Sales Mix and Quantity VariancesChow-4-Hounds (C4H) makes pet foodfor sale in supermarkets. C4Hproduces two general types: Brandedand Generic. The two differ primarily inthe ingredients used. At budget,Branded sells for $12 per case and hasa variable cost to produce $5 per case.Generic sells for a budgeted $9 percase and has a budgeted variable costto produce $4 per case. C4H expectsto sell 30 percent Branded and 70percent Generic regardless of the salesvolume. C4H budgeted total sales of200,000 cases for March. The actualcase volume sold in March was210,000 cases, of which 60,000 wereBranded. Total actual revenues inMarch were $2,055,000, of which$780,000 were from sales of Brandedcases.Required1. Compute the activity variance forC4H for March.2. Compute the mix and quantityvariances for March.

Variance -The discrepancy between an actual and a predicted outcome is referred to as variance. The…

Sales Mix and Quantity Variances Chow-4-Hounds (C4H) makes pet food for sale in supermarkets. C4H produces two general types: Branded and Generic. The two differ primarily in the ingredients used. At budget, Branded calls for $12 por pro and bas

Sales Mix and Quantity Variances Chow-4-Hounds (C4H) makes pet food for sale in supermarkets. C4H produces two general types: Branded and Generic. The two differ primarily in the ingredients used. At budget, Branded calls for $12 por pro and bas

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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Current Attempt in Progress 4 Swifty is the primary provider of spirit apparel for many high schools. Management has been evaluating two of its key products for changes in selling price and sales volume in comparison to expectation: the quarter-zip jacket and the hooded sweatshirt. Swifty's expectations and actual results were as follows. Quarter-zip Sweatshirt Budgeted Sales Volume Sales price variance Sales activity variance eTextbook and Media Save for Later 430 600 Actual Sales Volume 500 540 Budgeted Selling Price $38 $53 Actual Selling Price How much was Swifty's sales price variance this year? How much was its comprehensive sales activity variance? $40 $51 Budgeted Variable Unit Cost $24 $30 Attempts: 0 of 3 used Submit Answer
I'm stuck on part B.
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Contribution Margin Volume Variance Ioannis Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted Amounts: ToasterOven ConvectionOven Total Sales: ($96 × 27,500) $2,640,000 ($151 × 19,500) $2,944,500 $5,584,500 Variable expenses 535,000 750,000 1,285,000 Contribution margin $2,105,000 $2,194,500 $4,299,500 Actual Amounts: ToasterOven ConvectionOven Total Sales: ($85 × 27,000) $2,295,000 ($163 × 13,000) $2,119,000 $4,414,000 Variable expenses 513,200 721,200 1,234,400 Contribution margin $1,781,800 $1,397,800 $3,179,600 1. Calculate the budgeted average unit contribution margin. 2. Calculate the contribution margin volume variance
Contribution Margin Volume Variance Iliff, Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted Amounts: ToasterOven ConvectionOven Total Sales: ($92 × 29,500) $2,714,000 ($155 × 15,500) $2,402,500 $5,116,500 Variable expenses 495,000 780,000 1,275,000 Contribution margin $2,219,000 $1,622,500 $3,841,500 Actual Amounts: ToasterOven ConvectionOven Total Sales: ($81 × 25,000) $2,025,000 ($165 × 12,500) $2,062,500 $4,087,500 Variable expenses 539,600 712,300 1,251,900 Contribution margin $1,485,400 $1,350,200 $2,835,600 Required: 1. Calculate the budgeted average unit contribution margin. Round your answer to the nearest cent. Use rounded answer in subsequent computations. 2.…
Question 14: Based on the wage-bracket method, the federal income tax withholding for an employee who is married, is paid biweekly, completed the pre-2020 Form W-4, claims 2 federal withholding allowances, and earns $1,899 is $
Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound Cocoa 12 lb. 9 lb. $4.9 Sugar 10 lb. 14 lb. 0.6 Standard labor time 0.4 hr. 0.5 hr. Dark Chocolate Light Chocolate Planned production 5,000 cases 11,300 cases Standard labor rate $15 per hr. $15 per hr. I Love My Chocolate does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results: Dark Chocolate Light Chocolate Actual production (cases) 4,800 11,800 Actual Price per Pound Actual Pounds Purchased and Used Cocoa $5 164,600 Sugar 0.55 207,900 Actual Labor Rate Actual Labor Hours Used Dark chocolate…
Exercise 17-31 (Algo) Sales Mix and Quantity Variances (LO 17-4) Allonby Foods processes frozen meals for sale in grocery and other retail outlets. Two versions are produced: The FlavorPak version has a budgeted price of $16 per case and a standard variable cost of $9 per case. The Gourmet version has a budgeted price of $29 per case and a standard variable cost of $18 per case. At the beginning of the year, the Marketing Group at Allonby estimated that the company would sell 60,060 cases of the FlavorPak version and 36,036 cases of the Gourmet version. The actual results for the year showed that 56,760 cases of the FlavorPak version and 37,840 cases of the Gourmet version were sold. Total revenues generated by sales of both versions amounted to $1,997,950 with $1,062,400 coming from the Gourmet version sales. Required: a. Compute the sales activity variance for the year. b. Compute the mix and quantity variances for the year. Complete this question by entering your answers in the tabs…
Xander's Muffins is trying to decide whether or not to continue a particular muffin flavour. The information shown is available for Xander's different muffin ranges. If the range is dropped, the business will still have to pay the direct fixed costs and the allocated common fixed costs. Raspberry white Blueberry Banana walnut chocolate Sales volume Sales price 500 units 500 units 500 units $4 per unit $5 per unit $4.50 per unit Variable costs $1.50 per unit $1.75 per unit $1.25 per unit Direct fixed costs 1,000 1,000 1,000 Allocated common 500 1500 500 fixed costs Net income -250 -875 125 What will be the net profit if the business drops the Raspberry and white chocolate muffins?
Please review part A. It isn't correct
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