Find the values of the missing items. Assume that the actual sales volume equals

Question

Find the values of the missing items. Assume that the actual sales volume equals actual production volume. (There are no inventory level changes.) (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Reported Income Marketing and Administrative Variance Flexible Budget (2,300 units) Master Budget (2,400 units) Manufacturing Variance Sales Price Variance Sales Activity Variance (2,300 units) 117,300 S 121,900 Sales revenue Variable manufacturing costs Variable marketing and administrative S 3,450F 1,530 F 14.400 costs n margin 73,560

Explanation / Answer

Schedule :

Reported income statement (2300 units) Manufacturing variance Marketing and administrative variance Sale price vairance Flexible budget (2300 units) Sals activity variance Master budget (2400 units) Sales revenue 117300 4600 U 121900 5300 U 127200 Variable manufacturing costs 31740 3450 F 35190 1530 F 36720 Variable marketing and administrative costs 12000 1800 F 13800 600 F 14400 Contribution margin 73560 3450 F 1800 F 4600 U 72910 3170 U 76080

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