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Sibson Manufacturing Company established the following standard price and cost data. $8.60 per unit $ 3.10 per unit $2,500 total $ 600 total Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost Gibson 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.

Sibson Manufacturing Company established the following standard price and cost data. $8.60 per unit $ 3.10 per unit $2,500 total $ 600 total Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost Gibson 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.

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 48BEB: Performance Report Based on Budgeted and Actual Levels of Production Balboa Company budgeted...
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Gibson Manufacturing Company established the following standard price and cost data. $ 8.60 per unit $ 3.10 per unit $2,500 total $ 600 total Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost Gibson 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. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a master budget. GIBSON MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,300 Units Required B >
Transcribed Image Text:Gibson Manufacturing Company established the following standard price and cost data. $ 8.60 per unit $ 3.10 per unit $2,500 total $ 600 total Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost Gibson 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. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a master budget. GIBSON MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,300 Units Required B >
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Please use following terms and organize income statements correctly please with numbers thank you 

Gibson Manufacturing Company established the following standard price and cost data. $8.60 per unit $ 3.18 per unit Fixed manufacturing cost $ 2,500 total $ 680 total Fixed selling and administrative cost Gibson 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. Sales price Variable manufacturing cost Complete this question by entering your answers in the tabs below. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a master budget. GIBSON MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,300 Units Fixed manufacturing Fixed selling and administrative Sales Variable manufacturing Variable selling and administrative 0 0 10 Required B
Transcribed Image Text:Gibson Manufacturing Company established the following standard price and cost data. $8.60 per unit $ 3.18 per unit Fixed manufacturing cost $ 2,500 total $ 680 total Fixed selling and administrative cost Gibson 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. Sales price Variable manufacturing cost Complete this question by entering your answers in the tabs below. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a master budget. GIBSON MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,300 Units Fixed manufacturing Fixed selling and administrative Sales Variable manufacturing Variable selling and administrative 0 0 10 Required B
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Please use following terms and organize income statements correctly please with numbers thank you 

Gibson Manufacturing Company established the following standard price and cost data. $8.60 per unit $ 3.18 per unit Fixed manufacturing cost $ 2,500 total $ 680 total Fixed selling and administrative cost Gibson 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. Sales price Variable manufacturing cost Complete this question by entering your answers in the tabs below. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a master budget. GIBSON MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,300 Units Fixed manufacturing Fixed selling and administrative Sales Variable manufacturing Variable selling and administrative 0 0 10 Required B
Transcribed Image Text:Gibson Manufacturing Company established the following standard price and cost data. $8.60 per unit $ 3.18 per unit Fixed manufacturing cost $ 2,500 total $ 680 total Fixed selling and administrative cost Gibson 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. Sales price Variable manufacturing cost Complete this question by entering your answers in the tabs below. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a master budget. GIBSON MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,300 Units Fixed manufacturing Fixed selling and administrative Sales Variable manufacturing Variable selling and administrative 0 0 10 Required B
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