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What is net income for the flexible budget

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Reference no: EM131790070

Problem

Santana Company produced and sold 100,000 units of its product in July.

For the level of production achieved in July, the budgeted amounts were: sales, $850,000; variable costs, $675,000; and fixed costs, $150,000.

July actual financial results are: sales, $837,500; variable costs, 656,250; and fixed costs, $150,000.

Prepare a flexible budget performance report for July.

Flexible

Flexible

Budget

Actual

Budget

_100000__units

units

Variances

Sales

850000

-Var Cost

675000

Margin

175000

-FC

150000

  Income


Income

A) What is net income for the flexible budget?
B) What is net income for actual?
C) What is the total variance?

Reference no: EM131790070

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