Yogurt Yoghurt Yogurte sells every flavor of yogurt. Each flavor of yogurt is a separate division with toppings making up an additional division. The following information for the Heavenly Marshmallow flavor division was compiled for the prior period: Actual Results Master Budget 500 800 $2,725 $600 $400 $500 $600 Sales Volume (Units) Sales Revenue Variable Manufacturing Costs Variable Operating Costs Fixed Manufacturing Costs Fixed Operating Costs $4,200 $1,080 $600 $550 $650 QUESTION 1: Assuming variances are separately calculated for each line item listed above, which of the following statements is incorrect? O A. The actual unit sales price is $0.20 greater than the budgeted unit sales price. B. If the materiality threshold is $25, three volume variances should be investigated. C. The total variable cost variance under the flexible budget variance is a favorable variance of $50. D. The Heavenly Marshmallow product line is considered a profit center. O E. We can assume all master budget variances will be unfavorable because the sales revenue master budget variance is unfavorable.

Yogurt Yoghurt Yogurte sells every flavor of yogurt. Each flavor of yogurt is a separate division with toppings making up an additional division. The following information for the Heavenly Marshmallow flavor division was compiled for the prior period: Actual Results Master Budget 500 800 $2,725 $600 $400 $500 $600 Sales Volume (Units) Sales Revenue Variable Manufacturing Costs Variable Operating Costs Fixed Manufacturing Costs Fixed Operating Costs $4,200 $1,080 $600 $550 $650 QUESTION 1: Assuming variances are separately calculated for each line item listed above, which of the following statements is incorrect? O A. The actual unit sales price is $0.20 greater than the budgeted unit sales price. B. If the materiality threshold is $25, three volume variances should be investigated. C. The total variable cost variance under the flexible budget variance is a favorable variance of $50. D. The Heavenly Marshmallow product line is considered a profit center. O E. We can assume all master budget variances will be unfavorable because the sales revenue master budget variance is unfavorable.

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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