Determining and interpreting flexible budget variances Use the standard price and cost data suppli 1 answer below »

Determining and interpreting flexible budget variances Use the standard price and cost data supplied in problem 15-18. Assume that Holligan actually produced and sold 31,000 books. The actual sales price and costs incurred follow. Actual price and variable costs: Sales price $36.00 Materials $9.10 Labor $4.10 Overhead $6.20 General, selling, and administrative $6.10 Actual fixed costs: Manufacturing $120,000.00 General, selling, and administrative $55,000.00 a. Determine the flexible budget variances. Provide another name for the fixed cost flexible budget variance. b. Indicate whether each variance is favorable (F) or unfavorable (U). c. Identify the management position responsible for each variance. Explain what could have caused the variance.

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