Using the following information,prepare a single report setting forth the variable costing income statement as well as a performance report for Profit Center West.
Budgeted sales Budgeted sales variance Actual variable cost of goods sold Actual variable cost of goods sold variance Budgeted variable selling expenses Actual variable selling expenses Budgeted fixed manufacturing costs Budgeted fixed manufacturing costs variance Budgeted fixed selling expenses Budgeted fixed selling expenses varianceActual number of orders processedActual number of orders processed Budgeted average daily sales Budgeted average daily sales variance Actual number of units sold Actual number of units sold variance $20,000$5,000$8,000$10,000$5,000$3,000$1,000$50$2,000$10010010$500$20045025(F)(F)(F)(F)(U) (F) (F)
Definitions:
Retail Investors
Individual investors who buy and sell securities for their personal accounts, not for another company or organization.
Road Show
A series of presentations by the management of a company looking to issue securities to potential investors, typically conducted across various cities.
Investment Bank
A financial institution that acts as an intermediary in large and complex financial transactions, including underwriting, acting as an advisor for mergers and acquisitions, and facilitating securities issuance.
Underwriting
Underwriting involves assessing the risk of insuring or financing and setting the appropriate terms and conditions for doing so. It is commonly used in insurance and banking.