Homework Help is Here – Start Your Trial Now!
Business
Accounting
The master budget at Monroe Manufacturing last period called for sales of 43,200 units at $54 each. The costs were estimated to be $38 variable per unit and $536,000 fixed. During the period, actual production and actual sales were 46,200 units. The selling price was $53 per unit. Variable costs were $40 per unit. Actual fixed costs were $527,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each variance 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 0 0 Monroe Manufacturing Profit Variance Analysis Manufacturing Variances Sales Price Variance Flexible Budget $ $ 0 0 Sales Activity Variance Master Budget $ $ 0 0

The master budget at Monroe Manufacturing last period called for sales of 43,200 units at $54 each. The costs were estimated to be $38 variable per unit and $536,000 fixed. During the period, actual production and actual sales were 46,200 units. The selling price was $53 per unit. Variable costs were $40 per unit. Actual fixed costs were $527,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each variance 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 0 0 Monroe Manufacturing Profit Variance Analysis Manufacturing Variances Sales Price Variance Flexible Budget $ $ 0 0 Sales Activity Variance Master Budget $ $ 0 0

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 2CMA: Marten Company has a cost-benefit policy to investigate any variance that is greater than 1,000 or...
See similar textbooks
icon
Related questions
Topic Video
Question

s

The master budget at Monroe Manufacturing last period called for sales of 43,200 units at $54 each. The costs were estimated to be $38 variable per unit and $536,000 fixed. During the period, actual production and actual sales were 46,200 units. The selling price was $53 per unit. Variable costs were $40 per unit. Actual fixed costs were $527,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each variance 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 0 0 Monroe Manufacturing Profit Variance Analysis Manufacturing Variances Sales Price Variance Flexible Budget $ $ 0 0 Sales Activity Variance Master Budget $ $ 0 0
Transcribed Image Text:The master budget at Monroe Manufacturing last period called for sales of 43,200 units at $54 each. The costs were estimated to be $38 variable per unit and $536,000 fixed. During the period, actual production and actual sales were 46,200 units. The selling price was $53 per unit. Variable costs were $40 per unit. Actual fixed costs were $527,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each variance 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 0 0 Monroe Manufacturing Profit Variance Analysis Manufacturing Variances Sales Price Variance Flexible Budget $ $ 0 0 Sales Activity Variance Master Budget $ $ 0 0
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Performance measurements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
SEE MORE TEXTBOOKS