The actual information pertains to the month of June. As a part of the budgeting process, Great Cabinets Company developed the following static budget for June. Great Cabinets is in the process of preparing the flexible budget and understanding the results. Actual Flexible Static Results Budget BudgetSales volume (in units) 17,000 21,000Sales revenues $935,000 $ $1,155,000Variable costs 391,000 $ 480,270Contribution margin 544,000 $ 674,730Fixed costs 275,800 $ 268,600Operating profit $268,200 $ $406,130 The flexible-budget variance for variable costs is: (Round any intermediate calculations to the nearest cent, and round your final answer to the nearest dollar.) $202,275 unfavorable $2,210 unfavorable $89,270 favorable $137,930 favorable

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Profits from using currency options and futures.on july 2, the two-month futures rate of the mexican peso contained a 2 percent discount (unannualized). there was a call option on pesos with an exercise price that was equal to the spot rate. there was also a put option on pesos with an exercise price equal to the spot rate. the premium on each of these options was 3 percent of the spot rate at that time. on september 2, the option expired. go to the oanda.com website (or any site that has foreign exchange rate quotations) and determine the direct quote of the mexican peso. you exercised the option on this date if it was feasible to do so. a. what was your net profit per unit if you had purchased the call option? b. what was your net profit per unit if you had purchased the put option? c. what was your net profit per unit if you had purchased a futures contract on july 2 that had a settlement date of september 2? d. what was your net profit per unit if you sold a futures contract on july 2 that had a settlement date of september 2

You own a nonunion company with 93 nonexempt employees. all of these employ- ees pack books into boxes for shipment to customers throughout the united states. because of wide differences in performance, you have decided to try performance appraisal, something never done before. until now, you have given every worker the same size increase. now you want to measure performance and reward the best performers with bigger increases. without any further information, which of the five types of appraisal formats do you think would be most appropriate? justify your answer. do you anticipate any complaints, or other comments, from employees after you implement your new system?