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Wilde Vintners produces and sells wine. The following data concern the three varietals of white wine the company currently offers. Sales data for November are given as follows: Budgeted selling price Budgeted variable cost Budgeted selling quantity Actual selling price Actual variable cost Actual selling quantity Sauvignon Blanc $ 21.00 $9.00 30,000 $21.50 $8.15 32,000 Chardonnay $ 25.00 $ 11.00 45,000 $ 23.90 $ 12.50 41,500 Riesling $15.00 $ 6.00 15,000 $ 16.40 $5.60 14,200 Total 90,000 87,700 Required: a. Compute the sales price variance for all three wines. b. Compute the sales activity variance for Wilde Vintners for November. c. Compute the mix and quantity variances for Wilde Vintners for November.

Wilde Vintners produces and sells wine. The following data concern the three varietals of white wine the company currently offers. Sales data for November are given as follows: Budgeted selling price Budgeted variable cost Budgeted selling quantity Actual selling price Actual variable cost Actual selling quantity Sauvignon Blanc $ 21.00 $9.00 30,000 $21.50 $8.15 32,000 Chardonnay $ 25.00 $ 11.00 45,000 $ 23.90 $ 12.50 41,500 Riesling $15.00 $ 6.00 15,000 $ 16.40 $5.60 14,200 Total 90,000 87,700 Required: a. Compute the sales price variance for all three wines. b. Compute the sales activity variance for Wilde Vintners for November. c. Compute the mix and quantity variances for Wilde Vintners for November.

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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Wilde Vintners produces and sells wine. The following data concern the three varietals of white wine the company currently offers. Sales data for November are given as follows: Budgeted selling price Budgeted variable cost Budgeted selling quantity Actual selling price Actual variable cost Actual selling quantity Sauvignon Blanc. $ 21.00 $9.00 30,000 $21.50 $ 8.15 32,000 Req A Chardonnay $25.00 $ 11.00 45,000 $ 23.90 $12.50 41,500 Req B and C Riesling $15.00 Compute the sales price variance for all three wines. $ 6.00 15,000 $ 16.40 $5.60 14,200 Required: a. Compute the sales price variance for all three wines. b. Compute the sales activity va iance for Wilde Vintners for November. c. Compute the mix and quantity variances for Wilde Vintners for November. Prov Complete this question by entering your answers in the tabs below. Total 6 of 8 90,000 ‒‒‒ 87,700 Next
Transcribed Image Text:Wilde Vintners produces and sells wine. The following data concern the three varietals of white wine the company currently offers. Sales data for November are given as follows: Budgeted selling price Budgeted variable cost Budgeted selling quantity Actual selling price Actual variable cost Actual selling quantity Sauvignon Blanc. $ 21.00 $9.00 30,000 $21.50 $ 8.15 32,000 Req A Chardonnay $25.00 $ 11.00 45,000 $ 23.90 $12.50 41,500 Req B and C Riesling $15.00 Compute the sales price variance for all three wines. $ 6.00 15,000 $ 16.40 $5.60 14,200 Required: a. Compute the sales price variance for all three wines. b. Compute the sales activity va iance for Wilde Vintners for November. c. Compute the mix and quantity variances for Wilde Vintners for November. Prov Complete this question by entering your answers in the tabs below. Total 6 of 8 90,000 ‒‒‒ 87,700 Next
c. Compute the mix and quantity variances for Wilde Vintners for November. Complete this question by entering your answers in the tabs below. Req A Compute the sales price variance for all three wines. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Variety Sauvignon Blanc Chardonnay Riesling Total variance Req B and C Req A Complete this question by entering your answers in the tabs below. Req B and C Price Variance Show less A b. Activity variance c. Mix variance c. Quantity variance b. Compute the sales activity variance for Wilde Vintners for November. c. Compute the mix and quantity variances for Wilde Vintners for November. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Show less A
Transcribed Image Text:c. Compute the mix and quantity variances for Wilde Vintners for November. Complete this question by entering your answers in the tabs below. Req A Compute the sales price variance for all three wines. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Variety Sauvignon Blanc Chardonnay Riesling Total variance Req B and C Req A Complete this question by entering your answers in the tabs below. Req B and C Price Variance Show less A b. Activity variance c. Mix variance c. Quantity variance b. Compute the sales activity variance for Wilde Vintners for November. c. Compute the mix and quantity variances for Wilde Vintners for November. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Show less A
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