4 Munoz Manufacturing Company established the following standard price and cost data: 2 posts Balus price Variable manufacturing cost Fixed manufacturing cont Tiad welling and administrative cost $8.50 per unit $ 3.50 per unit 32.300 total 5 700 total Munoz planned to produce and sell 2,400 units. Actual production and sales amounted to 2.500 units Assume that the actual sales price is $8:15 per unit and that the actual variable cost is $3.70 per unit. The actual fixed manufacturing cost is $2,000, and the actual selling and administrative costs are $725. Required Eb. Determine the flexible budget variances and classify the effect of each variance by selecting favorable For untavorable it). (Select "None" if there is no effect (le, zero variance).) Answer is complete but not entirely correct. Flexible Budget Variances Sale $ 20,375F Var manufacturing 9.250U Con mag 11.125 Fed manuachung 2.000 QU Foedseling and administrative Gout 725 u Net incomes 8.400 u OOOOO ME 2 points Sales price Variable manufacturing cost Fixed manufacturing cont Pised selling and administrative coat $ 8.50 per unit $ 3.50 per unit $2,300 total $ 700 total Munoz planned to produce and sell 2,400 units. Actual production and sales amounted to 2.500 units Assume that the actual sales price is $8.15 per unit and that the actual variable cost is $3.70 per unit. The actual fixed manufacturing cost is $2,000, and the actual selling and administrative costs are $725 Required 2.&b. Determine the flexible budget variances and classify the effect of each variance by selecting favorable ar unfavorable (U) (Select "None" if there is no effect (ie, zero variance).) Answer is complete but not entirely correct. Flexible Budget Variances Sales $ 20.375 F Variable manufacturing 9,250 U Contribution margin 11,125 F Fired manufacturing 2.000 U Fixed selling and administrative 725 U cost Net income poss) $ 8.400U OOO Munoz Manufacturing Company established the following standard price and cost data: sales price Variable manufacturing cost Fixed manufacturing cost Tixed selling and administrative cont $ 8.50 per unit $ 3.50 per unit $2,300 total $ 700 total Munoz planned to produce and sell 2,400 units. Actual production and sales amounted to 2,500 units. Assume that the actual sales price is $8.15 per unit and that the actual variable cost is $3.70 per unit. The actual fixed manufacturing cost is $2,000, 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). Select "None" if there is no effect (.e., zero variance).) Sales Variable manufacturing Contribution margin Faced manufacturing Foed selling and administrative cost. Net income oss) Flexible Budget Variances U u Tu (300) F 250
