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What is the initial step in preparing a flexible budget

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Question: 1. Is it possible for a retail store such as Apple to use variances in analyzing its operating performance? Explain.

2. Comp Wiz sells computers. During May 2011, it sold 500 computers at a $900 average price each. The May 2011 fixed budget included sales of 550 computers at an average price of $850 each.

(1) Compute the sales price variance and the sales volume variance for May 2011.

(2) Interpret the findings.

3. What is the initial step in preparing a flexible budget?

4. What is the contribution margin?

Reference no: EM131539727

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