dont give answer in image format SHU Co. Flexible Budget Home RunPractice!The SHU Company president, Gregory Peters, has come to you for help.Use the following data to answerthe following questions:0Sales volume (=Production volume)Sales price:Variable costs:D0000Direct materialsDirect LaborVariable overheadVariable Admin ExpVariable SellingFixed costs:Manufacturing OverheadBudgeted12,000$24 per unit$5 per unit$2 per unit$7 per unit$3 per unit$ 1 per unitHis for Home RunWhats$50,000$20,000Actual10,000$22 per unit$6 per unit$2 per unit$8 per unit$2 per unit$2 per unit$60,000$15,00000 Admin Exp(1) Prepare contribution margin income statement for actual results,flexible budget and static budget.(2) Calculate static budget variance and flexible budget variance andsales volume variance

The static budget variance is the difference between static budget and flexible budget. The flexible…

The SHU Company president, Gregory Peters, has come to you for help. Use the following data to answer the following questions: 0 Sales volume (=Production volume) Sales price: Variable costs: 0 0 0 0 0 Direct materials Direct Labor Variable overhead Variable Admin Exp Variable Selling Fixed costs: Budgeted 12,000 $24 per unit Manufacturing Overhead $5 per unit $2 per unit $7 per unit $3 per unit $ 1 per unit Actual 10,000 $22 per unit $6 per unit $2 per unit $8 per unit $2 per unit $2 per unit 0 $50,000 0 Admin Exp $20,000 (1) Prepare contribution margin income statement for actual results, flexible budget and static budget. (2) Calculate static budget variance and flexible budget variance and sales volume variance $60,000 $15,000

The SHU Company president, Gregory Peters, has come to you for help. Use the following data to answer the following questions: 0 Sales volume (=Production volume) Sales price: Variable costs: 0 0 0 0 0 Direct materials Direct Labor Variable overhead Variable Admin Exp Variable Selling Fixed costs: Budgeted 12,000 $24 per unit Manufacturing Overhead $5 per unit $2 per unit $7 per unit $3 per unit $ 1 per unit Actual 10,000 $22 per unit $6 per unit $2 per unit $8 per unit $2 per unit $2 per unit 0 $50,000 0 Admin Exp $20,000 (1) Prepare contribution margin income statement for actual results, flexible budget and static budget. (2) Calculate static budget variance and flexible budget variance and sales volume variance $60,000 $15,000

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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