(Flexible Budget: Fill in the Unknowns) Complete the following variance analysis worksheet for Serif Industries.
|
Actual Results |
flexible Budget Variance |
flexible Volume Budget Variance |
Master Budget |
|
|
Units sold |
50,000 |
60,000 |
||
|
Revenues |
$725,000 |
$900,000 |
||
|
Variable costs |
275,000 |
300,000 |
||
|
Contribution margin |
S(50,000) |
$(100,000) |
600,000 |
|
|
Fixed costs |
175,000 |
S(I0,000) |
185,000 |
|
|
Profit |