Thornton Manufacturing Company established the following standard price and cost data. Sales price $8.50 per unit Variable manufacturing cost $ 3.70 per unit Fixed manufacturing cost $2,100 total Fixed selling and administrative cost $ 700 total Thornton planned to produce and sell 2,000 units. Actual production and sales amounted to 2,200 units. Required 1. Prepare the pro forma income statement in contribution format that would appear in a master budget. 2. Prepare the pro forma income statement in contribution format that would appear in a flexible budget. Required A Required B Prepare the pro forma income statement in contribut THORNTON MANUFACTURING COMPANY Pro Forma Income Statement Required A Required B Master Budget 2,000 Units Required Prepare the pro forma income statement in contribution THORNTON MANUFACTURING COMPANY Pro Forma Income Statement Flexible Budget 2,200 Units

Thornton Manufacturing Company established the following standard price and cost data. Sales price $8.50 per unit Variable manufacturing cost $ 3.70 per unit Fixed manufacturing cost $2,100 total Fixed selling and administrative cost $ 700 total Thornton planned to produce and sell 2,000 units. Actual production and sales amounted to 2,200 units. Required 1. Prepare the pro forma income statement in contribution format that would appear in a master budget. 2. Prepare the pro forma income statement in contribution format that would appear in a flexible budget. Required A Required B Prepare the pro forma income statement in contribut THORNTON MANUFACTURING COMPANY Pro Forma Income Statement Required A Required B Master Budget 2,000 Units Required Prepare the pro forma income statement in contribution THORNTON MANUFACTURING COMPANY Pro Forma Income Statement Flexible Budget 2,200 Units

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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