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Calculate the fixed administrative cost variance

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Question - The actual and budgeted income statement for Bend Industries is provided.

 

Income Statement

 

Actual

Budget

 

Revenues

$235,400

$236,250

Variable manufacturing costs

$93,625

$93,450

Variable marketing costs

$18,832

$18,375

Contribution margin

$122,943

$124,425

Fixed manufacturing costs

$44,500

$45,000

Fixed marketing costs

$31,500

$30,000

Fixed administrative costs

$27,500

$25,000

Operating profit

$19,443

$24,425

Required - Calculate the fixed administrative cost variance and indicate whether it is Favorable (F) or Unfavorable (U).

a. $1,500 F

b. $2,500 F

c. $1,450 U

d. $2,500 U

Reference no: EM133164385

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