5pts) 2. Direct Materials (DM) Variances (1.5pts; 0.5pts each variance): Honest Joe, Corp. has set the following standards for direct materials (DM) costs per unit for the good it manufactures: Standard Quantity: 1.8 kg per unit Standard Price: $6.00 per kg During the month of February 2023, the firm incurred the following actual DM costs to produce 10,000 units: Actual Total Quantity: 18,800 total kg Actual Total DM Cost: $111,860 a. Calculate the DM cost variance. Indicate whether this variance is favorable (F) or unfavorable (U). h. Calculate the DM price variance. Indicate whether this variance is favorable (F) or unfavorable (U). c. Calculate the DM quantity variance. Indicate whether this variance is favorable (F) or unfavorable (U). I Submit: Problem Set (PS) Weel X C canvas.illinois.edu/courses/33591/assignments/617805?module_item_id=2346392 PS Homework #12_Spring 2023.docx & Download Info X Close Page