Homework Answers
VARIANCE ANALYSIS REPORT
|
Particulars |
Static budget |
Flexible budget |
Actual results |
Static budget variance |
Flexible budget variance |
Sales Volume Variance |
|
Units sold |
20,000 |
21,000 |
21,000 |
1000 F |
- |
1,000 |
|
Sales |
$2,000,000 |
$2,100,000 |
$2,184,000 |
$ 184,000 F |
$84,000 F |
$ 100,000 F |
|
Less: Variable costs |
$1,280,000 |
$1,344,000 |
$1,260,000 |
$20,000 F |
$ 84,000 F |
$ 64,000 U |
|
Contribution margin |
$720,000 |
$756,000 |
$924,000 |
$204,000 F |
$ 168,000 F |
$ 36,000 F |
|
Less: Fixed costs |
$600,000 |
$600,000 |
$570,000 |
$30,000 F |
$30,000 F |
- |
|
Operating Income |
$120,000 |
$156,000 |
$354,000 |
$234,000 F |
$ 198,000 F |
$ 36,000 F |
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