Finch Manufacturing Company established the following standard price and cost data: Sales price Variable manufacturing cost...

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Finch Manufacturing Company established the following standard price and cost data: Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.20 per unit $ 3.80 per unit $ 2,400 total $ 700 total Finch planned to produce and sell 2,100 units. Actual production and sales amounted to 2,300 units. Assume that the actual sales price is $7.80 per unit and that the actual variable cost is $4.00 per unit. The actual fixed manufacturing cost is $2,100, and the actual selling and administrative costs are $725. Required a.&b. Determine the flexible budget variances and classify 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 Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and administrative cost Net income (loss) Flexible Budget Variances Finch Manufacturing Company established the following standard price and cost data: Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.20 per unit $ 3.80 per unit $ 2,400 total $ 700 total Finch planned to produce and sell 2,100 units. Actual production and sales amounted to 2,300 units. Assume that the actual sales price is $7.80 per unit and that the actual variable cost is $4.00 per unit. The actual fixed manufacturing cost is $2,100, and the actual selling and administrative costs are $725. Required a.&b. Determine the flexible budget variances and classify 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 Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and administrative cost Net income (loss) Flexible Budget Variances

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To solve this problem we need to calculate the flexible budget variances for each cost component and classify the effect as favorable F or unfavorable ... View the full answer