Solomon Manufacturing Company established the following standard price and cost data. $ 8.10 per unit 3.30 per unit 2,600 total 600 total Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost Solomon planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 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.

Solomon Manufacturing Company established the following standard price and cost data. $ 8.10 per unit 3.30 per unit 2,600 total 600 total Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost Solomon planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 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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