Homework Answers
| Actual Results | Flexible Budget Variance | Flexible Budget | Sales Volume Variance | Static Budget | |||
| Unit sales | 3100 | 0 | Not Applicable | 3100 | 100 | F | 3000 |
| Sales | (3100*$859)= $2662900 | (2507900-2662900)= 155000 | F | (3100*$809)= $2507900 | (2427000-2507900)= 80900 | F | (3000*$809)= $2427000 |
| Less: Variable expenses | |||||||
| Direct materials | 1036300 | (1047800-1036300)= 11500 | F | (3100*$338)= 1047800 | (1014000-1047800)= 33800 | U | (3000*$338)= 1014000 |
| Direct labor | 453800 | (480500-453800)= 26700 | F | (3100*$155)= 480500 | (465000-480500)= 15500 | U | (3000*$155)= 465000 |
| Variable overhead | 399400 | (387500-399400)= 11900 | U | ($35+30+60)*3100= 387500 | (375000-387500)= 12500 | U | ($35+30+60)*3000= 375000 |
| Total variable expenses | (1889500) | 26300 | F | (1915800) | 61800 | U | (1854000) |
| Contribution margin | 773400 | 181300 | F | 592100 | 19100 | F | 573000 |
| Fixed overhead | (120870) | (113570-120870)= 7300 | U | (113570) | 0 | Not Applicable | (113570) |
| Net operating income | $652530 | 174000 | F | $478530 | 19100 | F | $459430 |
Fixed overhead of flexible and static budget= $18610+39800+25870+29290= $113570
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