Required:1. What is the contribution margin market share variance?2. What is the contribution margin market size variance?3. What are the selling price variance and sales volume variance?4. What are the sales mix variance and sales quantity variance?(For all requirements, do not round intermediate calculations. Round your answers to 2 decimalplaces.)1. Contribution margin market share variance2. Contribution margin market size variance3. Selling price varianceSales volume varianceFavorable4. Sales mix varianceSales quantity varianceUnfavorable Required information[The following information applies to the questions displayed below.]Tall Pines Brewery (TPB) makes two specialty beers in its microbrewery: Golden Ale and Dark Ale. Both beers sell for thesame price per case in the U.S. market and in the export market. The latter market is primarily European countries. Bothbeers also have the same variable production costs, though the export product has slightly higher variable costs due toshipping and other distribution costs associated with the export beers. The price, cost, and market information for the twobeers are shown below:BudgetedWeightedAverage CMBudgetedActualSales units (cases)29,00019,00029,35021,500DomesticExportTotal48,00050,850Price per caseDomestic$ 102$ 101ExportVariable cost per case104106DomesticExportContribution margin per caseDomesticExportTotal contribution margin$ 69$ 698275$ 33$322231Domestic$ 957,000$ 939, 200Export418,000666, 500$ 28.6458Industry Budget Industry ActualSales units (cases)959,550673,750Domestic936,500663,400ExportThe budget was prepared with the expectation that the currency exchange rate would be $1.36 per euro. The actualaverage exchange rate for the period reflected the falling dollar, at $1.56 per euro.

Sales Price variance = (Actual Price-Budgeted Price)*Actual Quantity Sales Volume Variance = (Actual…

Required: 1. What is the contribution margin market share variance? 2. What is the contribution margin market size variance? 3. What are the selling price variance and sales volume variance? 4. What are the sales mix variance and sales quantity variance? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) 1. Contribution margin market share variance 2. Contribution margin market size variance 3. Selling price variance |Sales volume variance 4. Sales mix variance Sales quantity variance Favorable Unfavorable

Required: 1. What is the contribution margin market share variance? 2. What is the contribution margin market size variance? 3. What are the selling price variance and sales volume variance? 4. What are the sales mix variance and sales quantity variance? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) 1. Contribution margin market share variance 2. Contribution margin market size variance 3. Selling price variance |Sales volume variance 4. Sales mix variance Sales quantity variance Favorable Unfavorable

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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Bulldogs Inc. wants to determine the impact of the change in selling price of its sole product in relation to the analysis of its gross profit. Which of the following must the company determine? a. Sales Volume Variance b. Cost Price Variance c. Volume Variance d. Sales Price Variance
At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000 At the end of year, the actual results were as follows - Production - 73,000 units Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308 Direct Labor - 179,580 hours at a cost of $3,968,718 Variable Overhead - 133,590 machine hours at a cost of $558,406.20 Fixed Overhead - $891,000
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Gross profit volume variance is derived by A. combining sales and cost of sales variances. B. combining sales volume and cost volume variances. C. deducting cost price variance from gross profit variance. D. deducting sales price variance from gross profit variance.
Least-squares regression is a statistical method for identifying cost behavior. True or False True
Is it possible for a retail store such as Apple to use variances in analyzing its operating performance? Explain.
Answer two questions please 1-What is meant by the term variance? What advantages standard costing system offers? 2-If production exceeds sales, which method would you expect to show the higher net operating income, variable costing or absorption costing? Why?
A.) Sales Price Variance B.) Sales Volume Variance C.) Sales Variance D.) Cost Price Variance E.) Cost Volume Variance F.) Total Gross Profit Variance G.) Price Variance H.) Price-Quantity Variance I.) Cost Variance J.) Cost-Quantity Variance
S1: The percentage increase in selling price is found by dividing the favorable sales price variance by last year's sales at the current year's sales quantity. S2: The percentage decrease in units sold is found by dividing the favorable cost volume variance by the planned level of cost of sales. A. both are true C. S1 is true D. S2 is true B. both are false
At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000 At the end of year, the actual results were as follows - Production - 73,000 units Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308 Direct Labor - 179,580 hours at a cost of $3,968,718 Variable Overhead - 133,590 machine hours at a cost of $558,406.20 Fixed Overhead - $891,000
The variance that highlights the difference between actual sales volume and the master budget sales volume is the sales activity variance. O flexible budget variance. O master budget variance. O MOH volume variance.