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The Static Budget,at the Beginning of the Month,for Onyx Décor $70.00 \$ 70.00

question 38

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The static budget,at the beginning of the month,for Onyx Décor Company,follows: Static budget:
Sales volume: 1,000 units; Sales price: $70.00 \$ 70.00 per unit
Variable costs: $32.00 \$ 32.00 per unit; Fixed costs: $37,900 \$ 37,900 per month
Operating income: $100 \$ 100

Actual results, at the end of the month, follows:

Actual results:
Sales volume: 970 units; Sales price: $74.00 \$ 74.00 per unit
Variable costs: $35.00 \$ 35.00 per unit; Fixed costs: $34,400 \$ 34,400 per month
Operating income: $3,430 \$ 3,430
Calculate the flexible budget variance for sales revenue.

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Definitions:

Unique Set of Needs

Specific, individual requirements or desires that vary from person to person, influencing behavior and satisfaction.

Maslow's Need Hierarchy

A theory of human motivation which states that people are motivated to fulfill basic needs before moving on to other, more advanced needs.

Incentives

Rewards or motivations provided to encourage specific behaviors or outcomes, commonly used in organizational settings to enhance performance.

Physiological Need

Basic physical requirements for human survival, such as food, water, and shelter, as identified in Maslow's hierarchy of needs.

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