Atlantis Inc. wants to analyze the variances in its actual and budgeted gross profit. Compute for the Sales price Variance under 3-way analysis provided the information below: Actual Gross Profit and actual gross profit ratio is P500,000 and 25%, respectively. i. ii. Budgeted sales is P100,000 greater than the actual sales Budgeted sales price at actual quantity sold is P2,100,000 * iii. /1 Prind

Atlantis Inc. wants to analyze the variances in its actual and budgeted gross profit. Compute for the Sales price Variance under 3-way analysis provided the information below: Actual Gross Profit and actual gross profit ratio is P500,000 and 25%, respectively. i. ii. Budgeted sales is P100,000 greater than the actual sales Budgeted sales price at actual quantity sold is P2,100,000 * iii. /1 Prind

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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Dickinsen Company gathered the following data for December: Planned Actual Sales price per unit Number of units of sales $5.80 x 820,000 $4,756,000 $6.00 x 805,000 $4,830,000 Total sales a. Compute the revenue price variance. b. Compute the revenue volume variance. c. Compute the total revenue variance.
Rodolfo works at Johnson Incorporated and is tasked with measuring costs. When Rodolfo identifies that actual sales are less than expected sales, what type of variance did Rodolfo identify? A Fixed cost volume variance B Sales price variance C Favorable variance D Unfavorable variance
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