Exercise 8-7A (Algo) Evaluating a decision to increase sales volume by lowering sales price LO 8-3, 8-4 Jordan Educational Services had budgeted its training service charge at $74 per hour. The company planned to provide 29,000 hours of training services during Year 3. By lowering the service charge to $56 per hour, the company was able to increase the actual number of hours to 30,700. Required a. Determine the sales volume variance, and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" If there is no effect (l.e., zero varlance). b. Determine the flexible budget variance, and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" If there is no effect (l.e., zero varlance). c. Did lowering the price of training services increase revenue?

Exercise 8-7A (Algo) Evaluating a decision to increase sales volume by lowering sales price LO 8-3, 8-4 Jordan Educational Services had budgeted its training service charge at $74 per hour. The company planned to provide 29,000 hours of training services during Year 3. By lowering the service charge to $56 per hour, the company was able to increase the actual number of hours to 30,700. Required a. Determine the sales volume variance, and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" If there is no effect (l.e., zero varlance). b. Determine the flexible budget variance, and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" If there is no effect (l.e., zero varlance). c. Did lowering the price of training services increase revenue?

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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