Harlow Parts produces a single product at its Superior Plant. The master budget for July follows:...

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Harlow Parts produces a single product at its Superior Plant. The master budget for July follows: Harlow Parts Superior Plant Master Budget (For July) Quantity Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit 8,100 $ 1,539,000 583,200 97,200 $ 858,600 202,000 360,000 $ 296,600 The following operating income statement shows the actual results for July: Harlow Parts Superior Plant Operating Results (For July) Quantity (units) Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin. Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit 9,500 $ 1,735,800 740,394 110,040 $ 885,366 213,040 370,000 $ 302,326 Required: Prepare a profit variance analysis for the Superior Plant for July. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Harlow Parts produces a single product at its Superior Plant. The master budget for July follows: Harlow Parts Superior Plant Master Budget (For July) Quantity Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit 8,100 $ 1,539,000 583,200 97,200 $ 858,600 202,000 360,000 $ 296,600 The following operating income statement shows the actual results for July: Harlow Parts Superior Plant Operating Results (For July) Quantity (units) Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin. Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit 9,500 $ 1,735,800 740,394 110,040 $ 885,366 213,040 370,000 $ 302,326 Required: Prepare a profit variance analysis for the Superior Plant for July. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

Answer rating: 100% (QA)

SOLUTION To prepare a profit variance analysis for the Superior Plant for July we need to calculate and analyze the variances between the master budget and the actual results Heres how we can do that ... View the full answer