Jordan Manufacturing Company established the following standard price and cost data:

Sales price $ 8.40 per unit

Variable manufacturing cost $ 3.50 per unit

Fixed manufacturing cost $ 2,600 total

Fixed selling and administrative cost $ 700 total

Jordan planned to produce and sell 2,700 units. Actual production and sales amounted to 3,000 units.

Assume that the actual sales price is $8.05 per unit and that the actual variable cost is $3.75 per unit. The actual fixed manufacturing cost is $2,400, and the actual selling and administrative costs are $740. Required a.&b. Determine the flexible budget variances and classify the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)

Answer is complete but not entirely correct. Flexible Budget Sales Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and administrative Variances $ (1,470) U (1,800) U (3,270) X U (200)F 40 U $ (3,430) U cost Net income (loss) Answer is complete but not entirely correct. Flexible Budget Sales Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and administrative Variances $ (1,470) U (1,800) U (3,270) X U (200)F 40 U $ (3,430) U cost Net income (loss)