Please do not give solution in image format thanku Sales VariancesPresented is information pertaining to an item sold by Winding Creek General Store:Unit salesUnit selling priceUnit standard variable costsUnit contribution marginRevenuesVariable costs$3,780$2.530(2,700)(2,200)Contribution margin at standard costs $1,080$330Compute the revenue, sales price, and the sales volume variances.Revenue varianceSales price varianceActual Budget135110$28$23(20)(20)$8$3Sales volume variance

Revenue variance is the difference between budgeted and actual revenue. Sales price variance is the…

Sales Variances Presented is information pertaining to an item sold by Winding Creek General Store: Actual Budget 135 $28 (20) $8 Unit sales Unit selling price Unit standard variable costs Unit contribution margin Revenues Variable costs 110 $23 (20) $3 $3,780 $2.530 (2,700) (2.200) $330 Contribution margin at standard costs $1,080 Compute the revenue, sales price, and the sales volume variances.

Sales Variances Presented is information pertaining to an item sold by Winding Creek General Store: Actual Budget 135 $28 (20) $8 Unit sales Unit selling price Unit standard variable costs Unit contribution margin Revenues Variable costs 110 $23 (20) $3 $3,780 $2.530 (2,700) (2.200) $330 Contribution margin at standard costs $1,080 Compute the revenue, sales price, and the sales volume variances.

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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Question

Please do not give solution in image format thanku

Sales Variances
Presented is information pertaining to an item sold by Winding Creek General Store:
Unit sales
Unit selling price
Unit standard variable costs
Unit contribution margin
Revenues
Variable costs
$3,780
$2.530
(2,700)
(2,200)
Contribution margin at standard costs $1,080
$330
Compute the revenue, sales price, and the sales volume variances.
Revenue variance
Sales price variance
Actual Budget
135
110
$28
$23
(20)
(20)
$8
$3
Sales volume variance

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Step 3: Calculation of sales price variance:

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Step 4: Calculation of sales volume variance:

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