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Required: 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and not round intermediate calculations.) Flavor Vanilla Chocolate Strawberry Anchovy Total a. Sales Volume Variance b. Sales Mix Variance C. Sales Quantity Variance

Required: 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and not round intermediate calculations.) Flavor Vanilla Chocolate Strawberry Anchovy Total a. Sales Volume Variance b. Sales Mix Variance C. Sales Quantity Variance

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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Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Flavor Vanilla Chocolate Strawberry Anchovy Flavor Vanilla Gallons 348,000 435,000 290,000 87,000 Chocolate Strawberry Anchovy Total Budgeted Data Selling Price per Gallon $ 2.15 3.30 2.70 4.30 a. Variable Costs per Gallon $ 1.45 2.40 1.60 2.80 Sales Volume Variance Actual Operating Results Selling Price per Gallon $ 2.00 3.15 2.90 4.80 Required: 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round intermediate calculations.) Gallons 288,000 405,000 420,000 207,000 Variable b. Sales Mix Variance Costs per Gallon $ 1.35 2.30 1.65 3.00 C. Sales Quantity Variance
Transcribed Image Text:Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Flavor Vanilla Chocolate Strawberry Anchovy Flavor Vanilla Gallons 348,000 435,000 290,000 87,000 Chocolate Strawberry Anchovy Total Budgeted Data Selling Price per Gallon $ 2.15 3.30 2.70 4.30 a. Variable Costs per Gallon $ 1.45 2.40 1.60 2.80 Sales Volume Variance Actual Operating Results Selling Price per Gallon $ 2.00 3.15 2.90 4.80 Required: 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round intermediate calculations.) Gallons 288,000 405,000 420,000 207,000 Variable b. Sales Mix Variance Costs per Gallon $ 1.35 2.30 1.65 3.00 C. Sales Quantity Variance
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