Budgeted Amounts: Sales: ($1,000 x 25,000) ($500 x 15,000) Variable expenses Contribution margin Actual Amounts: Sales: ($1,000 x 25,500) ($500 x 13,500) Variable expenses Contribution margin Required: Toaster Oven $25,000,000 6,250,000 $18,750,000 1. Calculate the sales mix variance. $225,000 X Favorable Toaster Oven $25,500,000 6,375,000 $19,125,000 Convection Oven $7,500,000 1,500,000 $6,000,000 Convection Oven $6,750,000 1,350,000 $5,400,000 Total $32,500,000 7,750,000 $24,750,000 Total $32,250,000 7,725,000 $24,525,000

Budgeted Amounts: Sales: ($1,000 x 25,000) ($500 x 15,000) Variable expenses Contribution margin Actual Amounts: Sales: ($1,000 x 25,500) ($500 x 13,500) Variable expenses Contribution margin Required: Toaster Oven $25,000,000 6,250,000 $18,750,000 1. Calculate the sales mix variance. $225,000 X Favorable Toaster Oven $25,500,000 6,375,000 $19,125,000 Convection Oven $7,500,000 1,500,000 $6,000,000 Convection Oven $6,750,000 1,350,000 $5,400,000 Total $32,500,000 7,750,000 $24,750,000 Total $32,250,000 7,725,000 $24,525,000

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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