Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

Franklin Manufacturing Company established the following standard price and cost data.
Sales price
Variable manufacturing cost
Fixed manufacturing cost
Fixed selling and administrative cost
$8.20 per unit
$3.20 per unit
$2,700 total
$900 total
Franklin planned to produce and sell 2,300 units. Actual production and sales amounted to 2,500 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
a. Determine the sales and variable cost volume variances.
b. Classify the variances as favorable (F) or unfavorable (U).
Note: Select "None" if there is no effect (i.e., zero variance).
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions