Zachary Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling. general. and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative Zachary planned to make and sell 26,000 copies of the bodk Required: $ 36.50 8.90 4.50 6.00 6.50 $ 131.000 51.000 a.-d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 25,000 and 27,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 27,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Number of units Variable manufacturing costs Fixed costs Master Budget 26.000 Flexible Budgets 25,000 Volume Variances 27,000 0 0 $ 0 $ 0
Zachary Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling. general. and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative Zachary planned to make and sell 26,000 copies of the bodk Required: $ 36.50 8.90 4.50 6.00 6.50 $ 131.000 51.000 a.-d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 25,000 and 27,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 27,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Number of units Variable manufacturing costs Fixed costs Master Budget 26.000 Flexible Budgets 25,000 Volume Variances 27,000 0 0 $ 0 $ 0
Chapter5: Process Costing
Section: Chapter Questions
Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...
Related questions
Question
None
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning