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A company uses standard marginal costing. Last month the standard contribution on actual sales was $10,000 and the following variances arose: Total variable costs variance Sales price variance Sales volume contribution variance $ 2,000 Adv 500 Fav 1,000 Adv What was the actual contribution for last month? $7,000 $8,000 $8,500 $7,500

A company uses standard marginal costing. Last month the standard contribution on actual sales was $10,000 and the following variances arose: Total variable costs variance Sales price variance Sales volume contribution variance $ 2,000 Adv 500 Fav 1,000 Adv What was the actual contribution for last month? $7,000 $8,000 $8,500 $7,500

FINANCIAL ACCOUNTING
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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A company uses standard marginal costing. Last month the standard contribution on actual sales was $10,000 and the following variances arose: Total variable costs variance Sales price variance Sales volume contribution variance 2,000 Adv 500 Fav 1,000 Adv What was the actual contribution for last month? $7,000 $8,000 $8,500 $7,500
Transcribed Image Text:A company uses standard marginal costing. Last month the standard contribution on actual sales was $10,000 and the following variances arose: Total variable costs variance Sales price variance Sales volume contribution variance 2,000 Adv 500 Fav 1,000 Adv What was the actual contribution for last month? $7,000 $8,000 $8,500 $7,500
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