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Complete #1 and #2 using the following information:

Revenues and cost data for Madison Electronics, as of December 31, 2015 are as follows:

Revenues $ 2,300

Variable manufacturing costs 450

Fixed manufacturing costs 260

Variable nonmanufacturing costs 470

Fixed nonmanufacturing costs 380

• Prepare an income statement in the traditional format. (10 Points)
• Prepare an income statement in the contribution format. (10 Points)

	Division A	Division B	Division C
Division Revenues	5,600,000	1,500,000	4,200,000
Division Expenses	760,000	410,000	2,100,000
Current Assets	300,000	600,000	1,000,000
Long Term Assets	75,000	1,200,000	800,000
Required Rate of Return	12%	8%	6%

• Using the above data, calculate the Return on Investment (ROI) for each Division. (5 Points)
• Using the above data, calculate the Residual Income (RI) for each Division. (5 Points)

Remote Airplane Company manufactured 10,000 remote controlled airplanes for the month of February.

Actual Costs related to these 10,000 airplanes:

Direct material 22,200 yards of plastic

Direct material $28 per yard

Direct Labor hours 9,000

Direct labor $22 per hour

Variable manufacturing costs per hour $130,500

Variable manufacturing overhead hours 4,500

Standard Costs:

Direct material 20,000 yards of plastic

Direct material $30 per yard

Direct labor .8hr allowed per unit at $20 per hour

Variable manufacturing costs per hour $31.00

Variable manufacturing hours allowed per unit .4

Based on the above data:

• Calculate the Direct Materials Price Variance. Indicate Favorable or Unfavorable. (5 Points)
• Calculate the Direct Materials Quantity Variance. Indicate Favorable or Unfavorable. (5 Points)
• Calculate the Direct Labor Rate Variance. Indicate Favorable or Unfavorable. (5 Points)
• Calculate the Direct Labor Efficiency Variance. Indicate Favorable or Unfavorable. (5 Points)
• Calculate the Variable Overhead Spending Variance. Indicate Favorable or Unfavorable. (5 Points)

10. Calculate the Variable Overhead Efficiency Variance. Indicate Favorable or Unfavorable. (5 Points)

Arcade Company had the following budget, and results for producing and selling 910,000 video games.

	Budget amount	Actual Results for 910,000 Units
Sales	$50 Per unit	$43,850,000
Variable Costs	$29 Per Unit	$24,000,000
Fixed Manufacturing Costs	$6,700,000	$ 6,720,500
Fixed NonManufacturing Costs	$7,800,000	$ 7,562,000
Static Budget	800,000 units

11 .Prepare a schedule showing Flexible Budget for the 910,000 units of output, and the alternative

levels of output: 760,000 and 800,000. (10 Points)

• Calculate the Flexible Budget Variance. (10 Points)
• Calculate the Sales Volume Variance. (10 Points)
• Calculate the Static Budget Variance. (10 Points)