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Please help with my accounting homework Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Jordan Publications established the following standard price and costs
Please help with my accounting homework
Problem 15-21 Determining and interpreting flexible budget variances LO 15-5 Jordan 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 $ 36.20 B.30 3.90 6.00 6.30 Planned fixed coste Manufacturing overhead $125,000 44,000 Selling, general, and administrative Assume that Jordan actually produced and sold 36,000 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 $ 35.20 B.50 3.80 6.05 6.10 Actual fixed costs Manufacturing overhead Selling, general, and adminietrative $110,000 50,000 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 i.e., zero variance).) Flexlble Budget Variances Sales revenue Variable manufacturing costs Labor Overhead Selling, general,and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general, and administrative costs Net incomeStep by Step Solution
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