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Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Campbell Publications established the following standard...
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Finch Publications established the following standard...
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Finch 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 8.80 $ Materials cost 4.20 Labor cost 5.30 Overhead cost Selling, general, and administrative costs Planned fixed costs 7.10 Manufacturing overhead Selling, general, and administrative $128,000 48,000 Assume that Finch actually produced and sold 20,000 books. The actual sales price and costs incurred follow:...
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Narcisco Publications established the following standard...
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price 90.00 Materials cost 18.00 Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 9.00 12.60 14,40 $270,000 108,000 Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow Actual...
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Baird Publications established the following standard...
Problem 15-21 Determining and interpreting flexible budget
variances LO 15-5
Baird Publications established the following standard price and
costs for a hardcover picture book that the company produces.
Standard price and variable costs
Sales price
$
36.90
Materials cost
8.60
Labor cost
3.60
Overhead cost
5.90
Selling, general, and administrative costs
7.00
Planned fixed costs
Manufacturing overhead
$
128,000
Selling, general, and administrative
53,000
Assume that Baird actually produced and sold 27,000 books. The
actual sales price and costs incurred...
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Fanning Publications established the following standard...
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Fanning Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price $ 36.70 Materials cost 8.10 Labor cost 4.40 Overhead cost 5.50 Selling, general, and administrative costs 6.80 Planned fixed costs Manufacturing overhead $ 130,000 Selling, general, and administrative 48,000 Assume that Fanning actually produced and sold 31,000 books. The actual sales price and costs incurred...
Narcisco Publications established the following standard price and costs for a hardcover picture book that the...
Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces. $ Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 90.00 18.00 9.00 12.60 14.40 $270,000 108,000 Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow. Actual price and variable costs Sales price Materials cost Labor...
Zachary Publications established the following standard price and costs for a hardcover picture book that the...
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 Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.30 8.10 3.50 6.20 7.10 $ 130,000 52,000 Assume that Zachary actually produced and sold 25,000 books. The actual sales price and costs incurred follow: $ Actual price and variable costs Sales price Materials...
Gibson Publications established the following standard price and costs for a hardcover picture book that the...
Gibson Publications established the following standard price and costs for a hardcover picture book that the company produces. $ Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.10 8.10 3.70 6.10 7.10 $131,000 49,000 Assume that Gibson actually produced and sold 34,000 books. The actual sales price and costs incurred follow: $ Actual price and variable costs Sales price Materials cost...
Problem 8-21A Determining and interpreting flexible budget variances Use the standard price and cost data supplied...
Problem 8-21A Determining and
interpreting flexible budget variances
Use the standard price and cost data supplied in Problem 8-20A.
Assume that Narcisco actually produced and sold 32,000 books. The
actual sales price and costs incurred follow.
Required
Determine the flexible budget variances. Provide another name
for the fixed cost flexible budget variances.
Indicate whether each variance is favorable (F) or unfavorable
(U).
Identify the management position responsible for each variance.
Explain what could have caused the variance.
Problem 8-20A Determining...
Vernon Publications established the following standard price and costs for a hardcover picture book that the...
Vernon Publications established the following standard price and costs for a hardcover picture book that the company produces. $ Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.80 9.00 3.70 6.10 6.90 $127,000 47,000 Assume that Vernon actually produced and sold 26,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price Materials cost Labor...
Finch Publications established the following standard price and costs for a hardcover picture book that the...
Finch Publications established the following standard price and
costs for a hardcover picture book that the company produces.
Standard price and variable costs
Sales price
$
36.80
Materials cost
8.60
Labor cost
4.10
Overhead cost
5.90
Selling, general, and administrative costs
6.60
Planned fixed costs
Manufacturing overhead
$
129,000
Selling, general, and administrative
53,000
Assume that Finch actually produced and sold 22,000 books. The
actual sales price and costs incurred follow:
Actual price and variable costs
Sales price
$
35.80...
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Finch 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 8.80 $ Materials cost 4.20 Labor cost 5.30 Overhead cost Selling, general, and administrative costs Planned fixed costs 7.10 Manufacturing overhead Selling, general, and administrative $128,000 48,000 Assume that Finch actually produced and sold 20,000 books. The actual sales price and costs incurred follow:...
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price 90.00 Materials cost 18.00 Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 9.00 12.60 14,40 $270,000 108,000 Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow Actual...
Problem 15-21 Determining and interpreting flexible budget
variances LO 15-5
Baird Publications established the following standard price and
costs for a hardcover picture book that the company produces.
Standard price and variable costs
Sales price
$
36.90
Materials cost
8.60
Labor cost
3.60
Overhead cost
5.90
Selling, general, and administrative costs
7.00
Planned fixed costs
Manufacturing overhead
$
128,000
Selling, general, and administrative
53,000
Assume that Baird actually produced and sold 27,000 books. The
actual sales price and costs incurred...
Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces. $ Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 90.00 18.00 9.00 12.60 14.40 $270,000 108,000 Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow. Actual price and variable costs Sales price Materials cost Labor...
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 Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.30 8.10 3.50 6.20 7.10 $ 130,000 52,000 Assume that Zachary actually produced and sold 25,000 books. The actual sales price and costs incurred follow: $ Actual price and variable costs Sales price Materials...
Gibson Publications established the following standard price and costs for a hardcover picture book that the company produces. $ Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.10 8.10 3.70 6.10 7.10 $131,000 49,000 Assume that Gibson actually produced and sold 34,000 books. The actual sales price and costs incurred follow: $ Actual price and variable costs Sales price Materials cost...
Problem 8-21A Determining and
interpreting flexible budget variances
Use the standard price and cost data supplied in Problem 8-20A.
Assume that Narcisco actually produced and sold 32,000 books. The
actual sales price and costs incurred follow.
Required
Determine the flexible budget variances. Provide another name
for the fixed cost flexible budget variances.
Indicate whether each variance is favorable (F) or unfavorable
(U).
Identify the management position responsible for each variance.
Explain what could have caused the variance.
Problem 8-20A Determining...
Vernon Publications established the following standard price and costs for a hardcover picture book that the company produces. $ Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.80 9.00 3.70 6.10 6.90 $127,000 47,000 Assume that Vernon actually produced and sold 26,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price Materials cost Labor...
Finch Publications established the following standard price and
costs for a hardcover picture book that the company produces.
Standard price and variable costs
Sales price
$
36.80
Materials cost
8.60
Labor cost
4.10
Overhead cost
5.90
Selling, general, and administrative costs
6.60
Planned fixed costs
Manufacturing overhead
$
129,000
Selling, general, and administrative
53,000
Assume that Finch actually produced and sold 22,000 books. The
actual sales price and costs incurred follow:
Actual price and variable costs
Sales price
$
35.80...
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