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The Beekman Company produces engine parts for car manufacturers. A new accountant intern at Beekman has accidentally deleted the calculations on the company's variance
The Beekman Company produces engine parts for car manufacturers. A new accountant intern at Beekman has accidentally deleted the calculations on the company's variance analysis calculations for the year ended December 31, 2017. The following table is what remains of the data. (Click the icon to view the data.) Read the requirements. Data Table Requirements Performance Report Year Ended December 31, 2017 Actual Flexible-Budget Results Variances Flexible Budget Sales-Volume Static Variances Budget 100,000 94,000 Units sold Revenues (sales) $ 650,000 338,400 Variable costs 460,000 169,200 Contribution margin 190,000 169,200 105,800 85,000 Fixed costs $ 84,200 $ 84,200 Operating income Print Done 1. Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.) 2. What are the actual and budgeted selling prices? What are the actual and budgeted variable costs per unit? 3. Review the variances you have calculated and discuss possible causes and potential problems. What is the important lesson learned here? Print Done zero,
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