03 Mar Cherokee Manufacturing Company established the fol
Cherokee Manufacturing Company established the following standard price and cost data: Sales price$12.00per unitVariable manufacturing cost$7.20per unitFixed manufacturing cost$3,600totalFixed selling and administrative cost$1,200totalCherokee planned to produce and sell 2,000 units. Actual production and sales amounted to 2,200 units.RequiredDetermine the sales and variable cost volume variances.Classify the variances as favorable (F) or unfavorable (U).Determine the amount of fixed cost that will appear in the flexible budget.Determine the fixed cost per unit based on planned activity and the fixed cost per unit based on actual activity.1. & 2.Determine the sales and variable cost volume variances and classify the variances as favorable (F) or unfavorable (U). (Select None if there is no effect (i.e., zero variance).)Volume VariancesSalesVariable Manufacturing3. Determine the amount of fixed cost that will appear in the flexible budget.Flexible BudgetFixed manufacturing costFixed selling and administrative costs4. Determine the fixed cost per unit based on planned activity and the fixed cost per unit based on actual activity. (Round your answers to 2 decimal places.)Master Budget Flexible BudgetFixed cost per unit
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