nder 4-way analysis?
Q: Why do we need to have a "base" for the computation of different types of variances under gross…
A: Gross Profit: It is calculated by subtracting operating expenses from the operating income for the…
Q: Required: 1. What is the contribution margin market share variance? 2. What is the contribution…
A: Sales Price variance = (Actual Price-Budgeted Price)*Actual Quantity Sales Volume Variance = (Actual…
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A: Variance is the difference between budgeted and actual. Variance can be favorable or unfavorable…
Q: 4. Using the four-variance approach, what is the volume variance? a. P 6,930 U b. P 13,260 U с. РО…
A: 4. Using the four-variance approach, the volume variance is Volume Variance =…
Q: Which of the following statements is false? a. The sum of the cost price variance and cost volume…
A: In general terms, Variance refers to the spread between the numbers or the relationship existing. It…
Q: Determine the following: Sales price variance Sales volume variance Sales variance
A: Sales price variance = (Unit selling price 2021 - Unit selling price 2020)*Units sold 2021
Q: 3. What are the selling price variance and sales volume variance? 4. What are the sales mix variance…
A: Selling Price Variance = Actual Quantity x (Actual Price - Standard price) Sales Volume Variance =…
Q: volume
A: The material total variance is the sum of material price variance and material quantity variance.…
Q: Which of the following statements is false? * . The sum of the sales price variance and sales volume…
A: Statement 1 is true. Sales value variance is equal to sum of Sales price variance and Sales volume…
Q: What is the interpretation of the direct-material price variance and the direct-material purchase…
A: Definition: Variance: Variance refers to the different levels in the actual cost incurred and…
Q: Show how managers can gain insight into the causes of a sales-volume variance by subdividing the…
A: Sales Volume Variance:The sales volume variance is the difference of budgeted amount and the actual…
Q: Requirement: Compute for the following, 1. Cost price variance 2. Cost volume variance 3. Total…
A: Variance analysis refers to the comparison made between two accounting or financial variables and…
Q: 1 F or 11,111 U Total gross profit variance = Price varianc
A: Price variance refers to the actual unit cost of an item bought deducted from its standard cost and…
Q: What is the sales price variance?
A: Sales Price Variance is the variance in total revenue due to different selling price from the…
Q: of the following set of terms describes the same type of variance? a)Usage variance, efficiency…
A: The variance is the difference between the actual data and standard output of the production.
Q: What is the sale price variance under 3-way analysis? Sponge Inc. presents the following amounts…
A: Sales variance is the difference between actual sales revenue and budgeted sales revenue. It can be…
Q: What is the Sales Volume Variance under 4-way analysis?*
A: Any of the variances can be studied in four ways Fixed price/spending variance Variable…
Q: Required: 1. What is the contribution margin market share variance? 2. What is the contribution…
A: The correct answer for the above mentioned question is given in the following steps for your…
Q: Which of the following statements is false? * The sum of the sales volume variance and cost volume…
A: Sales volume variance Analysis Sales volume variance analysis which can be determine to know the…
Q: 1) When is the labor variance unfavorable? a) When the actual price is greater than the standard…
A: AN UNFAVORABLE LABOR VARIANCE MEANS THAT YOU HAVE PAID WORKER'S MORE THAN ANTICIPATED AND THIS IS…
Q: The incom
A:
Q: Total gross profit variance = Price variance = Price-Quantity variance = Cost variance =…
A: Variance is the deviation between actual figures and budgeted figures. If the deviation or change is…
Q: What are the relationships among a selling price variance, a sales mix variance, a sales…
A: Definition: Variance: Variance refers to the different levels in the actual cost incurred and…
Q: How much is the sales price-volume variance?
A: Changes in sales price from budget price = P100 Given, Sales quantity variance which is unfavorable…
Q: A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all…
A: Variance refers to the difference that is calculated by taking the actual cost that is incurred in…
Q: 2 no Question Requirement: Compute the following: (i) Material price Purchase variance (ii)…
A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Cite a specific example of the application of gross profit variance analysis. How will it help the…
A: Variance analysis for any variable enables the entity to break down the variable and establish…
Q: 1. Compute the following variances for May: a. Materials price and quantity variances. b. Labor rate…
A: Since you have asked a question with multiple sub parts, we will solve the first three sub parts…
Q: When is the direct labor time variance favorable? A. when the actual quantity used is greater than…
A: Direct labor time is the time taken o produce a unit . when the standard time to make a unit is less…
Q: 1. Explain the total sales volume variance for a period. How can this total variance be…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: Why are product cost variances (DM, DL, MOH) broken down and separated into price & quantity…
A: Direct Material Variance Materials Price Variance- A variance which shows the difference between…
Q: When is the direcet labor time variance unfavorable? A. when the actual quantity used is greater…
A: Direct Labor Rate Variance: The difference between the actual cost of direct labor and the standard…
Q: A D 1 Chapter 09: Applying Excel 2 3 Data Exhibit 9-8: Standard Cost Card 4 Inputs Standard Quantity…
A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…
Q: Sales variance is the difference between sales price and ---------- Labour rate variance Sales…
A: Sales variance =Actual sales - budgeted sales = Actual quantity * actual price - budgeted quantity *…
Q: Which of the following items would be useful to management in deciding whether to investigate the…
A: Standard costs are the budgeted costs related with the production, manufacturing and selling of…
Q: What is the sales price variance?
A: Variance: The difference between the actual cost or price and the budgeted (standard) cost or price…
Q: Which of the following statements is false? a. The sum of the sales volume variance and cost volume…
A: Statement (a) is false among all four because- The sum of sales quantity variance and sales mix…
Q: Explain why the quantity purchased (PQ) is used in computing the direct-material purchase price…
A: Material Purchase Price Variance: Material price variance occurs when the price expected to purchase…
Q: The sales price factor shows a variance of * D
A: Variance caused by selling price in total sales is known as sales price Variance. Formula: Sales…
Q: Determine the following: Sales price variance Sales volume variance Sales variance Cost price…
A: Standard costing is the costing method, where standard or expected costs are used in calculating…
Q: a. Direct materials price variance b. Direct materials quantity variance c. Direct materials cost…
A: Material variance is the difference between the actual cost of direct materials and the expected…
Q: a. Break down the material cost variance into different related variances: price variance, usage…
A: Variance analysis: It is the technique in budgeting that allows for analysis of the variances…
Q: Help question 26
A: False. Price variance is the difference between the Standard price of the input and actual price of…
Q: Which of the following underlying assumptions form(s) the basis for gross profit variance analysis?…
A: Gross profit is the difference between the sales revenue and cost of goods sold. Gross profit…
1. What is the sale price variance under 3-way analysis?
2. What is the cost volume variance under 4-way analysis?
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- For 2021, Hamilton Company had Sales of $5,700,000 and Cost of Goods Sold of $3,600,000. For 2020, Hamilton Company had Sales of $4,800,000 and Cost of Goods Sold of $2,900,000. a. What was the Cost of Goods Sold as a percent of Sales for 2021? b. What was the Cost of Goods Sold as a percent of Sales for 2020? c. Did Hamilton show improvement from 2020 to 2021? d. Is this an example of horizontal or vertical analysis?The following information was taken from the financial statements of Sunland Company: 2021 2020 Gross profit on sales $678,600 $760,000 Income before income taxes 205,400 225,000 Net income 260,000 225,000 Net income as a percentage of net sales 10% 9% Please show steps to finding answer Compute the cost of goods sold in dollars and as a percentage of net sales for each year. (Round percentages to 1 decimal place, e.g. 15.2%) 2021 2020 Cost of goods sold in dollars $enter a dollar amount $enter a dollar amount Cost of goods sold as a percentage of net sales nter percentages rounded to 1 decimal place % nter percentages rounded to 1 decimal place %The sales and profit for two years are as below: Sales Profit 2019 60000 17000 2020 90000 32000 Calculate sales when profit is OMR 100000
- ATC's common-size income statement for 2020 would report cost of goods sold as: a) Up by 5.3% b) 139.5% c) 65.9% d) 30,000 millionZebra Company reports the following figures for the years ending December 31, 2019 and 2018: 2019 2018 Net Sales $65,000 $40,000 Cost of Goods Sold 42,000 31,000 Gross Profit $23,000 $9,000 What are the percentage changes from 2018 to 2019 for Net Sales, Cost of Goods Sold and Gross Profit, respectively? (Round your final answers to one decimal place, X.X%) A. 100%, 155.6%, 35.5% B. 62.5%, 35.5%, 155.6% C. 100%, 0.7%, 0.4% D. 155.6%, 62.5%, 35.5%#35 For the year ended 2020, CHELSEA Enterprise had the following balances: Determine the amount of COGS (Cost of Goods Sold) for 2020.
- Shelcal, Inc. provides the following data for the year 2019: Net Sales Revenue, $437,690; Cost of Goods Sold, $255,000. O The gross profit as a percentage of net sales is (Round your answer to two decimal places.) OA) 37.96% OB) 39.80% OC) 60.20% OD) 40.8%Sharp Co. has generated these data for the 2 most recent years where 2021 sales price was 10% lower than 2020: 2021 2020 Sales P1,944,000 Cost of Sales 1,152,000 Gross Profit P 792,000 P1,900,800 1,113,600 P787,200 Change in gross profit due to change in cost price must be A. P95,232 F C. P151,896 F E. P151,896 U B. P113,495 U D. P113,495 FPierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018 - P792,000. Cost of sales = 2019 - 480,000; 2018 - 464,000. Gross profit = 2019 - P330,000; 2018 - P328,000. Sales price was 10% lower during 2019. The change in gross profit due to change in cost price must be: a P39,680 F b. P47,290 F c. P47,290 U d. P63,290 F e. P63,290 U
- Analyze the Gross profit ratio and give you a report on the same in 2020 and|2019? Gross profit Gross profit ratio= x100 Net sales In 2019= (25,361,421 /63,161,098) x100 =0.401 x100 =40.153% In 2020= (26,796,019/ 63,441,144) x100 =0.422 x100 =42.237%Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018 - P792,000. Cost of sales = 2019 - 480,000; 2018 - 464,000. Gross profit = 2019 - P330,000; 2018 - P328,000. Sales price was 10% lower during 2019. The change in gross profit due to change in cost price must be: P39,680 F P47,290 F P47,290 U P63,290 F P63,290 UThe following information is available for Grace Company for 2020: Disbursements for purchases P1,050,000; Increase in trade accounts payable 75,000; Decrease in merchandise inventory 30,000; Costs of goods sold for 2010 was P1,155,000. P1,095,000. P945,000.
