Walton Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price 36.80 Materials cost 8.30 Labor cost 3.80 Overhead cost 6.10 Selling, general, and administrative costs 7.20 Planned fixed costs Manufacturing overhead $133,000 Selling, general and administrative 52,000 Assume that Walton actually produced and sold 30,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price 35.80 Materials cost 8.50 Labor cost 3.70 cost 6.15 Selling, general, and administrative costs 7.00 Actual fixed costs Manufacturing overhead 118,000 Selling, general and administrative 58,000

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04-05-2020
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Walton Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price 36.80 Materials cost 8.30 Labor cost 3.80 Overhead cost 6.10 Selling, general, and administrative costs 7.20 Planned fixed costs Manufacturing overhead $133,000 Selling, general and administrative 52,000 Assume that Walton actually produced and sold 30,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price 35.80 Materials cost 8.50 Labor cost 3.70 cost 6.15 Selling, general, and administrative costs 7.00 Actual fixed costs Manufacturing overhead 118,000 Selling, general and administrative 58,000

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yahayadanjuma55 yahayadanjuma55 · Answer 1 · 2020-05-06T03:27:52+02:00

Answer:

Explanation:

Master Flexible budgets Volume variance

Budget

Number of units 35,000 34,000 36,000

Sales revenue 1288000 1251200 1324800 36800 F

Variable manufacturing costs

material cost 311500 302600 320400 8900 U

labor cost 147000 142800 151200 4200 U

overhead cost 213500 207400 219600 6100 U

selling,general & administrative cost 217000 210800 223200 6200 U

contribution margin 399000 387600 410400 11400 U

fixed costs

manufacturing overhead 132000 132000 132000 0 N

selling,general & administrative cost 52,000 52,000 52,000 0 N

net operating income 215,000 203,600 226,400 11400 F

temmydbrain temmydbrain · Answer 2 · 2020-05-06T03:45:47+02:00

Answer:

Check the explanation

Explanation:

Walton Publications

Flexible Budget variance

Flexible Budget Actual results Variances

Units 30000 30000

Sales $11,04,000 $10,74,000 $30,000 U

Variable manufacturing costs:

Materials $2,49,000 $2,55,000 $6,000 U

Labor $1,14,000 $1,11,000 $3,000 F

Overhead $1,83,000 $1,84,500 $1,500 U

Selling, general and

administrative costs $2,16,000 $2,10,000 $6,000 F

Contribution Margin $3,42,000 $3,13,500 $28,500 U

Fixed costs:

Manufacturing Overhead$1,33,000 $1,18,000 $15,000 F

Selling, general and

administrative costs $52,000 $58,000 $6,000 U

Net Income $1,57,000 $1,37,500 $19,500 U