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Mustang Manufacturing Company established the following standard price and cost data: Mustang planned to...

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Question

Accounting

Mustang Manufacturing Company established the following standard price and cost data:
Mustang planned to produce and sell 20,000 units. Actual production and sales amounted to 21,500 units.
Required
a. How much is net income in the static budget?
b. How much is net income in the flexible budget?
Complete this question by entering your answers in the tabs below.
Required A
How much is net income in the static budget?
Fixed manufacturing cost
Fixed selling and administrative cost
Sales
Variable manufacturing cost
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