The following information was drawn from the accounting records of Smith Company
Static...
Business, 16.04.2020 02:28, mirianplacencia27
The following information was drawn from the accounting records of Smith Company
Static
Budget
Flexible
Budget
Actual
Results
Sales
$ 10,000
$ 12,000
$ 12,700
Cost of Goods Sold
(6,000)
(7,200)
(6,900)
Gross Margin
4,000
4,800
5,800
Variable Cost
(2,000)
(2,400)
(2,600)
Fixed Cost
(1,000)
(1,000)
(1,300)
Net Income
$ 1,000
$ 1,400
$ 1,900
Based on this information the
a. variable operating cost volume variance is a $400 favorable variance.
b. variable operating cost flexible budget variance is a $200 unfavorable variance.
c. variable operating cost volume variance is a $200 favorable variance.
d. variable operating cost flexible budget variance is a $400 favorable variance.
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