Attached are three problems that I must complete. I would like like the solution for each problem. I need to understand how you came up with the answer, so please show your work.

Managerial Accounting - MBA 520 Spring 1 2016: MBA 520-81 Spring 1 2016 Ch apter 8 - GR ADED - As s ign men t 1. Ashley Butterfield in s tr u ction s | h elp value: 33.33 poin ts Problem 8-18A Flexible budget planning LO 8-1 Curtis Salter, the president of Kasimer Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal year 2015. Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost Expected fixed costs Facility maintenance Selling, general, and administrative $ 75.00 40.00 7.20 4.30 $400,000 150,000 Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 30,000 hours of services in 2015. KASIMER COMPUTER SERVICES Pro Forma Income Statement Master Budget Variable costs: $ 0 $ 0 Fixed costs: b. A marketing consultant suggests to Mr. Salter that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Kasimer charges customers $70 per hour, the firm can achieve 38,000 hours of services. Prepare a flexible budget using the consultant's assumption. KASIMER COMPUTER SERVICES Pro Forma Income Statement Flexible Budget Variable costs: Fixed costs: c. The same consultant also suggests that if the firm raises its rate to $80 per hour, the number of service hours will decline to 25,000. Prepare a flexible budget using the new assumption. KASIMER COMPUTER SERVICES Pro Forma Income Statement Flexible Budget Variable costs: Fixed costs: References Worksheet Difficulty: 2 Medium Problem 8-18A Flexible budget planning LO 8-1 Learning Objective: 08-01 Describe flexible and static budgets. 2 016 M c G r aw - H i l l E d u c at i o n . A l l r i g h t s r e s e r v e d . Managerial Accounting - MBA 520 Spring 1 2016: MBA 520-81 Spring 1 2016 Ch apter 8 - GR ADED - As s ign men t 2. Ashley Butterfield in s tr u ction s | h elp value: 33.33 poin ts Problem 8-24A Determining materials price and usage variances LO 8-6 Logan Fruit Drink Company planned to make 200,000 containers of apple juice. It expected to use two cups of frozen apple concentrate to make each container of juice, thus using 400,000 cups of frozen concentrate. The standard price of one cup of apple concentrate is $0.60. Logan actually paid $249,550 to purchase 402,500 cups of concentrate, which was used to make 201,000 containers of apple juice. Required: b. Compute the actual price per cup of concentrate. (Round your answer to 2 decimal places.) Actual price per cup c. Compute the standard quantity (number of cups of concentrate) required to produce the containers. Standard quantity cups d. Compute the materials price variance and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Total price variance e. Compute the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Total usage variance References Worksheet Difficulty: 2 Medium Problem 8-24A Determining materials price and usage variances LO 8-6 Learning Objective: 08-06 Describe the features of a standard cost system and compute price and usage variances. 2 016 M c G r aw - H i l l E d u c at i o n . A l l r i g h t s r e s e r v e d . Managerial Accounting - MBA 520 Spring 1 2016: MBA 520-81 Spring 1 2016 Ch apter 8 - GR ADED - As s ign men t 3. Ashley Butterfield in s tr u ction s | h elp value: 33.34 poin ts Problem 8-25A Determining labor price and usage variances LO 8-6 Kalina's Doll Company produces handmade dolls. The standard amount of time spent on each doll is 2.0 hours. The standard cost of labor is $10 per hour. The company planned to make 8,000 dolls during the year but actually used 17,500 hours of labor to make 9,000 dolls. The payroll amounted to $172,375. Required: a. Should labor variances be based on the planned volume of 8,000 dolls or the actual volume of 9,000 dolls? The planned volume of 8,000 dolls The actual volume of 9,000 dolls b. Prepare a table that shows the standard labor price, the actual labor price, the standard labor hours, and the actual labor hours. (Round "Standard price" and "Actual price" to 2 decimal places.) Labor Variance Information Table Amounts Standard labor price Actual price per hour Standard hours for flexible budget Hrs. Actual hours used Hrs. c. Compute the labor price variance and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Total labor price variance d. Compute the labor usage variance and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Total labor usage variance References Worksheet Difficulty: 3 Hard Problem 8-25A Determining labor price and usage variances LO 8-6 Learning Objective: 08-06 Describe the features of a standard cost system and compute price and usage variances. 2 016 M c G r aw - H i l l E d u c at i o n . A l l r i g h t s r e s e r v e d