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Concord Entertainment Corporation prepared a master budget for the month of November that was based on sales of 157,000 board games. The budgeted income statement for the period is as follows.

Sales Revenue				$2,512,000
Variable expenses
Direct materials		$769,300
Direct labor		298,300
Variable overhead		518,100
Total variable expenses				1,585,700
Contribution margin				926,300
Fixed overhead		257,400
Fixed selling and administrative expenses		503,900
Total fixed expenses				761,300
Operating income				$165,000

During November, Concord produced and sold 197,700 board games. Actual results for the month are as follows.

Sales Revenue				$3,152,000
Variable expenses
Direct materials		$956,530
Direct labor		389,430
Variable overhead		663,110
Total variable expenses				2,009,070
Contribution margin				1,142,930
Fixed overhead		277,400
Fixed selling and administrative expenses		503,900
Total fixed expenses				781,300
Operating income (a) Prepare a flexible budget for November. (Round unit answers to 2 decimal places, e.g. 5.25 & all other answers to 0 decimal places, e.g. 125.) (b) Calculate Concords static budget variance for November. (Round answers to 0 decimal places, e.g. 125. Enter all variance amounts as positive values. If variance is zero, select "Not Applicable" and enter 0 for the amounts.) (c) Based on the available information, prepare a performance report for management. (If variance is zero, select "Not Applicable" and enter 0 for the amounts.)				$361,630

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