Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Fixed Budget 1,400 $1,300 Actual Results 1,600 $ 2,126,000 Sales (units produced and sold) Sales (in dollars) Variable costs Fixed costs $ 863,000 $ 142,000 For Month Ended May 31 Favorable/Unfavorable Sales Favorable Variable costs Unfavorable Contribution margin Favorable Fixed costs Favorable Income Favorable per unit $ 520 per unit $ 155,000 LEWIS COMPANY Flexible Budget Performance Report Flexible Budget Actual Results (1,600 units) (1,600 units) Variances

AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Variable Fixed Component per Month Component per Job $ 277 Actual Total for February $ 27,720 $ 8,350 $ 8,370 Revenue Technician wages $ 8,500 Mobile lab operating expenses $ 4,900 $ 33 Office expenses $ 2,400 $2 $ 2,470 Advertising expenses $ 1,600 $ 1,670 Insurance $ 2,850 $ 2,850 Miscellaneous expenses $ 960 $ 1 $ 375 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $33 per job, and the actual mobile lab operating expenses for February were $8,370. The company expected to work 110 jobs in February, but actually worked 120 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (Indicate the effect of each variance by selecting "F"…

! Required information [The following information applies to the questions displayed below.] Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,300 units. Sales Costs Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries. Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment Income PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales (18,300 units) Costs Income Direct materials Direct labor Sales staff commissions Depreciation-Machinery Phoenix Company reports the following actual results. Actual sales were 18,300 units. Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-Office equipment $ 3,060,000 979,200 229,500 76,500 300,000 200,000 229,500 250,000 450, 300 192,000 $ 153,000 $ 3,705,750 $ 1,185,840 281,820 82,350 300,000 214,000 266, 265 267,000 458,300…

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Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance; Spreadsheet Application The following information is available for Brownstone Products Company for the month of July:     Actual   Master Budget Units   3,800   4,000 Sales revenue   $53,200   $60,000 Variable manufacturing costs   19,000   16,000 Fixed manufacturing costs   16,000   15,000 Variable selling and administrative expenses   7,700   8,000 Fixed selling and administrative expenses   10,000   9,000 Required What was the total operating income variance for July, rounded to the nearest whole dollar? (Note: This variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable (U)?  Set up a spreadsheet to compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin…

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The following data were collected by Pete Inc. for the month of May: Static budget data: Sales Variable costs Total fixed costs Actual results: Sales Variable costs Total fixed costs Sales (units) Revenue Variable expenses Contribution margin 11,500 units @ 40/unit $28.00 per unit $ 24,150 Required: 1, 2 & 3. Prepare the static and flexible budgets and show the variances by completing the table given below. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Fixed expenses Income 12,600 units @ $39/unit $30.00 per unit $ 23,050 Actual Pete Inc. Static Budget Performance Report For the Month Ended May 31 Flexible Budget Flexible Budget Variance Sales Volume Variance Static Budget Static Variance

Actual and budgeted information about the sales of a product are presented below for June: (CIA adapted) Units Sales Revenue Actual 9,800 $ 289,100 The sales price variance for June was: Budget 11,800 336,300 Multiple Cholce $11,800 unfavorable. $9,800 unfavorable. $12,300 unfavorable $9.800 favorable.