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lia Wiz sells computers. During May, it sold 600 computers at a $700 per unit price. The fixed budget for May predic omputers at an per unit price of $660. Q = Actual Quantity Q Standard Quantity P = Actual Price P= Standard Price &2. Compute the sales price variance and the sales volume variance for May. Identify it as favorable or unfavorable. ffect of each variance by selecting favorable, unfavorable, or no variance.) Flexible Budget Actual Sales Budgeted Sales

lia Wiz sells computers. During May, it sold 600 computers at a $700 per unit price. The fixed budget for May predic omputers at an per unit price of $660. Q = Actual Quantity Q Standard Quantity P = Actual Price P= Standard Price &2. Compute the sales price variance and the sales volume variance for May. Identify it as favorable or unfavorable. ffect of each variance by selecting favorable, unfavorable, or no variance.) Flexible Budget Actual Sales Budgeted Sales

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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10 Mia Wiz sells computers. During May, it sold 600 computers at a $700 per unit price. The fixed budget for May predicted sales of 650 computers at an per unit price of $660. 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. Identify it as favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Sales $ 0 Flexible Budget 0 0 $ 0 Budgeted Sales
Transcribed Image Text:10 Mia Wiz sells computers. During May, it sold 600 computers at a $700 per unit price. The fixed budget for May predicted sales of 650 computers at an per unit price of $660. 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. Identify it as favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Sales $ 0 Flexible Budget 0 0 $ 0 Budgeted Sales
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