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Budget amount per unit | Master Budget | Flexible Budget | Volume Variance | ||||
Units | (q) | 31,000 | 30,000 | 32,000 | |||
Sales Revenue | $ 36.60 | $ 11,34,600 | $10,98,000 | $11,71,200 | $ 36,600 | F | |
Less: | Variable Manufacturing costs: | ||||||
Material | $ 8.50 | $ 2,63,500 | $ 2,55,000 | $ 2,72,000 | $ 8,500 | U | |
Labor | $ 3.80 | $ 1,17,800 | $ 1,14,000 | $ 1,21,600 | $ 3,800 | U | |
Manufacturing overheads | $ 5.60 | $ 1,73,600 | $ 1,68,000 | $ 1,79,200 | $ 5,600 | U | |
Variable selling general and administrative cost | $ 6.40 | $ 1,98,400 | $ 1,92,000 | $ 2,04,800 | $ 6,400 | U | |
Contribution margin | $ 3,81,300 | $ 3,69,000 | $ 3,93,600 | $ 12,300 | F | ||
Less: | Fixed Expenses | ||||||
Manufacturing overheads | $ 1,29,000 | $ 1,29,000 | $ 1,29,000 | $ - | None | ||
Fixed selling general and administrative cost | $ 50,000 | $ 50,000 | $ 50,000 | $ - | None | ||
Net Income | $ 2,02,300 | $ 1,90,000 | $ 2,14,600 | $ 12,300 | F |
Problem 15-20 Determining sales and variable cost volume variances LO 15-2, 15-3, 15-4 Vernon Publications established...
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Problem 15-20 Determining sales and variable cost volume variances LO 15-2, 15-3, 15-4 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 $ 36.50 Materials cost 8.70 Labor cost 4.20 Overhead cost 5.80 Selling, general, and administrative costs 6.90 Planned fixed costs Manufacturing overhead $ 129,000 Selling, general, and administrative 51,000 Zachary planned to make and sell 29,000 copies of the book. Required: a....
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