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 $130 00 per unit Raw Materials $32 20 per unit Direct Labor $40 50 per unit Overhead $18 70 per unit Planned fixed costs Manufacturing overhead $97,000 Selling, general and administrative costs $135,000 Edison Electronics actually produced and sold 9,700 sets of headphones for the year Actual sales and costs for the year were as follows Sales $1,240,300 Variable costs Raw Materials $325,600 Direct Labor $400,500 Overhead $176,400 Fixed costs Manufacturing overhead $100,500 Selling, general and administrative costs $131,800 Required Prepare the flexible budget showing the sales and each cost line as a separate line item Determine the sales and variable cost volume variances and indicate whether each variance is favorable or unfavorable 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

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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

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	$130.00 per unit
Raw Materials	$32.20 per unit
Direct Labor	$40.50 per unit
Overhead	$18.70 per unit
Planned fixed costs
Manufacturing overhead	$97,000
Selling, general and administrative costs	$135,000

Edison Electronics actually produced and sold 9,700 sets of headphones for the year. Actual sales and costs for the year were as follows:

Sales	$1,240,300
Variable costs
Raw Materials	$325,600
Direct Labor	$400,500
Overhead	$176,400
Fixed costs
Manufacturing overhead	$100,500
Selling, general and administrative costs	$131,800

Required:

Prepare the flexible budget showing the sales and each cost line as a separate line item.
Determine the sales and variable cost volume variances and indicate whether each variance is favorable or unfavorable.
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?