Essay
Hemphill Corporation uses customers served as its measure of activity. During June, the company budgeted for 20,000 customers, but actually served 19,000 customers. The company has provided the following data concerning the formulas used in its budgeting and its actual results for June:
Data used in budgeting: 
Actual results for June: 
Required:
Prepare the company's flexible budget performance report for June. Label each variance as favorable (F) or unfavorable (U).
Correct Answer:
Verified
Correct Answer:
Verified
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