Prepare a flexible budget performance report for the year

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Reference no: EM13568618

My co. provides the following fixed budget data for the year:

Sales (20000 units)		$600000
Cost of sales:
Direct materials	200000
Direct labor	160000
Variable overhead	60000
Fixed overhead	80000	500000
Gross profit		100000
Operating expenses:
Fixed	12000
Variable	40000	52000
Income from operations		48000

The company's actual activity for the year follows:

Sales (21000 units)		651000
COGS
Direct materials	231000
Direct labor	168000
Variable overhead	73500
Fixed overhead	77500	550000
Gross profit		101000
Operating expenses:
Fixed	12000
Variable	39500	51500
Income from operations		49500

Prepare a flexible budget performance report for the year using the contribution margin format.

Reference no: EM13568618

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