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Break down the company's comprehensive sales activity variance into the sales mix variance and sales quantity var specifying the amount and sign for each. Sales mix variance Sales quantity variance $ $ 4

Break down the company's comprehensive sales activity variance into the sales mix variance and sales quantity var specifying the amount and sign for each. Sales mix variance Sales quantity variance $ $ 4

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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(b) Your Answer Correct Answer (Used) Calculate the company's sales price variance and comprehensive sales activity variance, specifying the amount and sign for each. Sales price variance Sales activity variance $ Sales mix variance $ The Sales quantity variance $ $ eTextbook and Media 7,865 Break down the company's comprehensive sales activity variance into the sales mix variance and sales quantity variance, specifying the amount and sign for each. 1,475 Favorable Favorable 4 Which of these two variances had a bigger effect on the comprehensive sales activity variance this year? had a greater effect on the sales activity variance
Transcribed Image Text:(b) Your Answer Correct Answer (Used) Calculate the company's sales price variance and comprehensive sales activity variance, specifying the amount and sign for each. Sales price variance Sales activity variance $ Sales mix variance $ The Sales quantity variance $ $ eTextbook and Media 7,865 Break down the company's comprehensive sales activity variance into the sales mix variance and sales quantity variance, specifying the amount and sign for each. 1,475 Favorable Favorable 4 Which of these two variances had a bigger effect on the comprehensive sales activity variance this year? had a greater effect on the sales activity variance
William works in the accounting department of a local footwear manufacturer that specializes in clogs and boots. Clogs and boots typically sell for $105 and $207 per pair, respectively. Based on past experience, fashion trends, and seasonal shifts, the company expected to sell 780 pairs of clogs and 220 pairs of boots. The variable cost per pair was $49 for clogs and $76 for boots. At the end of the year, William evaluated the company's sales and contribution margin amounts against the budget. Actual results for the year were as follows. (a) Actual sales volume: clogs, 935; boots, 165. Actual selling price: clogs, $115 per pair; boots, $198 per pair. Actual per-unit variable costs for each product were the same as budgeted. Your answer is correct. For the year just ended, determine the company's total revenues, total variable costs, and total contribution margin for its (1) master budget. (2) flexible budget, and (3) actual income statement. Total revenues Total variable costs Total contribution margin eTextbook and Media $ S S Master Budget 127440 54940 72500 S $ S Flexible Budget 132330 58355 73975 $ S S Actual 14019 5835 8184 Attempts: 1 of 3 used
Transcribed Image Text:William works in the accounting department of a local footwear manufacturer that specializes in clogs and boots. Clogs and boots typically sell for $105 and $207 per pair, respectively. Based on past experience, fashion trends, and seasonal shifts, the company expected to sell 780 pairs of clogs and 220 pairs of boots. The variable cost per pair was $49 for clogs and $76 for boots. At the end of the year, William evaluated the company's sales and contribution margin amounts against the budget. Actual results for the year were as follows. (a) Actual sales volume: clogs, 935; boots, 165. Actual selling price: clogs, $115 per pair; boots, $198 per pair. Actual per-unit variable costs for each product were the same as budgeted. Your answer is correct. For the year just ended, determine the company's total revenues, total variable costs, and total contribution margin for its (1) master budget. (2) flexible budget, and (3) actual income statement. Total revenues Total variable costs Total contribution margin eTextbook and Media $ S S Master Budget 127440 54940 72500 S $ S Flexible Budget 132330 58355 73975 $ S S Actual 14019 5835 8184 Attempts: 1 of 3 used
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