Please do not give solution in image format thanku The Chair Company manufactures two modular types of chairs; one for the residential market, and the other for the office market. Budgeted and actual operating data for the past year are:Actual ResultsHome260,000Static BudgetOffice140,000Number of chairs soldContribution margin $26,000,000 $11,200,000 $22,356,000 $13,248,000Home248,400Office165,600The industry volume for residential and office chairs of the type sold by the Chair company had been estimated at 2,400,000. Actual industry volume for the year was 2,200,000 chairs.Required: (make sure to label each answer and show your work)a. Compute the sale-mix variance for the office chair.b. Compute the sales- quantity variance for the Home chair.

Answer:- Variance analysis:- Variance analysis is basically the examination of discrepancies between…

The Chair Company manufactures two modular types of chairs; one for the residential market, and the other for the office market. Budgeted and actual operating data for the past year are: Static Budget Actual Results Home 260,000 Office 140,000 Home 248,400 Office 165,600 Number of chairs sold Contribution margin $26,000,000 $11,200,000 $22,356,000 $13,248,000 The industry volume for residential and office chairs of the type sold by the Chair company had been estimated at 2,400,000. Actual industry volume for the year was 2,200,000 chairs. Required: (make sure to label each answer and show your work) a. Compute the sale-mix variance for the office chair. b. Compute the sales- quantity variance for the Home chair.

The Chair Company manufactures two modular types of chairs; one for the residential market, and the other for the office market. Budgeted and actual operating data for the past year are: Static Budget Actual Results Home 260,000 Office 140,000 Home 248,400 Office 165,600 Number of chairs sold Contribution margin $26,000,000 $11,200,000 $22,356,000 $13,248,000 The industry volume for residential and office chairs of the type sold by the Chair company had been estimated at 2,400,000. Actual industry volume for the year was 2,200,000 chairs. Required: (make sure to label each answer and show your work) a. Compute the sale-mix variance for the office chair. b. Compute the sales- quantity variance for the Home chair.

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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