Latif Shop sells a variety of magic Toys. In a recent month, it's accounting information system revealed the following information: Budget Actual Units Sales revenue 2,500 3,200 $10,000 $12,000 Variable product costs 1,200 2,000 Fixed manufacturing costs 800 700 Variable selling costs 1,500 1,400 Fixed nonmanufacturing costs 500 600 Calculate the following variances: i. Revenue budget variance. ii. Sales price variance. iii. Revenue sales quantity variance.

Latif Shop sells a variety of magic Toys. In a recent month, it's accounting information system revealed the following information: Budget Actual Units Sales revenue 2,500 3,200 $10,000 $12,000 Variable product costs 1,200 2,000 Fixed manufacturing costs 800 700 Variable selling costs 1,500 1,400 Fixed nonmanufacturing costs 500 600 Calculate the following variances: i. Revenue budget variance. ii. Sales price variance. iii. Revenue sales quantity variance.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter12: Activity-based Management

Section: Chapter Questions

Problem 5CE: Uchdorf Manufacturing just completed a study of its purchasing activity with the objective of...

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Q.Calculate all the required variances. (If your work is accurate, you will find that the total static-budget variance is $0.)
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