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Sheridan 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. Sheridan's expectations and actual results were as follows. Quarter-zip Sweatshirt Budgeted Sales Volume Sales mix variance 480 520 Sales quantity variance Actual Sales Volume S 520 480 Budgeted Selling Price $42 $50 Actual Selling Price $44 $47 Actual variable costs equaled the flexible budget variable costs How much was Sheridan's sales mix variance this year? How much was the company's sales quantity variance? Budgeted Variable Unit Cost $27 $33

Sheridan 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. Sheridan's expectations and actual results were as follows. Quarter-zip Sweatshirt Budgeted Sales Volume Sales mix variance 480 520 Sales quantity variance Actual Sales Volume S 520 480 Budgeted Selling Price $42 $50 Actual Selling Price $44 $47 Actual variable costs equaled the flexible budget variable costs How much was Sheridan's sales mix variance this year? How much was the company's sales quantity variance? Budgeted Variable Unit Cost $27 $33

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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Sheridan 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. Sheridan's expectations and actual results were as follows. Quarter-zip Sweatshirt Budgeted Sales Volume Sales mix variance Sales quantity variance 480 520 THE # S Actual Sales Volume 5 520 480 Actual variable costs equaled the flexible budget variable costs. How much was Sheridan's sales mix variance this year? How much was the company's sales quantity variance? Budgeted Selling Price $42 $50 Actual Selling Price $44 $47 Budgeted Variable Unit Cost $27 $33
Transcribed Image Text:Sheridan 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. Sheridan's expectations and actual results were as follows. Quarter-zip Sweatshirt Budgeted Sales Volume Sales mix variance Sales quantity variance 480 520 THE # S Actual Sales Volume 5 520 480 Actual variable costs equaled the flexible budget variable costs. How much was Sheridan's sales mix variance this year? How much was the company's sales quantity variance? Budgeted Selling Price $42 $50 Actual Selling Price $44 $47 Budgeted Variable Unit Cost $27 $33
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