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Mia Wiz sells computers. During May, it sold 400 computers at a $1,100 per unit price. The fixed budget for May predicted sales of 450 computers at an per unit price of $1,080. AQ-Actual Quantity SQ Standard Quantity AP Actual Price SP- Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Identify it as favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Sales Flexible Budget 0 0 $ 0 Budgeted Sales

Mia Wiz sells computers. During May, it sold 400 computers at a $1,100 per unit price. The fixed budget for May predicted sales of 450 computers at an per unit price of $1,080. AQ-Actual Quantity SQ Standard Quantity AP Actual Price SP- Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Identify it as favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Sales Flexible Budget 0 0 $ 0 Budgeted Sales

FINANCIAL ACCOUNTING
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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Mia Wiz sells computers. During May, it sold 400 computers at a $1,100 per unit price. The fixed budget for May predicted sales of 450 computers at an per unit price of $1,080. AQ Actual Quantity SQ Standard Quantity AP Actual Price SP- Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Identify it as favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Sales Flexible Budget 0 0 S 0 Budgeted Sales
Transcribed Image Text:Mia Wiz sells computers. During May, it sold 400 computers at a $1,100 per unit price. The fixed budget for May predicted sales of 450 computers at an per unit price of $1,080. AQ Actual Quantity SQ Standard Quantity AP Actual Price SP- Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Identify it as favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Sales Flexible Budget 0 0 S 0 Budgeted Sales
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