Question
Complete the performance report. (For accounts with a zero balance, make sure to enter "0" in...
Complete the performance report. (For accounts with a zero balance, make sure to enter "0" in the appropriate cell. Label each variance as favourable (F) or unfavourable (U). If the variance is zero, do not select a label.)
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Roland Company |
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Income Statement Performance Report |
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|
Year Ended July 31 |
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Flexible Budget for |
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|
Actual Results at |
Flexible Budget |
Actual Number of |
Sales Volume |
Static (Master) |
|||
|
Actual Prices |
Variance |
Output Units |
Variance |
Budget |
|||
|
Output units |
43,000 |
43,000 |
4,000 |
F |
|||
|
Sales revenue |
$223,000 |
$223,000 |
$26,000 |
F |
|||
|
Variable expenses |
88,000 |
83,000 |
14,000 |
U |
|||
|
Fixed expenses |
109,000 |
102,000 |
0 |
||||
|
Total expenses |
197,000 |
185,000 |
14,000 |
U |
|||
|
Operating income |
$26,000 |
$38,000 |
$12,000 |
F |
|||
Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasons.
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