Mani Baird 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 costs.Planned fixed costs:$36.408.004.005.806.20Manufacturing overhead$ 135,000Selling, general, and administrative52,000Assume that Baird actually produced and sold 35,000 books. The actual sales price and costs incurred followActual price and variable costsSales priceMaterials costLabor costOverhead costSelling, general, and administrative costsActual fixed costs.Manufacturing overheadSelling, general, and administrative$ 35,408.203.905.856.00$ 120,00058,000 Requireda. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable(U).Note: Select "None" if there is no effect (i.e., zero variance).Sales revenueVariable manufacturing costsMaterialsLaborOverheadSelling, general, and administrative costsContribution marginFixed costsManufacturing overheadSelling, general, and administrative costsNet incomeFlexible BudgetVariances

The variance is the difference between the actual result and the company's standard result.…

Baird 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 Jabon cort $36.40 8.00

Baird 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 Jabon cort $36.40 8.00

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter11: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 16E

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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
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 $114,000 51,000
Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces: Standard price and variable costs Sales price 2$ 90.00 Materials cost 18.00 Labor cost 9.00 Overhead cost 12.60 Selling, general, and administrative costs Planned fixed costs 14.40 Manufacturing overhead Selling, general, and administrative $270,000 108,000 Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow. Actual price and variable costs Sales price Materials cost $ 87.00 18.40 8.80 Labor cost Overhead cost 12.70 Selling, general, and administrative costs 14.00 Actual fixed costs Manufacturing overhead Selling, general, and administrative $250,000 116,000 Required a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Flexible Budget Variances Sales…
Narcisco 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 $ 90.00 18.00 Labor cost 9.00 Overhead cost 12.60 Selling, general, and administrative costs Planned fixed costs 14.40 Manufacturing overhead Selling, general, and administrative $270,000 108,000 Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow. Actual price and variable costs Sales price 2$ 87.00 Materials cost 18.40 Labor cost Overhead cost 8.80 12.70 Selling, general, and administrative costs Actual fixed costs 14.00 Manufacturing overhead Selling, general, and administrative $250,000 116,000 Required a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Flexible Budget Variances Sales…
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…
Franklin Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price $ 36.60 Materials cost 8.20 Labor cost 4.50 Overhead cost 5.50 Selling, general, and administrative costs 6.70 Planned fixed costs Manufacturing overhead $ 129,000 Selling, general, and administrative 45,000 Assume that Franklin actually produced and sold 33,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price $ 35.60 Materials cost 8.40 Labor cost 4.40 Overhead cost 5.55 Selling, general, and administrative costs 6.50 Actual fixed costs Manufacturing overhead $ 114,000 Selling, general, and administrative 51,000 Required a. & b. Determine the flexible budget variances and also indicate the effect of each variance by…
Benson Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price $ 36.30 Materials cost 8.80 Labor cost 4.10 Overhead cost 6.10 Selling, general, and administrative costs 6.80 Planned fixed costs Manufacturing overhead $ 132,000 Selling, general, and administrative 45,000 Assume that Benson actually produced and sold 32,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price $ 35.30 Materials cost 9.00 Labor cost 4.00 Overhead cost 6.15 Selling, general, and administrative costs 6.60 Actual fixed costs Manufacturing overhead $ 117,000 Selling, general, and administrative 51,000 Required a. & b. Determine the flexible budget variances and also Indicate whether each variance is favorable (F)…
Blueberry Company reports the following information: Direct Materials $10 / unit Direct Labor $20 / unit Variable Overhead $10 / unit Fixed Overhead $160,000 for the year Units Produced $20,000 Units Sold $18,000 IF we use absorption costing - what is the product cost / unit? How much cost would be added to ending inventory for the period. IF we use variable costing - what is the product cost / unit? How much cost would be added to ending inventory for the period?
Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SG&A) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SG&A Number of units produced per quarter Required: $ 60 1,500,000 4,500,000 9 12 10 6 500,000 units Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units is 500,000 per quarter. Also calculate if the number of units increases to 600,000 per quarter. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. a. Prime cost per unit b. Contribution margin per unit c. Gross margin per unit d. Conversion cost per unit e. Variable cost per unit f. Full absorption cost per unit g. Variable production cost per unit h. Full cost per unit 500,000 units 600,000 units