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The following information was drawn from the accounting records of Ashton Company. Budgeted $ 8,000 (4,200) 3,800 Actual Sales $10,200 Cost of Goods Sold (5,400) Gross Margin 4,800 Variable Cost (1,600) (2,100) Fixed Cost (1,700) (1,300) Net Income 500 $ 1,400 Based on this information Ashton Company has a

The following information was drawn from the accounting records of Ashton Company. Budgeted $ 8,000 (4,200) 3,800 Actual Sales $10,200 Cost of Goods Sold (5,400) Gross Margin 4,800 Variable Cost (1,600) (2,100) Fixed Cost (1,700) (1,300) Net Income 500 $ 1,400 Based on this information Ashton Company has a

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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Fourth option: $2,200 unfavorable sales variance
The following information was drawn from the accounting records of Ashton Company. Budgeted Actual Sales $ 8,000 $10,200 Cost of Goods Sold (4,200) (5,400) Gross Margin 3,800 4,800 Variable Cost (1,600) (2,100) Fixed Cost (1,700) (1,300) Net Income $ 500 $ 1,400 Based on this information Ashton Company has a Multiple Choice $900 favorable sales variance $900 unfavorable sales variance $2,200 favorable sales variance
Transcribed Image Text:The following information was drawn from the accounting records of Ashton Company. Budgeted Actual Sales $ 8,000 $10,200 Cost of Goods Sold (4,200) (5,400) Gross Margin 3,800 4,800 Variable Cost (1,600) (2,100) Fixed Cost (1,700) (1,300) Net Income $ 500 $ 1,400 Based on this information Ashton Company has a Multiple Choice $900 favorable sales variance $900 unfavorable sales variance $2,200 favorable sales variance
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