Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN: 9781305961883
Author: Carl Warren
Publisher: Cengage Learning
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Question

Campbell Manufacturing Company established the following standard price and cost data:

 

       
Sales price $ 8.70 per unit
Variable manufacturing cost $ 3.60 per unit
Fixed manufacturing cost $ 2,600 total
Fixed selling and administrative cost $ 600 total
 

 

Campbell planned to produce and sell 2,600 units. Actual production and sales amounted to 2,800 units.

 

Assume that the actual sales price is $8.35 per unit and that the actual variable cost is $3.75 per unit. The actual fixed manufacturing cost is $2,000, and the actual selling and administrative costs are $630.

 

Required

a.&b. Determine the flexible budget variances and classify the variances by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)

Sales Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and administrative cost Net income (loss) Flexible Budget Variances
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Transcribed Image Text:Sales Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and administrative cost Net income (loss) Flexible Budget Variances
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