As part of its comprehensive planning and control system, Mopar Company uses a master budget...
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Accounting
As part of its comprehensive planning and control system, Mopar Company uses a master budget and subsequent variance analysis. You are given the following information that pertains to the companys only product, XL-10, for the month of December.
Required:
1. Complete the missing parts of the following profit report for December.
2. Based on your completed profit report, determine the dollar amount, and label (Favorable or Unfavorable) each of the following variances for December:
a. Total master budget variance.
b. Total flexible budget variance.
c. Sales volume variance, in terms of operating income.
d. Sales volume variance, in terms of contribution margin.
e. Selling price variance.
Required 1 Required 2 Complete the missing parts of the following profit report for December. (If a variance has no amount, select "None" in the corresponding dropdown Actual Results Flexible-Budget Variances Flexible Budget Sales Volume Variances Master Budget Unit sales Sales $ $ Variable costs 109,000 545,000 414,200 130,800 71,000 59,800 98,000 490,000 294,000 196,000 84,000 112,000 Contribution margin $ $ Fixed costs Operating income $
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