Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Flavor Budgeted Data Selling Price per Gallon Actual Operating Results Gallons Vanilla 348,000 $ 2.15 Variable Costs per Gallon $ 1.45 Selling Price per Variable Costs per Gallons Gallon Gallon 288,000 $ 2.00 $ 1.35 Chocolate 435,000 3.30 2.40 405,000 3.15 2.30 Strawberry Anchovy 290,000 2.70 1.60 87,000 4.30 2.80 420,000 207,000 2.90 1.65 4.80 3.00 Required: 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round intermediate calculations.) Flavor Vanilla Chocolate Strawberry Anchovy Total b. Sales Volume Variance Sales Mix Variance Sales Quantity Variance

Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Flavor Budgeted Data Selling Price per Gallon Actual Operating Results Gallons Vanilla 348,000 $ 2.15 Variable Costs per Gallon $ 1.45 Selling Price per Variable Costs per Gallons Gallon Gallon 288,000 $ 2.00 $ 1.35 Chocolate 435,000 3.30 2.40 405,000 3.15 2.30 Strawberry Anchovy 290,000 2.70 1.60 87,000 4.30 2.80 420,000 207,000 2.90 1.65 4.80 3.00 Required: 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round intermediate calculations.) Flavor Vanilla Chocolate Strawberry Anchovy Total b. Sales Volume Variance Sales Mix Variance Sales Quantity Variance

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 9E: Nozama.com Inc. sells consumer electronics over the Internet. For the next period, the budgeted cost...

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Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit sales Selling price per unit Cost per unit Variable selling and administrative expense (per unit) Fixed selling and administrative expense (per year) Interest expense for the year Required: Prepare the company's budgeted income statement for the year. Gig Harbor Boating Budgeted Income Statement Check my work
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Margot’s Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Flavor Budgeted Data Actual Operating Results Gallons Selling Price per Gallon Variable Costs per Gallon Gallons Selling Price per Gallon Variable Costs per Gallon Vanilla 306,000 $ 1.80 $ 1.10 246,000 $ 1.65 $ 1.00 Chocolate 382,500 2.60 1.70 352,500 2.45 1.60 Strawberry 255,000 2.35 1.25 385,000 2.55 1.30 Anchovy 76,500 3.60 2.10 196,500 4.10 2.30 Required: 1. Compute these variances (sales volume variance, sales mix variance, sales quantity variance) for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round intermediate calculations.)
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