Exercise 8-1A (Algo) Preparing master and flexible budgets LO 8-1 Baird Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.50 per unit $ 3.70 per unit $2,200 total $1,000 total Baird planned to produce and sell 2,300 units. Actual production and sales amounted to 2,500 units. Required a. Prepare the pro forma income statement in contribution format that would appear in a master budget. b. Prepare the pro forma income statement in contribution format that would appear in a flexible budget.

Exercise 8-1A (Algo) Preparing master and flexible budgets LO 8-1 Baird Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.50 per unit $ 3.70 per unit $2,200 total $1,000 total Baird planned to produce and sell 2,300 units. Actual production and sales amounted to 2,500 units. Required a. Prepare the pro forma income statement in contribution format that would appear in a master budget. b. Prepare the pro forma income statement in contribution format that would appear in a flexible budget.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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