The following data pertain to Inyange Cannery for the month of February. Static Budget Actual Units sold 14,000 12,000 Sales revenue $ 182,000 $ 151,200 Variable manufacturing cost 5,000 39,000 Fixed manufacturing cost 18,000 18,000 Variable selling and administrative cost 14,000 9,000 Fixed selling and administrative cost 14,000 14,000 Required: Compute the sales-price and sales-volume variances for February. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).

The following data pertain to Inyange Cannery for the month of February. Static Budget Actual Units sold 14,000 12,000 Sales revenue $ 182,000 $ 151,200 Variable manufacturing cost 5,000 39,000 Fixed manufacturing cost 18,000 18,000 Variable selling and administrative cost 14,000 9,000 Fixed selling and administrative cost 14,000 14,000 Required: Compute the sales-price and sales-volume variances for February. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).

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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	Static Budget	Actual
Units sold	14,000	12,000
Sales revenue	$ 182,000	$ 151,200
Variable manufacturing cost	5,000	39,000
Fixed manufacturing cost	18,000	18,000
Variable selling and administrative cost	14,000	9,000
Fixed selling and administrative cost	14,000	14,000

Required:

Compute the sales-price and sales-volume variances for February.

Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).

Definition Definition Total cost of procuring or producing a product or the cost that an individual or business owner undertakes for the manufacturing of goods.

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