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Patterson, Inc wishes to evaluate, in summary fashion, its financial performance for the most recent...

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Accounting

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Patterson, Inc wishes to evaluate, in summary fashion, its financial performance for the most recent period Budgeted and actual operating results for this period are presented below Patterson, Inc. wishes to evaluate, in summary fashion, its financial performance for the most recent period. Budgeted and actual operating results for this period are presented below. Units sold Sales Variable costs Fixed costs Master Budget 40,000 $ 2,000,000 $ 1.200.000 $ 600,000 Actual Results 36,000 $ 1.900,000 $ 1.152,000 $ 660,000 1 What was the actual operating income for the period, to the nearest dollar? 2. What is the firm's master budget operating income to the nearest dollar? 3 What was the flexible-budget operating income for the period, to the nearest dollar? 4. What is the total operating income variance of the period, to the nearest dollar? 5. What was the sales volume variance in terms of operating income, for the period, to the nearest dollar? 6 What are the key elements of the traditional financial control model? 7. What are the primary limitations of the traditional financial control model

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