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Required information
Use the following information for the Quick Study below. (Algo)
[The following information applies to the questions displayed below.]
The fixed budget for 20,300 units of production shows sales of $466,900; variable costs
of $60,900; and fixed costs of $144,000.
QS 21-4 (Algo) Flexible budget performance report LO P1
The company's actual sales were 27,800 units at $595,400. Actual variable costs were $113,500 and
actual fixed costs were $133,000.
Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable.
(Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)
Sales
Variable costs
Contribution margin
Fixed costs
Income
? Answer is not complete.
Flexible Budget Performance Report
Flexible
Budget
Actual
Results
Variances
Favorable/
Unfavorable
$ 25 ? $ 507,500 ? 652500 ?
3 ? 60,900 78300 ?
22 0 446,600 ? 574200 ?
140,000 ? 140,000 140000 ?
$ 22 $ (140,000) $ 306,600 434200 ?