Question: Beech Company produced and sold 105,000 units of its product in May. For the level of production achieved in May, the budgeted amounts were: sales, $1,300,000; variable costs, $750,000; and fixed costs, $300,000. The following actual financial results are available for May.
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Actual
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Sales (105,000 units)
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$
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1,275,000
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Variable costs
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712,500
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Fixed costs
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300,000
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Prepare a flexible budget performance report for May.
Beech Company
Flexible Budget Performance Report, For Month Ended May 31
Flexible Budget Actual Results Variance Favorable/Un fav.
Sales
Variable Expense
Contribution Margin
Fixed Expense
Income from Operations
(Could you please show how to get the Flexible Budget)