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Solomon Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.30 per unit $ 3.30 per unit $ 2,200 total $ 900 total Solomon planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 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. Complete this question by entering your answers in the tabs below. Req A and B Req D Req E a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Sales Variable manufacturing Volume Variances

Solomon Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.30 per unit $ 3.30 per unit $ 2,200 total $ 900 total Solomon planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 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. Complete this question by entering your answers in the tabs below. Req A and B Req D Req E a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Sales Variable manufacturing Volume Variances

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Solomon Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.30 per unit $ 3.30 per unit $ 2,200 total $ 900 total Solomon planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 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. Complete this question by entering your answers in the tabs below. Req A and B Req D Req E a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Sales Variable manufacturing Volume Variances
Transcribed Image Text:Solomon Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.30 per unit $ 3.30 per unit $ 2,200 total $ 900 total Solomon planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 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. Complete this question by entering your answers in the tabs below. Req A and B Req D Req E a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Sales Variable manufacturing Volume Variances
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