Financial account subject questions Assuming actual volume is 10,000 units and planned volume is 12,000units, the sales volume variance in unitsa. equals 2,000 units, unfavorableb. equals 2,000 units, favorablec. cannot be determined without additional informationd. None of these answers is correct.

The correct answer is:a. equals 2,000 units, unfavorable Explanation:Sales Volume Variance measures…

Answered: Assuming actual volume is 10,000 units…

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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Assuming actual volume is 10,000 units and planned volume is 12,000 units, the sales volume variance in units a. equals 2,000 units, unfavorable b. equals 2,000 units, favorable c. cannot be determined without additional information d. None of these answers is correct.
Assuming actual volume is 14,000 units and planned volume is 18,000 units, the sales volume variance in units: Multiple Choice O None of these answers are correct. Equals 4,000 units unfavorable. Equals 4,000 units favorable. Cannot be determined without additional information.
How much of the $0.24 excess unit cost is traceable to apparent inefficient use of labor time?Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round your final answers to 2 decimal places.
Can you help me interpret these results i)Revenue Variance, Price, and Volume Variance Revenue variance = Actual revenues – Static revenues = $2,200,000 - $1,9800,000 = $220,000 Price variance = Actual revenues – Flexible revenues =$2,2000,000 - $2,200,000 =$0 Volume variance = Flexible revenues – Static revenues =$2,200,000 - $1,980,000 = $220,000 ii) Cost Variance, Volume Variance and Management Variance Cost variance = Static cost - Actual cost =$1,350,000 -$1,625,000 = $-275,000 Volume = Static cost – Flexible costs = $1,350,000 - =$1,475,000 = $-125,000 Management variance = Flexible cost- Actual cost =$2,200,000 - 1,625,000 =$575,000 iii) Profit Variance Profit Variance= Actual Profit - Static Profit = 225,000 - 130,000 = 95,000 Revenue Variance = Actual Revenue - Static Revenue = 2, 200,000 - 1,980,000 = 220,000 Cost Variance = Static Cost - Actual Costs = 1,850,000 - 1,975,000 = (125,000) Can you help me interpret these results
Please answer the following questions using this chart.
S1: The percentage increase in selling price is found by dividing the favorable sales price variance by last year's sales at the current year's sales quantity. S2: The percentage decrease in units sold is found by dividing the favorable cost volume variance by the planned level of cost of sales. A. both are true C. S1 is true D. S2 is true B. both are false
Assume that sales quantity variance is $26,560 unfavourable, market share variance is $74,700 unfavourable. Which of the following statements is TRUE? A) Actual market size is lower than budgeted market size. B) Actual market size is higher than budgeted market size. C) Actual market share is higher than budgeted market share. D) None of these answers is correct.
Which statement may not always hold true? A. Increase in the units sold always lead to unfavorable cost volume variance. B. Increase in sales price will always lead to favorable sales variance. C. In a multi-product company, the gross profit volume variance can be further analyzed into sales mix variance and final sales volume variance. D. Decrease in unit production cost will always lead to favorable cost price variance. E. Answer not given
Which method of closing out the fixed MOH volume variance will have no effect on the financial statements, no matter the capacity used? Question options: a) Prorating the fixed MOH volume variance to FG inventory and COGS. b) Allocating the fixed MOH volume variance equally among WIP Inventory, FG inventory and COGS. c) Prorating the fixed MOH volume variance to WIP Inventory, FG inventory and COGS. d) Allocating the fixed MOH volume variance to COGS.
Which of the following statements about margin of safety is false? O a. If only the fixed costs increase but the number of units sold and unit selling price and unit variable cost are all constant, the margin of safety decreases. O b. Margin of safety measures the difference between budgeted revenues and breakeven revenues. none of the given answers is false. O d. If the variable cost per unit decreases but the number of units sold, unit selling price and total fixed cost are all constant, the margin of safety increases. If only the fixed costs decrease but the number of units sold and unit selling price and all constant, the margin of safety decreases.
N2. Account
Ma1.

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Assuming actual volume is 10,000 units and planned volume is 12,000 units, the sales volume variance in units a. equals 2,000 units, unfavorable b. equals 2,000 units, favorable c. cannot be determined without additional information d. None of these answers is correct.