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  3. rooney manufacturing company established the follo

Rooney Manufacturing Company established the following standard price and cost data: \table[[Sales price,$8.30 per...

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Accounting

Rooney Manufacturing Company established the following standard price and cost data:
\table[[Sales price,$8.30 per unit],[Variable manufacturing cost,$3.80 per unit],[Fixed manufacturing cost,$2,300 total],[Fixed selling and administrative cost,$900 total]]
Rooney planned to produce and sell 2,100 units. Actual production and sales amounted to 2,300 units.
Assume that the actual sales price is $8.05 per unit and that the actual variable cost is $4.15 per unit. The actual fixed manufacturir cost is $1,700, and the actual selling and administrative costs are $920.
Required
a.&b. Determine the flexible budget variances and classify the effect of each variance by selecting favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance).
\table[[,\table[[Flexible Budget],[Variances]]],[Sales,,],[Variable manufacturing,,],[Contribution margin,,],[Fixed manufacturing,,],[Fixed selling and administrative cost,,],[Net income (loss),,]]
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