Lloyd Publications established the following standard price and costs for a hardcover picture book that the company produces.

Standard price and variable costs
Sales price $ 37.00
Materials cost 8.30
Labor cost 3.70
Overhead cost 6.30
Selling, general, and administrative costs 6.90
Planned fixed costs
Manufacturing overhead $ 133,000
Selling, general, and administrative 47,000
Assume that Lloyd actually produced and sold 36,000 books. The actual sales price and costs incurred follow.

Actual price and variable costs
Sales price $ 36.00
Materials cost 8.50
Labor cost 3.60
Overhead cost 6.35
Selling, general, and administrative costs 6.70
Actual fixed costs
Manufacturing overhead $ 118,000
Selling, general, and administrative 53,000

Required:

a. & b.

Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i. e., zero variance).)

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

Paying attention to the purpose of her speech, which questions can she eliminate? a. 1 and 2 b. 3 c. 2 and 4 d. 1-4

Differentiate between the trait, behavioral, and results-based performance appraisal systems, providing an example where each would be most applicable.