Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cherokee Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost

image text in transcribedimage text in transcribedimage text in transcribed

Cherokee Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $12.00 per unit $ 7.20 per unit $3,600 total $1,200 total Cherokee planned to produce and sell 2,000 units. Actual production and sales amounted to 2,200 units. Required a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U). d. Determine the amount of fixed cost that will appear in the flexible budget. e. Determine the fixed cost per unit based on planned activity and the fixed cost per unit based on actual activity. Complete this question by entering your answers in the tabs below. Req A and B Req D Req E Determine the sales and variable cost volume variances and classify the variances as favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Volume Variances Sales $ 26,400 U Variable manufacturing $ 15,180 F < Req A and B Req D >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Human Resource Management

Authors: John Ivancevich, Robert Konopaske

12th edition

9780077496906, 78029120, 77496906, 978-0078029127

More Books

Students also viewed these Accounting questions

Question

What other services do FIs provide to the financial system?

Answered: 1 week ago