Financial accounting question The Vortex Equipment Co. manufactures two lawnmower models: the EcoCut and the TurboMax. Thefollowing information was collected:EcoCut Turbo MaxBudgeted sales in units4,000 2,000Budgeted selling price$400 $900Budgeted contribution margin $160 $420Actual sales in unitsActual selling price3,500 2,500$380 $920What is the total sales-volume variance in terms of thecontribution margin?

Step 1: Define Sales Volume VarianceSales Volume Variance in terms of contribution margin measures…

Answered: The Vortex Equipment Co. manufactures…

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter10: Forecasting Financial Statement

Section: Chapter Questions

Problem 12PC

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Sunny Corporation has collected the following data for one of its products: Direct materials standard (3 pounds per unit @ $0.40/lb.) Actual direct materials purchased Actual Direct Materials Used (AQU) Actual Price (AP) paid per pound How much is the direct materials price variance? O A. $1,610 unfavorable B. $2,240 favorable C. $1,610 favorable O D. $2,240 unfavorable $1.20 per finished good 32,000 pounds 23,000 pounds $0.47
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JPL, Incorporated has provided its sales and expense data for the most recent period. The Controller has asked you prepare a spreadsheet that shows the related CVP Analysis computations. Given the following information complete a CVP analysis for JPL, Incorporated: Unit sales Selling price per unit Variable expenses per unit Fixed expenses 11,200 units $ 75 per unit $45 per unit $ 210,000 Required: Use the data to answer the following. 1. Compute the CM ratio and variable expense ratio. 2. Compute the break-even sales. 3. Compute the margin of safety. 4. Compute the degree of operating leverage.
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Estimated sales Beginning inventory Average selling price 27,000 books 0 books $83 per book Variable production costs $49 per book Fixed production costs $621,000 per semester The fixed-cost allocation rate is based on expected sales and is therefore equal to $621,000 ÷ 27,000 books = $23 per book.
Samsung offers sales price discounts on some products. Samsung can use sales variance analysis to assess the effects of these sales discounts. Assumed data for one model of a Samsung television follow. TV Sales (units) Sales price per unit Budgeted 2,000 units $ 1,800 Actual 3,000 units $ 1,100 AQ = Actual Quantity AP Actual Price SP Standard Price SQ Standard Quantity Required: 1. & 2. Compute the sales price, sales volume and total sales variances and identify each as favorable or unfavorable. Actual Sales $ 0 Flexible Budget $ 10 10 $ 0 Fixed Budget
The following data are for Elm Leaf Apparel: Sales volume (units): Product XX Product YY Sales price: Product XX Product YY Variable cost per unit: A Product XX Product YY East 8,000 6,000 $22 $26 $13 $16 West 6,400 12,800 a. Determine the contribution margin for Product YY. $21 $28 $13 $16 b. Determine the contribution margin for the West Region.
Solomon Fruit Basket Company makes baskets of assorted fruit. The standard and actual costs of oranges used in each basket of fruit follow. Standard Actual Average number of oranges per basket Price per orange 8.70 9.20 x $0.30 x $0.25 $2.30 Cost of oranges per basket $2.61 Solomon actually produced 26,400 baskets. Required a. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). (For all requirements, Select "None" there is no effect (i.e., zero variance).) a. Total materials price variance b. Total materials usage variance
Stuart Fruit Basket Company makes baskets of assorted fruit. The standard and actual costs of oranges used in each basket of fruit follow. Standard Actual 9.40 Average number of oranges per basket Price per orange 9.00 x $0.30 x $0.25 Cost of oranges per basket $2.70 $2.35 Stuart actually produced 26,500 baskets. Required a. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). (For all requirements, Select "None" if there is no effect (i.e., zero variance).) a. Total materials price variance b. Total materials usage variance
The following data are for Moss Creek Apparel: East West Sales volume (units): Product XX 6,500 6,800 Product YY 3,000 5,000 Sales price: Product XX $17 $16 Product YY $22 $23 Variable cost per unit: Product XX $10 $10 Product YY $13 $13 a. Determine the contribution margin for Product YY. $ b. Determine the contribution margin for the West Region.
CT Co uses a standard absorption costing system and manufactures and sells a single product called the DG. The standards cost and selling price details for the DG are as follows. $ per unit Variable cost 12 Fixed cost 4 16 Standard profit 6 Standard selling price 22 The sales volume variance reported in June was $12,000 adverse. CT Co is considering using standard marginal costing as the basis for variance reporting in the future. (a) Calculate the sales volume variance that would be shown in a marginal costing operating statement for June.
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