The sales volume variance for August 2014.

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Answer 1

Question

Chapter 14, Problem 14.38P

1.

To determine

To compute: The sales volume variance for August 2014.

2.

To determine

To compute: The total sales mix variance.

3.

To determine

To compute: The total sales quantity variance.

4.

To determine

To explain: The result as calculated in part 1, 2 and 3.

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As of July 1, 2022, the investee had assets with a book value of $3 million and liabilities of $74,400. At the time, Carter held equipment appraised at $364,000 more than book value; it was considered to have a seven-year remaining life with no salvage value. Carter also held a copyright with a five-year remaining life on its books that was undervalued by $972,000. Any remaining excess cost was attributable to an indefinite-lived trademark. Depreciation and amortization are computed using the straight-line method. Burrough applies the equity method for its investment in Carter. Carter's policy is to declare and pay a $1 per share cash dividend every April 1 and October 1. Carter's income, earned evenly throughout each year, was $598,000 in 2022, $639,600 in 2023, and $692,400 in 2024. In addition, Burrough sold inventory costing $91,200 to Carter for $152,000 during 2023. Carter resold $92,000 of this inventory during 2023 and the remaining $60,000 during 2024. Required: a. Determine…

Answer 2

Question

Chapter 14, Problem 14.38P

1.

To determine

To compute: The sales volume variance for August 2014.

2.

To determine

To compute: The total sales mix variance.

3.

To determine

To compute: The total sales quantity variance.

4.

To determine

To explain: The result as calculated in part 1, 2 and 3.

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Answer 3

Question

Chapter 14, Problem 14.38P

1.

To determine

To compute: The sales volume variance for August 2014.

2.

To determine

To compute: The total sales mix variance.

3.

To determine

To compute: The total sales quantity variance.

4.

To determine

To explain: The result as calculated in part 1, 2 and 3.

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Answer 4

Question

Chapter 14, Problem 14.38P

1.

To determine

To compute: The sales volume variance for August 2014.

2.

To determine

To compute: The total sales mix variance.

3.

To determine

To compute: The total sales quantity variance.

4.

To determine

To explain: The result as calculated in part 1, 2 and 3.

Expert Solution & Answer

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Answer 5

Chapter 14, Problem 14.38P

1.

To determine

To compute: The sales volume variance for August 2014.

2.

To determine

To compute: The total sales mix variance.

3.

To determine

To compute: The total sales quantity variance.

4.

To determine

To explain: The result as calculated in part 1, 2 and 3.

Answer 6

Chapter 14, Problem 14.38P

1.

To determine

To compute: The sales volume variance for August 2014.

Answer 7

Chapter 14, Problem 14.38P

1.

To determine

To compute: The sales volume variance for August 2014.

Answer 8

2.

To determine

To compute: The total sales mix variance.

Answer 9

2.

To determine

To compute: The total sales mix variance.

Answer 10

3.

To determine

To compute: The total sales quantity variance.

Answer 11

3.

To determine

To compute: The total sales quantity variance.

Answer 12

4.

To determine

To explain: The result as calculated in part 1, 2 and 3.

Answer 13

4.

To determine

To explain: The result as calculated in part 1, 2 and 3.

Answer 14

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Answer 15

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Answer 16

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Answer 17

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The sales volume variance for August 2014.

To compute: The sales volume variance for August 2014.

To compute: The total sales mix variance.

To compute: The total sales quantity variance.

To explain: The result as calculated in part 1, 2 and 3.

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Chapter 14 Solutions