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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: accounting
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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