Help Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces Standard price and variable costa Sales price Materials cost Labor cost Overhead coat Selling, general, and administrative conta Planned fixed costa Manufacturing over head Selling, general, and administrative $ 90.00 18.00 9.00 12.60 14.40 $270,000 108,000 nt Narcisco planned to make and sell 30,000 copies of the book. Required a.-d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget Income statements, assuming production volumes of 29,000 and 31,000 units, Determine the sales and variable cost volume variances, assuming volume Is actually 31,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (l.. zero variance).) ences Vale Variancas Master Budget 30,000 Flexible Budgets 29,000 31,000 Number of units Variable manufacturing costs Fixed costs Narcisco planned to make and sell 30,000 coples of the book. Required a.-d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget Income statements, assuming production volumes of 29,000 and 31,000 units. Determine the sales and variable cost volume variances, assuming volume Is actually 31,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" If there is no effect (Le zero variance).) Volume Variances Master Budget 30,000 Flexible Budgets 29,000 Number of units 31,000 Variable manufacturing costs Fixed costs $ 05 0 0$ Saved Help Parcisco Publications established the following standard price and costs for a hardcover picture book that the company produces Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed conta Manufacturing overhead Selling, general, and administrative $ 90.00 18.00 9.00 12.60 14.40 $270,000 108,000 Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow. Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Actual fixed costs Manufacturing overhead Selling, general, and administrative $ 87.00 18.40 8.80 12.70 14.00 $250,000 116,000 Required a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable for unfavorable (U). (Select "None" If there is no effect (i.e., zero variance).) Flexible Budget Variances Sales revenue Variable manufacturing costs Materials Selling, general, and administrative coats Actual fixed costs Manufacturing overhead Selling, general, and administrative 8.80 12.70 14.00 $250,000 116,000 Required a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" If there is no effect (.e., zero variance).) Flexible Budget Variances Sales revenue Variable manufacturing costs Materials Labor Overhead Selling, general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general, and administrative costs Net Income Next > 2
