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The master budget at Monroe Manufacturing last period called for sales of 42,600 units at $48 each. The costs were estimated to be $32 variable per unit and $530,000 fixed. During the period, actual production and actual sales were 45,600 units. The selling price was $47 per unit. Variable costs were $34 per unit. Actual fixed costs were $521,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each varlance by selecting "F* for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales revenue Less: Actual $ 2,143,200 1550400 Manufacturing Variances 91 200 Answer is not complete. Monroe Manufacturing Profit Variance Analysis Sales Price Variance $ 45,600 U O Flexible Budget Sales Activity Variance O Master Budget

The master budget at Monroe Manufacturing last period called for sales of 42,600 units at $48 each. The costs were estimated to be $32 variable per unit and $530,000 fixed. During the period, actual production and actual sales were 45,600 units. The selling price was $47 per unit. Variable costs were $34 per unit. Actual fixed costs were $521,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each varlance by selecting "F* for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales revenue Less: Actual $ 2,143,200 1550400 Manufacturing Variances 91 200 Answer is not complete. Monroe Manufacturing Profit Variance Analysis Sales Price Variance $ 45,600 U O Flexible Budget Sales Activity Variance O Master Budget

FINANCIAL ACCOUNTING
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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The master budget at Monroe Manufacturing last period called for sales of 42,600 units at $48 each. The costs were estimated to be $32 variable per unit and $530,000 fixed. During the period, actual production and actual sales were 45,600 units. The selling price was $47 per unit. Variable costs were $34 per unit. Actual fixed costs were $521,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales revenue Less: Variable costs Contribution margin Less: Fixed costs Operating profits Actual $ 2,143,200 1,550,400 S 592,800 S 521,000 71,800 9 Monroe Manufacturing Profit Variance Analysis Sales Price Variance $ 45,000 U Manufacturing Variances 91,200 U CC CM 9,000 F U 00 O Answer is not complete. ❤❤ O U Os U $ Flexible Budget 0 Sales Activity Variance 00 F U F F > O Os S Master Budget D 0
Transcribed Image Text:The master budget at Monroe Manufacturing last period called for sales of 42,600 units at $48 each. The costs were estimated to be $32 variable per unit and $530,000 fixed. During the period, actual production and actual sales were 45,600 units. The selling price was $47 per unit. Variable costs were $34 per unit. Actual fixed costs were $521,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales revenue Less: Variable costs Contribution margin Less: Fixed costs Operating profits Actual $ 2,143,200 1,550,400 S 592,800 S 521,000 71,800 9 Monroe Manufacturing Profit Variance Analysis Sales Price Variance $ 45,000 U Manufacturing Variances 91,200 U CC CM 9,000 F U 00 O Answer is not complete. ❤❤ O U Os U $ Flexible Budget 0 Sales Activity Variance 00 F U F F > O Os S Master Budget D 0
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