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Please complete the charts listed below? Franklin Manufacturing Company established the following standard price and cost data. Sales price $ 8.80 per unit Variable manufacturing
Please complete the charts listed below?
Franklin Manufacturing Company established the following standard price and cost data.
Sales price $ 8.80 per unit Variable manufacturing cost 3.90 per unit Fixed manufacturing cost 2, 400 total Fixed selling and administrative cost 800 totalRequired A Required B Prepare the pro forma income statement in contributien format that would appear in a master budget. Required A Required B Prepare the pro forrna income statement in contribution format that would appear in a exible budget. Item Budget Actual Variance For U Sales price 531 662 Sales revenue $ 612,000 $ 586,000 Cost of goods sold $ 366,000 394,000 Material purchases at 5,000 pounds $ 289,000 $ 281,000 Materials usage 184,000 Ibs 189,000 Ibs lbs Production volume 930 units 1,010 units units Wages at 4,000 hours $ 59,300 61,200 Labor usage at $16 per hour 98,200 96.600 Research and development expense $ 34,000 $ 28,000 Selling and administrative expenses $ 46.000 58,000Sales price $ 8.50 per unit Variable manufacturing cost $ 3.10 per unit Fixed manufacturing cost $2, 300 total Fixed selling and administrative cost $ 600 totalReq A and B Req D Req E Determine the sales and variable cost volume variances and classify the variances as favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Volume Variances a. Sales 69 810 U b. Variable manufacturing $ 540 UDetermine the amount of fixed cost that will appear in the exible budget. Fixed manufacturing cost $ Bill] Fixed selling and administrative costs Req A and B Req D Req E Determine the fixed cost per unit based on planned activity and the fixed cost per unit based on actual activity. (Round your answers to 2 decimal places.) Master Budget |Flexible Budget Fixed cost per unita. Current residual income New residual income b. Should Monarch Division make the investmentStep by Step Solution
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