E23-16Stenback Pro Company managers received the following incomplete performance report

QUESTION

E23-16 Preparing a flexible budget performance
report

E23-16Stenback Pro Company managers received the following incomplete
performance report:

STENBACK PRO
COMPANY
Flexible Budget Performance Report
For the Year Ended July 31, 2014

Actual
Flexible Budget Flexible Sales Static

Results
Variance
Budget
Volume

Variance
Budget

Units 39,000 (a) 39,000 3,000 F (g)

Sales Revenue $218,000 (b) $218,000 $27,000 F (h)

Variable Expenses 84,000 (c) 81,000 10,000 U (i)

Contribution Margin $134,000 (d) 137,000 17,000 F (j)

Fixed Expenses 108,000 (e) 101,000 0 (k)

Operating Income $
26,000
(f) $36,000 17,000 F (l)

Complete the performance report. Identify the employee group that may
deserve praise and the group that may be subject to criticism. Give your
reasoning.

ANSWER:

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