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Problem 16-75 (Algo) Variance Analysis with Missing Data (...

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Accounting

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Problem 16-75 (Algo) Variance Analysis with Missing Data ( LO 16-5, 6) The master budget for the yearfust ended was on a computer that was just hacked. You feol responsble becouse you didnt inatall antithacking software on the computer and you didnt have a backup fie. Rather than admit your mistake to your supervisoc, you sre trying to reconstruct the budget You have leamed the following information. You know that the compary planned to sell 180,000 units at a price of $5 each Variable marketing and administrative costs are budgeted at 12 percent of revenue. You have discovered that the manufacturing fixed costs are buclgeted to be $1.50 per unit at the budgeted volume. You know that the company pollcy is to budget for an operating profit of one dollat per unit. Finally, you recall that the master budget for fixed marketing and administrative costs is $90,000. Required: Prepore a report explaining the differences between the actual results, flexible budget, and the master budget. (Do not Found intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or " U " for unfavorable. If there is no effect, do not select elther option.)

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