WXY Corporation manufactures lambs Here below static budget and actual results are presented Actual Results as of Dec,31,2011 Static Budget as of Jan,01,2011 Units sold 184 000 units 180 000 units Revenues $1 840 000 $1 800 000 Variable costs $901 600 $864 000 Fixed costs $190 000 $200 000 Required...

Units sold 180000 181000 182000 183000 184000 Revenues 1800000 1810000 1820000 1830000 1840000 Varia ...

WXY Corporation manufactures lambs. Here below static budget and actual results are presented; Actual Results as of

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WXY Corporation manufactures lambs. Here below static budget and actual results are presented;

	Actual Results as of Dec,31,2011	Static Budget as of Jan,01,2011
Units sold	184.000 units	180.000 units
Revenues	$1.840.000	$1.800.000
Variable costs	$901.600	$864.000
Fixed costs	$190.000	$200.000

Required:

1. Please prepare five column income statement performance report.

2. Discuss the advantages of using flexible budgets in detail. Describe the purpose of variance analysis and its relation to responsibility management by using examples.