!Required informationUse the following information for the Quick Study below. (Algo)[The following information applies to the questions displayed below.]The fixed budget for 20,400 units of production shows sales of $469,200;variable costs of $61,200; and fixed costs of $144,000.QS 23-4 (Algo) Flexible budget performance report LO P1The company's actual sales were 26,100 units at $555,300. Actual variable costs were $113,300and actual fixed costs were $136,000.Prepare a flexible budget performance report. Indicate whether each variance is favorable orunfavorable.Note: Indicate the effect of each variance by selecting favorable, unfavorable, or novariance.Contribution marginFlexible Budget Performance ReportFlexible Budget Actual ResultsVariancesFavorable orUnfavorable000 $0

Part 2: Explanation:Step 1: Calculating flexible budget amounts- Sales: \( \$469,200 \times…

Answered: ! Required information Use the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 15EA: Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per...

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