Answer Happy

Exercise 21-4 (Algo) Preparing flexible budget performance report LO P1 Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $80 per unit and variable costs of $35 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Month Ended June 30 Sales Variable costs Contribution margin Fixed costs Income Flexible Budget (10,900 units) $ $ Flexible Budget Performance Report Actual Results Answer is not complete. 872,000 381,500 490,500 271,000 2,015,000 (10,900 units) $ 849,000 352,000 286,000 Variances $ 23,000 Favorable 29,500 Favorable (15,000) Favorable/Unfavorable Unfavorable