2.0p Which of the following statements about variances is correct? The sales-volume variance is due to using a different selling price from that budgeted. The sales-mix variance is favorable when the actual sales mix percentage is lower than the budgeted sales mix percentage. The sales-quantity variance is unfavorable when budgeted unit sales exceed actual unit sales. The sum of the sales-mix variance and the sales-quantity variance should equal the flexible-budget variance.

2.0p Which of the following statements about variances is correct? The sales-volume variance is due to using a different selling price from that budgeted. The sales-mix variance is favorable when the actual sales mix percentage is lower than the budgeted sales mix percentage. The sales-quantity variance is unfavorable when budgeted unit sales exceed actual unit sales. The sum of the sales-mix variance and the sales-quantity variance should equal the flexible-budget variance.

Name: 2.0pWhich of the following statementsabout variances is correct?The s
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Description: 2.0pWhich of the following statementsabout variances is correct?The sales-volume variance is dueto using a different selling pricefrom that budgeted.The sales-mix variance isfavorable when the actual salesmix percentage is lower than thebudgeted sal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Determine the flexible budget variance if the sales volume variance is $134,000 F and static - budget variance is $123,000 F. Indicate whether the variance is favourable or unfavourable. Do not enter dollar signs or commas in the input boxes. Enter the variance amount as a positive value.
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