Munoz Manufacturing Company established the following standard price and cost data. Sales price $ 8.60 per unit $ 3.40 per unit Variable manufacturing cost Fixed manufacturing cost $ 2,800 total Fixed selling and administrative cost $ 600 total Munoz planned to produce and sell 2,400 units Actual production and sales amounted to 2,600 units. Required a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U) d. Determine the amount of fixed cost that will appear in the flexible budget e. Determine the fixed cost per unit based on planned activity and the fixed cost per unit based on actual activity

Munoz Manufacturing Company established the following standard price and cost data. Sales price $ 8.60 per unit $ 3.40 per unit Variable manufacturing cost Fixed manufacturing cost $ 2,800 total Fixed selling and administrative cost $ 600 total Munoz planned to produce and sell 2,400 units Actual production and sales amounted to 2,600 units. Required a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U) d. Determine the amount of fixed cost that will appear in the flexible budget e. Determine the fixed cost per unit based on planned activity and the fixed cost per unit based on actual activity

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Description: Please answer complete question, otherwise skip it,,,answer in text form please (without image) Munoz Manufacturing Company established the following standard price and cost data.Sales priceVariable manufacturing costFixed manufacturing cost$8.60 per

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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