{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T02:46:40-04:00", "answer_date": "2024-06-29 02:46:40", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4452322", "url": "\/study-help\/questions\/thornton-publications-established-the-following-standard-price-and-costs-for-4452322", "question_creation_date_js": "2024-06-29T02:46:40-04:00", "question_creation_date": "Jun 29, 2024 02:46 AM", "meta_title": "[Solved] Thornton Publications established the fol | SolutionInn", "meta_description": "Answer of - Thornton Publications established the following standard price and costs for a hardcover picture book that the company | SolutionInn", "meta_keywords": "thornton,publications,established,standard,price,costs,hardcover,picture,book,company,produces,variable", "question_title_h1": "Thornton Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price", "question_title": "Thornton Publications established the following standard price and costs for a hardcover", "question_title_for_js_snippet": "Thornton Publications established the following standard price and costs for a hardcover picture book that the company produces Standard price and variable costs Sales price $ 36 60 Materials cost 8 70 Labor cost 3 60 Overhead cost 6 10 Selling, general, and administrative costs 7 00 Planned fixed costs Manufacturing overhead $135, 000 Selling, general, and administrative 54, 000 Assume that Thornton actually produced and sold 21,000 books The actual sales price and costs incurred follow Actual price and variable costs Sales price $ 35 60 Materials cost 8 90 Labor cost 3 50 Overhead cost 6 15 Selling, general, and administrative costs 6 80 Actual fixed costs Manufacturing overhead $120, 000 Selling, general, and administrative 60, 000 Required a b Determine the flexible budget variances and also Indicate whether each variance is favorable (F) or unfavorable (U) (Select None if there is no effect (i e , zero variance) )Flexible Budget Variances Sales revenue U Variable manufacturing costs Materials Labor Overhead C TICTIC Variable selling, general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general, and administrative costs C C T Net income", "question_description": "
\"image\"image<\/div><\/div><\/div><\/figure> Thornton Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price $ 36.60 Materials cost 8.70 Labor cost 3.60 Overhead cost 6.10 Selling, general, and administrative costs 7.00 Planned fixed costs Manufacturing overhead $135, 000 Selling, general, and administrative 54, 000 Assume that Thornton actually produced and sold 21,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price $ 35.60 Materials cost 8.90 Labor cost 3.50 Overhead cost 6.15 Selling, general, and administrative costs 6.80 Actual fixed costs Manufacturing overhead $120, 000 Selling, general, and administrative 60, 000 Required a. & b. Determine the flexible budget variances and also Indicate whether each variance is favorable (F) or unfavorable (U). (Select \"None\" if there is no effect (i.e., zero variance).)Flexible Budget Variances Sales revenue U Variable manufacturing costs Materials Labor Overhead C TICTIC Variable selling, general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general, and administrative costs C C T Net income", "transcribed_text": "", "related_book": { "title": "Accounting Principles", "isbn": "1119491630, 978-1119491637, 978-0470534793", "edition": "10th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/54.jpg", "uri": "\/textbooks\/accounting-principles-10th-edition-54", "see_more_uri": "" }, "free_related_book": { "isbn": "0199668493", "uri": "\/textbooks\/medieval-literature-1st-edition-9780199668496", "name": "Medieval Literature", "edition": "1st Edition" }, "question_posted": "2024-06-29 02:46:40", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/determine-the-location-x-y-of-the-particle-m1-so", "description": "Determine the location (x, y) of the particle M1 so that the three particles, which lie in the xy plane, have a center of mass located at the origin O. 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In the graph of the production function that follows, this concept of productivity...", "stars": 3.5 }, { "url": "\/study-help\/questions\/required-information-ex-229-algo-schedules-of-cost-of-goods-8226813", "description": "Required information EX 2-29 (Algo) Schedules of Cost of Goods Manufactured and Sold; Income Statement (LO 2-1, 2-3, 2-6) Skip to question [The following information applies to the questions...", "stars": 3.5 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/total-three-pages-each-question-must-be-answered-in-a-4452321", "next": "\/study-help\/questions\/a-branch-office-or-business-segment-that-shows-negative-operating-4452323" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Thornton Publications established the following standard price and costs for a hardcover", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/thornton-publications-established-the-following-standard-price-and-costs-for-4452322" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }} }