A souvenir shop has the following information about T-shirt sales. What is the quantity variance of T-shirt revenue? Budgeted number of T-shirts sold: 2700. Actual number of T-shirts sold: 2500. 2400 Unfavorable 3000 Unfavorable 8100 Favorable 7500 Favorable Budgeted price: $12 Actual price: $15

Q: As sales manager, John was given the Dunham Company for the month of C

A: In this question, we have to make a flexible budget report.

Q: 6. Determine the budget variance (i.e., total revenue variance) ($). Assume that your hotel has a…

A: Sales Price Variance = ( Actual Selling Price - Budgeted Selling Price ) x Actual Volume Sales…

Q: SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below]…

A: Contribution means the difference between the sale and variable cost. Net operating income means the…

Q: of cards, novelty cocoa mixes, scented soap) in a basket that is wrapped in colorfu Bard gift basket…

A: Production budget is shows the number of units that are required to be purchased or manufactured…

Q: Please explain the solution and purchase budget is wrong

A: Explanation: (Production Budget) Budgeted Sales for the months is given Closing stock is calculated…

Q: Purchases Budget Tiger Drug Store carries a variety of health and beauty aids, including 500-count…

A: The budget is prepared to estimate the requirements for the period. The purchase budget is prepared…

Q: Q.Does Saluki’s charge of $175 cover the budgeted direct variable cost of an order? The budgeted…

A: Budgeted direct variable cost:  Formula to calculate budgeted direct variable cost:

Q: Magnolia, Inc., manufactures bedding sets. The budgeted production is for 21,000 comforters this…

A: Total material required = Budgeted production units × Material required per unit

Q: Saved Help Save & Exit A machine distributor sells two models, basic and deluxe. The following…

A: Sales quantity variance = (actual quantity- budgeted quantity) x contribution per unit Contribution…

Q: A-Zone Media sells two models of e- readers. The budgeted price per unit for the wireless model is…

A: Activity variance is the difference between the flexible budget and the static budget. It is a…

Q: SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.]…

A: A budget is prepared by the management to estimate the revenue and expenses that will be…

Q: Suppose you have $60 to spend on smoothies and popcorn. The graph below pictures your budget…

A: A budget line shows different combinations of two goods purchased, given a certain income. The…

Q: Prepare the direct materials budget. (Round Cost per pound answers to 2 decimal places, e.g. 52.70.)…

A: Budgets are the forecasts showing the various potential needs, expense and incomes of an…

Q: 1. Pine Company expects to sell 800 wreaths in December 2016 but wants to plan for 225 more and 225…

A: Budget is an estimation of revenue and expenses, that could happen in the future. In simple words it…

Q: Olivet Devices sells two models of fitness devices. The budgeted price per unit for the wireless…

A: Variance arises when there is difference between actual costs and standard costs. The variance is…

Q: A-Zone Media sells two models of e- readers. The budgeted price per unit for the wireless model is…

A: Variance arises when the actual costs differs from the standard costs . There are two circumstances…

Q: 10. Compute the total sales budget for the month of February. 11. Compute the sales budget of…

A: Sales Budget is prepared by the Business Entity to estimate its sales revenue to be earned in the…

Q: Required: Prepare a cash budget for September and October.

A: Step 1: Computation of cash collection for salesParticularsSeptemberOctoberBudgeted sales…

Q: Olivet Devices sells two models of fitness devices. The budgeted price per unit for the wireless…

A: Variance arises when there is difference between actual costs and standard costs. The variance is…

Q: What is the percentage change in volume?

A: % Change in volume = ( Budgeted units - Actual units )/ Actual units

Q: ials it sales Plastic Frames $10.00 2.00 3.00 100,000 Glass Frames $15.00 3.00 5.00 300,000

A: a. Computation of sales mix between Plastic Frame and Glass Frame Budgeted unit sales for Plastic…

Q: 8. If only 900 caps are sold, budgeted sales would be a $650

A: The income statement is a financial statement which shows the net income of the business enterprise.…

Q: 1. Christmas Joy Company expects to sell 1,100 wreaths in December 2024, but wants to plan for 100…

A: Flexible budget is the statement which is prepared by the entity for the purpose of determining the…

Q: Create a cash payments budget with the following information: I-Frame Inc. manufactures bamboo…

A: A budget for cash payments describes a company's anticipated cash outflows (payments) for a specific…

Q: Budgeted sales in cases........ Packaging cost per case....... Shipping expense per case..... Sales…

A: The flexible budget enables the managers to isolate the various causes of the differences between…

Q: The controller is waiting on Crane's budgeted cash disbursements so the cash budget can be wrapped…

A: The cash disbursement schedule is prepared to estimate the cash payments during the period. The…

Q: Olivet Devices sells two models of fitness devices. The budgeted price per unit for the wireless…

A: Answer:- Variance arises when there is difference between actual costs and standard costs. The…

Q: Sheffield, Inc. makes and sells serving trays. Each tray uses 1/2 pound of plastic, Budgeted…

A: A direct materials purchase budget is prepared after preparing a production budget. The direct…

Q: ! Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions…

A: The income statement shows the financial position of the company whether the business is making a…

Q: Olivet Devices sells two models of fitness devices. The budgeted price per unit for the wireless…

A: Variance analysisVariance analysis is an analysis of a difference between planned and actual…

Q: 5) Daisy Company manufactures dog collars. The following selected data relates to Daisy Company's…

A: PRODUCTION BUDGETProduction Budget is a Forecast of the Production for the Budgeted Period of an…

Q: The Vizzini Shop (TVS) specializes in making fraternity and sorority tote bags for the college…

A: Since the question has multiple sub-parts, as per the guidelines only the first three sub-parts will…

Q: Glacier Trails manufactures backpacks for adventurers. The backpacks come in two types: Daytripper,…

A: The revenue is the total sales earned during the period. The net income or loss is calculated as the…

Q: Cost of Goods Sold Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic…

A: Cost of goods sold is the amount or cost which is incurred on the units which has been sold during…

Q: Peabody, Inc., sells fireworks. The company's marketing director developed the following cost of…

A: A direct material purchase budget is used to estimate the units that should be purchased for…

Q: 2.) The budget committee of Lococo Company collects the following data for its San Miguel Store in…

A: A budgeted income statement is prepared by first finding out how much should be the sales, and…

Q: MM Company budgets sales of $45,000 for May. MM's production manager discovered a way to use more…

A: Budget means the prediction of future period revenue and expenses. The very first budget that any…

Q: Problem Set 2. Production Budget Production Budget Mary's Coffee Shop has to compute for the sales…

A: According to Bartleby Guidelines, we are allowed to answer maximum 3 parts of a question. Please…

Q: Spencer Company sells lamps and other lighting fixtures. The purchasing department manager prepared…

A: PURCHASE BUDGETPurchase budget is referred to as the forecasted plan made for determining the amount…

Q: Production Budget Mary's Coffee Shop has to compute for the sales budget of the operation from the…

A: The sales forecast and the anticipated amount of finished goods inventory to be on hand are combined…

Q: Antique Brass Company has budgeted sales volume of 122,000 units and budgeted production of 114,000…

A: Ending Finished goods inventory:-It is a closing inventory to calculates the cost of finished goods…

Q: Croesus Enterprises manufactures and sells one product, which requires 10 kg of raw materials to…

A: The budget is prepared to estimate the requirements for the period. The materials budget is prepared…

Q: A-Zone Media sells two models of e-readers. The budgeted price per unit for the wireless model is…

A: Variance arises when the actual costs differs from the standard costs . There are two circumstances…

Q: rect materials purchases budget Jetzaltenango Candle Inc. budgeted production of 765,000 candles for…

A: PRODUCTION BUDGET  Production Budget is a Forecast of the Production for the Budgeted Peirod of an…

Q: Samsung offers sales price discounts on some products. Samsung can use sales variance analysis to…

A: Variance analysis is the study of deviations of actual behaviour versus forecasted or planned…

Q: ha budget of $1200, an average CPC of $2.50, how pre their budget is exhausted? h an unlimited…

A: A budget is a forecast of revenue and spending for a certain future period of time that is generally…

Q: Submit A machine distributor sells two models, basic and deluxe. The following information relates…

A: Sale mix variance: - The difference between a company's budgeted sales mix and the actual sales mix…

Q: A machine distributor sells two models, basic and deluxe. The following information relates to its…

A: SALES MIX VARIANCEWhen two or more than one product is manufactured and sold, the budgeted sales of…

Q: The controller has asked a question: The static budget, at the beginning of the month, for Red Deer…

A: The flexible budget variance is the difference between the actual costs and standard costs of…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.