Sarasota Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Sarasota Corp's purchases of EZslide snowboards during September. During the same month, 100 EZslide snowboards were sold. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Date Sept. 5 Sept. 16 Sept. 29 Explanation Units Inventory Purchases Purchases Purchases Totals (a1) Sale Sale Sale Totals September 1 $ September 5 September 12 September 16 September 19 Additional data regarding the company's sales of EZslide snowboards are provided below. Assume that Sarasota Corp. uses a perpetual inventory system. September 26 Units September 29 $ 8 49 43 11 100 48 50 19 128 Unit Cost $110 Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) 113 114 115 Total Cost $1,210 5,424 5,700 2,185 $14,519

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.