None Zachary Publications established the following standard price and costs for a hardcover picture book that the company produces.Standard price and variable costsSales priceMaterials costLabor costOverhead costSelling. general. and administrative costsPlanned fixed costsManufacturing overheadSelling, general, and administrativeZachary planned to make and sell 26,000 copies of the bodkRequired:$ 36.508.904.506.006.50$ 131.00051.000a.-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 volumeis 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 unitsVariable manufacturing costsFixed costsMaster Budget26.000Flexible Budgets25,000Volume Variances27,00000$0$0

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Answered: Zachary Publications established the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

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Walton 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 $36.70 8.90 4.30 5.80 7.00 $131,000 52,000 Walton planned to make and sell 31,000 copies of the book. Required: 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 30,000 and 32,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 32,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e..
Thornton 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 $ 36.90 9.00 3.80 5.70 6.60 $135,000 45,000 Thornton planned to make and sell 29,000 copies of the book. Required: 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 28,000 and 30,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 30,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)
Campbell Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price $4 36.90 Materials cost 8.20 Labor cost 4.00 Overhead cost 6.10 Selling, general, and administrative costs Planned fixed costs 7.10 Manufacturing overhead Selling, general, and administrative $131,000 45,000 Campbell planned to make and sell 31,000 copies of the book. Required: 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 30,000 and 32,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 32,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Master Budget Flexible Budgets Volume Variances Number of units 31,000 30,000 32,000 Variable manufacturing costs
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 12,000 shelves $144,000    $14,800    $130,000    24,000 shelves 288,000    28,600    130,000    48,000 shelves 576,000    56,200    130,000    60,000 shelves 720,000    70,000    130,000    1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Variable Cost Utilities Mixed Cost Depreciation Fixed Cost 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round…
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000    $8,400    $125,000    12,000 shelves 144,000    15,300    125,000    24,000 shelves 288,000    29,100    125,000    30,000 shelves 360,000    36,000    125,000    1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per…
Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 7,000 shelves $84,000    $9,550    $140,000    14,000 shelves 168,000    17,600    140,000    28,000 shelves 336,000    33,700    140,000    35,000 shelves 420,000    41,750    140,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion…
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000 $7,900 $135,000 12,000 shelves 144,000 14,800 135,000 24,000 shelves 288,000 28,600 135,000 30,000 shelves 360,000 35,500 135,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit)…
Walton 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 $ 36.40 8.10 3.80 5.40 6.90 Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative $129,000 45,000 Assume that Walton actually produced and sold 39,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price Materials cost $ 8.30 3.70 35.40 Labor cost Overhead cost 5.45 Selling, general, and administrative costs Actual fixed costs 6.70 Manufacturing overhead Selling, general, and administrative $114,000 51,000
Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 6,000 shelves $72,000 $7,900 $135,000 12,000 shelves 144,000 14,800 135,000 24,000 shelves 288,000 28,600 135,000 30,000 shelves 360,000 35,500 135,000 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places. Cost Fixed Portionof Cost Variable Portionof Cost (per Unit) Lumber $fill in the blank…
akeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Up eBook Show Me How Print Item High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 80,000 $25,100,000 92,000 27,206,000 120,000 32,120,000 a. Determine the variable cost per unit and the total fixed cost. Variable cost (Round to two decimal places.) %24 per unit Total fixed cost b. Based on part (a), estimate the total cost for 115,000 units of production. Total cost for 115,000 units Check My Work 4 more Check My Work uses remaining. Previous Next
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 $ 36.80 Materials cost 8.10 Labor cost 3.70 Overhead cost 6.10 Selling, general, and administrative costs 7.20 Planned fixed costs Manufacturing overhead $ 133,000 Selling, general, and administrative 52,000 Assume that Zachary actually produced and sold 35,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price $ 35.80 Materials cost 8.30 Labor cost 3.60 Overhead cost 6.15 Selling, general, and administrative costs 7.00 Actual fixed costs Manufacturing overhead $ 118,000 Selling, general, and administrative 58,000 Required a. & b. Determine the flexible budget variances and also Indicate whether each variance is favorable…
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 $ 36.70 Materials cost 8.30 Labor cost 4.30 Overhead cost 5.30 Selling, general, and administrative costs 7.00 Planned fixed costs Manufacturing overhead $ 125,000 Selling, general, and administrative 53,000 Assume that Zachary actually produced and sold 34,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price $ 35.70 Materials cost 8.50 Labor cost 4.20 Overhead cost 5.35 Selling, general, and administrative costs 6.80 Actual fixed costs Manufacturing overhead $ 110,000 Selling, general, and administrative 59,000 Required a. & b. Determine the flexible budget variances and also indicate the effect of each variance by…

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