33 What is the cost volume variance? *Sample format: 111,111 F or 111,111 UNational Co. produces and sells cellular phone blaster, a gadget which explodes when activatedwith a remote com mander. This is used by cell phone owners when their unit is snatched from themor is taken by thieves. The static master budget and the adu al results of operations for the monthof June are as follows:Budget8,000 unitsP800,000480,000P320.000AdualSalesCost of goods soldGross profit9,600 un itsP1,056,000556.800P499.200Management wants an expla ntation ofthe favorable gross profit variance of P179,200 (acual grossprofit of P499,200 less budgeted gross profit of P320,000).

Cost Volume Variance refers to the variance which arises when actual cost of goods sold differs…

Answered: What is the cost volume variance? *…

Business

Accounting

What is the cost volume variance? * Sample format: 111,111 F or 111,111 U

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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