Exereise 8-1B Preparing master and Rexible budgets (LO &-1) Imboden Manufacturin

Question

Exereise 8-1B Preparing master and Rexible budgets (LO &-1) Imboden Manufacturing Company established the folowing standard price and cost data cost Fixed Fixed 32 500 Imboden planned to produce and sell 18,000 units. It actually produced and sold 19,000 units Reanired: b. Prepare the pro forma income statement that would appear in a flexuble buadgst Use the comribrsion a Prepare the pro forma income statement that would appear in a master budget Use the contribution margin format margin format Mastor Flexible Price/Cost Budget Budgot por Unit18.000 Units 19,000 Units ales Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and admin. Net income

Explanation / Answer

Answer 8-1B. Price / Cost Per Unit a. Master Budget 18,000 Units b. Flexible Budget 19,000 Units Sales                15.00                  270,000.00                 285,000.00 Variable Manufacturing                  7.00                  126,000.00                 133,000.00 Contribution Margin                  8.00                  144,000.00                 152,000.00 Fixed Manufacturing                     32,500.00                   32,500.00 Fixed Selling & Admin.                     24,000.00                   24,000.00 Net Income                     87,500.00                   95,500.00 As per Chegg Guidelines, you can ask one question at a time.

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