Piper Products sold 415,000 units during the last period when industry volume totaled 2.89 million units. The company originally expected to sell 451,500 based on a budgeted market share of 15 percent. The budgeted selling price was $13 per unit. Budgeted variable costs were $5 per unit. Budget fixed costs were $1,860,000 and applied based on units produced. Required: Compute the sales activity variance, and break it down into market share variance and the industry volume variance Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales activity variance Market share variance Industry volume variance

Piper Products sold 415,000 units during the last period when industry volume totaled 2.89 million units. The company originally expected to sell 451,500 based on a budgeted market share of 15 percent. The budgeted selling price was $13 per unit. Budgeted variable costs were $5 per unit. Budget fixed costs were $1,860,000 and applied based on units produced. Required: Compute the sales activity variance, and break it down into market share variance and the industry volume variance Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales activity variance Market share variance Industry volume 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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