Time Remaining: 01:13:41 Submit O 10 pts This Quiz: 50 pts poss Bank Management

Question

Time Remaining: 01:13:41 Submit O 10 pts This Quiz: 50 pts poss Bank Management Printers, Inc, produces luxury checkbooks with three checks and stubs per page. Each checkbook is designed for an individual oustomer and is ordered through the austomers bank The company's operating budget and actual results for September 2014 included these data: EEB (Click the lcon to view the operating budget and actual rosults) The executive vice president of the company observed that the operating income for September was much lower han antcipated, despite a higher-than-budgeted seling price and a lower-than-budgeted variabie cost per unit. As tho company's managament accountant, you have been asked to provide expianations for the disappointing Sember reeults. Bank Managemeant develpe is fesxible budgot on the basis of budgetod per-output-unit revenue and per-output-unit varñiable costs without detailed analysis of budgeted inputs Read the requirements Requirement 1. Prepare a static-budget-based varianoe analysis of the September performanoe. Begn with the achal results, ten compute te static budget and the statobudget vanancesLab eat, varance as berabo orttinonoErwan ActualStatic-Budget Static Budget Results Variances nits sold Variable costs Contribution margin Fixed oosts Operating i como 0oss) Requirement 2. Prepare a flexible -budget-based variance analysis of the September performance. Choose from any list or enter any number in the input fields and then continue to the next question 8 9 3 4 5 6 2

Explanation / Answer

Actual Static-budget Static Results Variance budget Units Sold 12,000 3,000 15,000 Revenues 252000 48000 U 300000 variable costs 84000 36000 F 120000 Contribution margin 168000 12000 U 180000 Fixed costs 150,000 5,000 U 145,000 Operating income(loss) 18,000 17,000 U 35,000

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