FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Please help me with show all calculation thanku
Problem 18.31 Contribution Margin Variance, Contribution Margin Volume Variance, Sales Mix Variance Haysbert Company provides management services for apartments and rental units. In general, Haysbert packages its services into two groups: basic and complete. The basic package includes advertising vacant units, showing potential renters through them, and collecting monthly rent and remitting it to the owner. The complete package adds maintenance of units and bookkeeping to the basic package. Packages are priced on a per-rental unit basis. Actual results from last year are as follows: Sales (rental units) Selling price Variable expenses Haysbert had budgeted the following amounts: Sales (units) Selling price Variable expenses Basic $ 2,000 $140 $85 Required: 1. Calculate the contribution margin variance. $ 4670 Favorable Favorable Complete 400 $300 $240 Basic Complete 460 $290 $242 1,950 $145 $90 2. Calculate the contribution margin volume variance. Round the budgeted average unit contribution margin to four decimal places. Round your final answer to the nearest cent. $ 536.6 Unfavorable 3. Calculate the sales mix variance. Round the budgeted average unit contribution margin to four decimal places. Round your final answer to the nearest cent.
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Transcribed Image Text:Problem 18.31 Contribution Margin Variance, Contribution Margin Volume Variance, Sales Mix Variance Haysbert Company provides management services for apartments and rental units. In general, Haysbert packages its services into two groups: basic and complete. The basic package includes advertising vacant units, showing potential renters through them, and collecting monthly rent and remitting it to the owner. The complete package adds maintenance of units and bookkeeping to the basic package. Packages are priced on a per-rental unit basis. Actual results from last year are as follows: Sales (rental units) Selling price Variable expenses Haysbert had budgeted the following amounts: Sales (units) Selling price Variable expenses Basic $ 2,000 $140 $85 Required: 1. Calculate the contribution margin variance. $ 4670 Favorable Favorable Complete 400 $300 $240 Basic Complete 460 $290 $242 1,950 $145 $90 2. Calculate the contribution margin volume variance. Round the budgeted average unit contribution margin to four decimal places. Round your final answer to the nearest cent. $ 536.6 Unfavorable 3. Calculate the sales mix variance. Round the budgeted average unit contribution margin to four decimal places. Round your final answer to the nearest cent.
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