= ACT204 Spring 2020 Test 3 F SALS EUBLY ZOLMes-2 VARIE Fons Help Last edit was 3 hours ago alibri - 11 - BIVA DEL E IE EE - E3 x - 5 - - 6 7 1. Edison Electronics produces wireless headphones. Management planned to make and sell 9,000 sets of headphones during the year and determined the standard price and cost data to be as follows: Standard price and variable costs Sales Raw Materials Direct Labor Overhead Planned fixed costs Manufacturing overhead Selling, general and administrative costs $135.00 per unit $33.20 per unit $42.50 per unit $19.70 per unit $98.000 $138,000 8 Edison Electronics actually produced and sold 9,700 sets of headphones for the year. Actual sales and costs for the year were as follows: $1,285,300 Sales Variable costs Raw Materials Direct Labor Overhead Fixed costs Manufacturing overhead Selling, general and administrative SI $335,600 $405,500 $180,400 $102,500 $134,800 Required: a. Prepare the static budgeted income statement showing the sales and each cost line as a separate line item in the income statement (note-amounts in the budgeted income statement should be the extended amounts and not the per unit prices and costs) b. Compare the actual income statement amounts with the amounts in the budgeted income statement and determine the amount of each variance and indicate whether each variances favorable or unfavorable = ACT204 Spring 2020 T 03 Fi s Help or Last edit was 3 hours ago 11 BIVA OD MET IEEE.EE Standard price and variable costs Sales Raw Materials Direct Labor Overhead Planned fixed costs . Manufacturing overhead Selling, general and administrative costs $135.00 per unit $33.20 per unit $42.50 per unit $19.70 per unit $98,000 $138,000 9,700 sets of headphones for the year. Actual sales and costs for the year were as follows: $1,285,300 Sales Variable costs Raw Materials Direct Labor Overhead Fixed costs Manufacturing overhead Selling, general and administrative costs $335,600 $405,500 $180,400 $102,500 $134 800 Required: a. Prepare the static budgeted income statement showing the sales and each cost line as a separate line item in the income statement (note-amounts in the budgeted income statement should be the extended amounts and not the per unit prices and costs). b. Compare the actual income statement amounts with the amounts in the budgeted income statement and determine the amount of each variance and indicate whether each variance is favorable or unfavorable. 2. Using the information provided in Problem No. 1 above related to Edison Electronics, perform the following managerial accounting analysis: Required: a. Prepare the flexible budget showing the sales and each cost line as a separate line item. b. Determine the sales and variable cost volume variances and indicate whether each variance is favorable or unfavorable. = ACT204 Spring 2020 Test 3 Fi ins Help Last edit was 3 hours ago bri - 11 - BTUA D E 13 EE-EEX 3. Using the information from Problem No. 1 and Problem No. 2 above related to Edison Electronics, perform the following managerial analysis: Required: a Determine the flexible budget (spending) variances and indicate whether each variance is favorable or unfavorable. . If budgeted operating assets were $750,000 and actual operating assets were $745,000, what was the budgeted return on investment and what was the actual return on investment for Edison Electronics