Adams Manufacturing Company established the following standard price and cost data. ...
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Accounting
Adams Manufacturing Company established the following standard price and cost data.
| Sales price | $ | 8.20 | per unit |
| Variable manufacturing cost | 3.70 | per unit | |
| Fixed manufacturing cost | 2,400 | total | |
| Fixed selling and administrative cost | 800 | total | |
Adams planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 units.
Required
Prepare the pro forma income statement in contribution format that would appear in a master budget.
Prepare the pro forma income statement in contribution format that would appear in a flexible budget.
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