Problem 17-55 (Algo) Derive Amounts for Profit Variance Analysis (LO 17-6) Classics, Ltd., details cars. Classics wants to compare this quarter's results with those for last quarter, which is belleved...

Extracted text: Problem 17-55 (Algo) Derive Amounts for Profit Variance Analysis (LO 17-6) Classics, Ltd., details cars. Classics wants to compare this quarter's results with those for last quarter, which is belleved to be typical for operations. Assume that the following information is provided. Last Quarter 510 $87,210 28,620 This Quarter 663 $70, 200 34,020 Number of detailings Revenues Variable costs Contribution margini $58,590 $36, 180 Required: a. Compute the flexible budget and sales activity varlance and prepare a profit varlance analysis. (Hint Use last quarter as the master budget and this quarter as "actual.") b. What impact did the changes in number of detallings and average revenues (L.e., sales price) have on Classics, Ltd.s contributlon margin? Complete this questlon by entering your answers In the tabs below. Required A Required B Compute the flexible budget and sales activity variance and prepare a profit variance analysis. (Hint: Use last quarter as the master budget and this q "actual.") (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is not select either option. Enter your answers rounded to the nearest whole number.) < prev="" 17="" of="" 17="">