Lloyd publications established the following standard price and costs for a hardcover picture book that the company produces. standard price and variable costs sales price $ 45.00 materials cost 9.00 labor cost 4.50 overhead cost 6.30 selling, general, and administrative costs 7.20 planned fixed costs manufacturing overhead $ 135,000 selling, general, and administrative 54,000 assume that lloyd actually produced and sold 32,000 books. the actual sales price and costs incurred follow. actual price and variable costs sales price$ 43.50 materials cost9.20 labor cost4.40 overhead cost6.35 selling, general, and administrative costs7.00 actual fixed costs manufacturing overhead$ 125,000 selling, general, and administrative58,000 required: 1. prepare a pro forma income statement that would appear in the master budget 2. prepare the flexible budget income statement assuming production volumes or 29,000 and 31,000 units

The law firm of furlan and benson accumulates costs associated with individual cases, using a job order cost system. the following transactions occurred during july: jul. 3 charged 175 hours of professional (lawyer) time to the obsidian co. breech of contract suit to prepare for the trial, at a rate of $150 per hour. 10 reimbursed travel costs to employees for depositions related to the obsidian case, $12,500. 14 charged 260 hours of professional time for the obsidian trial at a rate of $185 per hour. 18 received invoice from consultants wadsley and harden for $30,000 for expert testimony related to the obsidian trial. 27 applied office overhead at a rate of $62 per professional hour charged to the obsidian case. 31 paid administrative and support salaries of $28,500 for the month. 31 used office supplies for the month, $4,000. 31 paid professional salaries of $74,350 for the month. 31 billed obsidian $172,500 for successful defense of the case. required: a. provide the journal entries for each of these transactions. refer to the chart of accounts for exact wording of account titles. b. how much office overhead is over- or underapplied? c. determine the gross profit on the obsidian case, assuming that over- or underapplied office overhead is closed monthly to cost of services.