Answer the Following Questions Using the Information Below:
Contrafic Corporation

question 137

Multiple Choice

Answer the following questions using the information below:
Contrafic Corporation used the following data to evaluate its current operating system. The company sells items for $21 each and used a budgeted selling price of $21 per unit.
$$\begin{array} { l r r } & \underline { \text { Actual } } & \text { Budgeted } \\\text { Units sold }& 180,000 \text { units } & 185,000 \text { units } \\\text { Variable costs } & \$ 1,080,000 & \$ 1,295,000 \\\text { Fixed costs }&\$ 800,000 & \$ 775,000\end{array}$$
-What is the static-budget variance of operating income?

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Definitions:

Future Misconduct

Refers to potential or expected unethical or illegal actions that might occur in the future, based on past behaviors or patterns.

Profitable

Generating income that exceeds expenditures, thus providing a financial gain for an entity.

Corporate Citizenship

The extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their stakeholders.