Cherokee manufacturing company established the following standard price and cost data: sales price $ 12.00 per unit variable manufacturing cost $ 7.20 per unit fixed manufacturing cost $ 3,600 total fixed selling and administrative cost $ 1,200 total cherokee planned to produce and sell 2,000 units. actual production and sales amounted to 2,200 units. required determine 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.

The struter partnership has total partners’ equity of $510,000, which is made up of main, capital, $400,000, and frist, capital, $110,000. the partners share net income and loss in a ratio of 80% to main and 20% to frist. on november 1, adison is admitted to the partnership and given a 15% interest in equity and a 15% share in any income and loss. prepare journal entries to record the admission of adison for a 15% interest in the equity and a 15% share in any income and loss under the following independent assumptions. (1) record the admission of adison with an investment of $90,000 for a 15% interest in the equity and a 15% share in any income and loss. (2) record the admission of adison with an investment of $120,000 for a 15% interest in the equity and a 15% share in any income and loss. (3) record the admission of adison with an investment of $80,000 for a 15% interest in the equity and a 15% share in any income and loss.