need help with the incorrect answers Exercise 15-2 Preparing master and flexible

Question

need help with the incorrect answers

Exercise 15-2 Preparing master and flexible budgets LO 15-2 Baird Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $8.60 per unit 3.90 per unit $2,800 total $ 900 total Baird planned to produce and sell 2,200 units. Actual production and sales amounted to 2,400 units Required a. Prepare the pro forma income statement in contribution format that would appear in a master budget. b. Prepare the pro forma income statement in contribution format that would appear in a flexible budget. 3 Answer is complete but not entirely correct.

Explanation / Answer

a) Master budget :

b) Flexible budget :

Master budget 2200 Units Sales 18920 Variable manufacturing 8580 Contribution margin 10340 Fixed manufacturing 2800 Fixed selling and administrative 900 Total fixed cost 3700 Net income 6640

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