Onyx Company has prepared a static budget at the beginning of the month. At the end of the month, the following information has been retrieved from the records.
Static budget:
Sales volume: 1,000 units: Prices: $70 per unit
Variable expense: $32 per units:
Fixed expenses: $37,500 per month
Operating income: $500
Actual results:
Sales volume: 990 units: Price $74 per unit
variable expenses:$35 per unit: Fixed expenses:$33,000 per month
Operating income: $5,610
Calculate the flexible budget variance for fixed expenses.
a.$4,500U
b. $4,500F
c. $0
d. $5,490
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