need help with the incorrect answers Exercise 152 Preparing

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.

Solution

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