(Answered) Problemsantana company produced and sold 100000 units of

Accounting

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?

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