~ Messenger X Untitled8.PDF-1.p x 3 1 X Sales Variance X A (99+) (DOC) CPA X G computation of ir X PART 2 - Compre X + X C usl-tuguegarao.neolms.com/student_take_quiz_assignment/display/23886161?part=1&results=261510754 Apps W Module 1 Technolof PD Counseling Psychol.. V Electronic library. D.. SlidesCarnival: Best. @ Free Google Slides.. . W COVID-19 Is Changi. Reading list A Code 153 - Strategic Cost Management X 25 2 Q Drixler Rivera Assessments Pop up instructions On December 30, a fire destroyed most of the accounting records of the Lyle's division, a small one-product manufacturing division that uses standard costs and flexible budgets. All variances Teachers are written off as additions to (or deductions from) income; none are pro-rated to inventories. You Items have the task of reconstructing the records for the year. The general manager informs you that Item 1 Students the accountant has been experimenting with both absorption costing and variable costing. Item 2 Portfolio The following information is available for the current year: End of quiz Shortcuts a. Cash on hand, December 31 $10 b. Sales $128,000 C. Actual fixed indirect manufacturing costs 21,000 USL Library d. Accounts receivable, December 31 20,000 e . Standard variable manufacturing costs per unit f. Variances from standard of all variable manufacturing costs $5,000 U g. Operating income, absorption-costing basis $14,400 Get Help h . Accounts payable, December 31 18,000 i . Gross profit, absorption costing at standard (before deducting variances) 22,400 j . Total liabilities 100,000 K. Unfavorable budget variance, fixed manufacturing costs 1,000 U 1. Notes receivable from chief accountant 4,000 m. Contribution margin, at standard (before deducting variances) 48,000 n. Direct-material purchases, at standard prices 50,000 Actual selling and administrative costs (all fixed) 6 000 Type here to search 29 CD - ( ) ENG 4:11 pm O W 10/07/2021