Perez Publications established the following standard price and costs for a hardcover picture book that the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Perez 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 8.20 Labor cont 4.20 Overhead cost 6.20 Selling, general, and administrative costs Planned fixed costs 6.60 Manufacturing overhead Selling, general, and administrative $129,000 48,000 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).) Master Budget Flexible Budgets Volume Varlances Number of units 29,000 28,000 30,000 Variable manufacturing costs Fixed costs Perez 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 8.20 Labor cont 4.20 Overhead cost 6.20 Selling, general, and administrative costs Planned fixed costs 6.60 Manufacturing overhead Selling, general, and administrative $129,000 48,000 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).) Master Budget Flexible Budgets Volume Varlances Number of units 29,000 28,000 30,000 Variable manufacturing costs Fixed costs
Expert Answer:
Answer rating: 100% (QA)
Flexible Budget variance master Flexible budget Volume variance budget number o... View the full answer
Related Book For
Valuation The Art and Science of Corporate Investment Decisions
ISBN: 978-0133479522
3rd edition
Authors: Sheridan Titman, John D. Martin
Posted Date:
Students also viewed these accounting questions
-
Prepare a pro forma income statement and balance sheet for Webb Enterprises Where revenues are expected to grow by 20% in 2016. Make the following assumptions in making your forecast of the firms...
-
Determining sales and variable cost volume variances Vlascenko Food Corporation developed the following standard price and costs for a refrigerated TV dinner that the company produces. Vlascenko...
-
Prepare a Pro Forma Income Statement Net Sales = 2,938 COGS = 1,598 SG&A = 475 Depreciation = 45 Interest Exp = 32 Tax = 15%. Net Sales Cost Of Goods Sold Gross Profit Selling & Admin Exp...
-
Phoenix Corp. faltered in the recent recession but is recovering. Free cash flow has grown rapidly. Forecasts made in 2016 are as follows. Phoenix's recovery will be complete by 2021, and there will...
-
Repeat problem 6, but close the position on September 20. Use the spreadsheet to find the profits for the possible stock prices on September 20. Generate a graph and use it to identify the...
-
You are asked to optimize a cache design for the given references. There are three direct-mapped cache designs possible, all with a total of 8 words of data: C1 has 1-word blocks, C2 has 2-word...
-
Listed below are SAT scores from a sample of students (based on data from www.talk.collegeconfidential.com). Why is it that a graph of these data will not be very effective in helping us understand...
-
Consider the two tables shown in Figure 6.37: Figure 6.37 Relations SALES_REP and TERRITORY a. If a DBMS enforces an UPDATE RESTRICT option on the referential integrity constraint between SALES_REP...
-
The Excel file shows the number of jobs in thousands in the year 2000 and projections made for 2010 from a government study. Use the Excel file to compute the projected increase from the 2000...
-
Pulsar Optics produces medical lasers for use in hospitals. The accounts and their balances appear in the ledger of Pulsar Optics on April 30 of the current year as follows: Preferred 1% Stock, $120...
-
Cristina is interested in adding earthquake coverage to her homeowners policy.Because she lives in what been recognized as a high-risk area. If she is able to obtain earthquake insurance, she is...
-
For each question, fill in the blank, and sketch your solution process and any necessary explanations. The three questions use this case: This month, Candel Gym has sales of $300,000, contribution...
-
A swimmer heading directly across a river 200 m wide reaches the opposite bank in 4.0 min 35 s. She is swept downstream 460 m. What is the speed of the current (in m/s)? Your Answer: Answer
-
Delete the root node value of the BST and replace the root value with the appropriate value of the existing BST. [2] Perform the BST status check by doing an In-Order Traversal of the BST such that...
-
Project Recovery Scenarios Instructions: Even the best project managers can't keep every project on track so it is important to know how to recover your projects. Using your analytical skills and...
-
Customer satisfaction can be quantified by Question 14 options: Perceived performance divided by actual performance. Actual performance divided by expected performance. Perceived performance divided...
-
16. Calculate the interest on $30,000 at 8% compounded monthly for 6 years.
-
One of the significant and relevant accounts for this cycle is equipment. For this account, what would typically be the most relevant assertions for the auditor to consider? Why is it important for...
-
The Emerson Electric Company (EMR) was founded in 1890 and is located in St. Louis, Missouri. The firm provides product technologies and engineering services for industrial, commercial, and consumer...
-
A number of industrial products include gold and silver as a component because they have very good conductive properties. The S& M Smelting Company engages in the recovery of gold from such products...
-
At the end of 2013, the executives at Appleevaluated a number of competitive threats to their very profitable iPhone business and decided that the iPhone 6 would need to exhibit some fundamental...
-
Which strategy for entering a new international market should (a) an architectural design firm, (b) an online discount broker, and (c) a satellite TV channel consider, and why?
-
How can a firm design perceived control into a service encounter? Apply it to one face-to-face and one online encounter.
-
Give examples of how Internet and telecommunications technologies (e.g., mobile commerce [M-Commerce] and apps) have changed some of the services you use.
Study smarter with the SolutionInn App