Required:Calculate the following:1. Selling price variances for the period for each product and for the firm.2. Sales volume varlances for the period for each product and for the firm.3. Sales quantity varlances for each product and the firm.4. Sales mix variances for the period for each product and for the firm.5. The sum of the sales quantity variance and sales mix varlance. Also, verify that this total equals the sales volume varlance.6. Market size variance for the period.7. Market share variance for the period.8. The sum of the market size variance and market share varlance. Also, verify that this total equals the sales quantity variance.(Enter your answers in thousands of dollars.)1. Selling price variance - PremiumSelling price variance - RegularTotal selling price varianceSales volume variance - PremiumSales volume variance - RegularTotal sales volume varianceSales quantity variances - PremiumSales quantity variances - Regular2.3.4.Total sales quantity varianceSales mix variance - PremiumSales mix variance - RegularTotal sales mix variance5.Sales volume variance6.Market size variance7.Market share variance8. Sales quantity variance Springwater Brewery has two main products: premlum and regular ale. Its operating results and master budget for 20XX (000somitted) follow:BarrelsSalesVariable expensesContribution marginFixed expensesOperating incomeOperating Results of 20XXRegolar660$ 82,50056,100$ 26,4009,000$ 17,400Premium220$ 37,40024,200$ 13,20011,000$ 2,200Total880$ 119,90080,300$ 39,60020,000$ 19,600Master Budget for 20xxRegular360$ 46,80030,600$ 16,2009,000$ 7,200Premium240$ 38,40024,000$ 14,40011,000$ 3,400Total600$ 85,20054,600@ 30,60020,0009 10,600Pam Kuder, CEO, expected the total industry sales to be 1,500,000 barrels during the period. After the year, Mark Goldfeder, thecontroller, reported that the total sales for the Industry were 1,760,000 barrels.

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Springwater Brewery has two main products: premlum and regular ale. Its operating results and master budget for 20XX (000s omitted) follow: Barrels Sales Variable expenses Contribution margin Fixed expenses Operating income Operating Rasults of 20XX Regolar Premium 220 $ 37,400 24,200 $ 13,200 11,000 $ 2,200 660 $ 82,500 56,100 Total 880 119,900 90,300 $ 39,600 20,000 $ 26,400 9,000 $ 17,400 $ 19,600 Master Budget for 20x2 Premium 240 $ 38,400 24,000 $ 14,400 11,000 $3,400 360 $ 46,800 30,600 $ 16,200 9,000 $ 7,200 Total 600 $85,200 54,600 @ 30,600 20,000 9 10,600 Pam Kuder, CEO, expected the total industry sales to be 1,500,000 barrels during the period. After the year, Mark Goldfeder, the controller, reported that the total sales for the Industry were 1,760,000 barrels.

Springwater Brewery has two main products: premlum and regular ale. Its operating results and master budget for 20XX (000s omitted) follow: Barrels Sales Variable expenses Contribution margin Fixed expenses Operating income Operating Rasults of 20XX Regolar Premium 220 $ 37,400 24,200 $ 13,200 11,000 $ 2,200 660 $ 82,500 56,100 Total 880 119,900 90,300 $ 39,600 20,000 $ 26,400 9,000 $ 17,400 $ 19,600 Master Budget for 20x2 Premium 240 $ 38,400 24,000 $ 14,400 11,000 $3,400 360 $ 46,800 30,600 $ 16,200 9,000 $ 7,200 Total 600 $85,200 54,600 @ 30,600 20,000 9 10,600 Pam Kuder, CEO, expected the total industry sales to be 1,500,000 barrels during the period. After the year, Mark Goldfeder, the controller, reported that the total sales for the Industry were 1,760,000 barrels.

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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