Matthew works in the accounting department of a local footwear manufacturer that specializes in clogs and boots. Clogs and bootstypically sell for $97 and $192 per pair, respectively. Based on past experience, fashion trends, and seasonal shifts, the companyexpected to sell 760 pairs of clogs and 240 pairs of boots. The variable cost per pair was $52 for clogs and $78 for boots.At the end of the year, Matthew evaluated the company's sales and contribution margin amounts against the budget. Actual results forthe year were as follows....(a)Actual sales volume: clogs, 869; boots, 231.Actual selling price: clogs, $108 per pair; boots, $181 per pair.Actual per-unit variable costs for each product were the same as budgeted.Your answer is correct. Your answer is correct.For the year just ended, determine the company's total revenues, total variable costs, and total contribution margin for its (1)master budget, (2) flexible budget, and (3) actual income statement.(b)Total revenuesTotal variable costs$Total contribution margin $Sales price variance $$Sales activity variance $Master Budget119,80058,24061,560$$$Flexible Budget128,64563,20665,439$$$Actual135,66363,206Calculate the company's sales price variance and comprehensive sales activity variance, specifying the amount and sign for each.72,457

Sales price variance is the difference between actual and estimated units selling price multiplied…

Answered: Calculate the company's sales price…

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 $

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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Requirements Prepare a segment margin performance report for the pharmaceutical segment. In this report, be sure to include lines for the contribution margin, the segment margin, and operating income. Calculate a variance and a variance percentage for each line in the report. a. Check your spelling carefully and do not abbreviate. b. Follow the format shown in Exhibit 10-4. C. Use the ABS function when calculating variances, and use the drop-down selections for F (favorable) or U (unfavorable) when describing the variances.
G.) Price Variance H.) Price-Quantity Variance I.) Cost Variance J.) Cost-Quantity Variance
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Required informetion [The following information applies to the questions displayed below.j Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor: Direct Material: Quantity, 0.25 hour Quantity, 4 kilograms Price, $8.60 per kilogram Rate, $12.50 per hour Actual material purchases amounted to 200,000 kilograms at $0.640 per kilogram. Actual costs incurred In the production of 40,000 units were as follows: Direct labor: $137, 700 for 10,800 hours $188, 800 for 170,000 kilograms Direct material:
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