Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Actual fixed costs Manufacturing overhead Selling, general, and administrative Required $ 35.20 8.90 4.00 6.25 6.00 $ 117,000 52,000 a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Sales revenue Variable manufacturing costs Materials Labor Overhead Selling, general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general, and administrative costs Net income Flexible Budget Variances
Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Actual fixed costs Manufacturing overhead Selling, general, and administrative Required $ 35.20 8.90 4.00 6.25 6.00 $ 117,000 52,000 a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Sales revenue Variable manufacturing costs Materials Labor Overhead Selling, general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general, and administrative costs Net income Flexible Budget Variances
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Actual price and variable costs
Sales price
Materials cost
Labor cost
Overhead cost
Selling, general, and administrative costs
Actual fixed costs
Manufacturing overhead
Selling, general, and administrative
Required
$ 35.20
8.90
4.00
6.25
6.00
$ 117,000
52,000
a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable
(U).
Note: Select "None" if there is no effect (i.e., zero variance).
Sales revenue
Variable manufacturing costs
Materials
Labor
Overhead
Selling, general, and administrative costs
Contribution margin
Fixed costs
Manufacturing overhead
Selling, general, and administrative costs
Net income
Flexible Budget
Variances
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