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Comp Wiz sells computers. During May, it sold 300 computers at a $800 average price each. The May fixed budget included sales of 350 computers at an average price of $770 each. AQ = Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Flexible Budget Actual Sales Budgeted Sales AQ АP AQ SP SQ SP X X Y 0 0 0

Comp Wiz sells computers. During May, it sold 300 computers at a $800 average price each. The May fixed budget included sales of 350 computers at an average price of $770 each. AQ = Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Flexible Budget Actual Sales Budgeted Sales AQ АP AQ SP SQ SP X X Y 0 0 0

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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Comp Wiz sells computers. During May, it sold 300 computers at a $800 average price each. The May fixed budget included sales of 350 computers at an average price of $770 each. AQ = Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Flexible Budget Actual Sales Budgeted Sales AQ АP AQ SP SQ SP X X Y 0 0 0
Transcribed Image Text:Comp Wiz sells computers. During May, it sold 300 computers at a $800 average price each. The May fixed budget included sales of 350 computers at an average price of $770 each. AQ = Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Flexible Budget Actual Sales Budgeted Sales AQ АP AQ SP SQ SP X X Y 0 0 0
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