Prepare a summary performance report identifying its flexible budget and sales activity variances. F 1 answer below »

Prepare a summary performance report identifying its flexible budget and sales activity variances. Fill in blanks with data below and then use formulas to calculate the empty spaces.

–Static Budget data- sales, 3500 clients at $350 each, variable cosys, $300 per client, fixed costs 150,000

— Actual results at actual prices: sales 3000 clients at #360 per client, variable costs, 920,000; fixed costs 159,500

Actual Results at Actual Activity

Flexible-Budget Variances

Flexible Budget at Actual Activity

Sales-Activity Variances

Static Budget

Clients

Sales

Variable Costs

Contribution Margin

Fixed Costs

Operating Income