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QUESTION
Richfield Company produces engine parts for car manufacturers.
2017
Performance Report
Year Ended December 31, 2017
Actual
Flexible-Budget
Flexible
Sales-Volume
Static
Results
Variances
Budget
Variances
Budget
Units sold
106,000
98,000
Revenues (sales)
$
683,700
$
416,500
Variable costs
460,000
215,600
Contribution margin
223,700
200,900
Fixed costs
122,800
100,000
Operating income
$
100,900
$
100,900
1.
2.
3.
