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 450computers at an per unit price of $1,080.AQ Actual QuantitySQ Standard QuantityAP Actual PriceSP- Standard Price1&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 SalesFlexible Budget00S0Budgeted Sales

Budgeted sales SQSPSQ × SP4501080486000

Answered: Mia Wiz sells computers. During May, it…

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 500 computers at a $800 per unit price. The fixed budget for May predicted sales of 550 computers at an per unit price of $780. AQ = Actual QuantitySQ = Standard QuantityAP = Actual PriceSP = Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Identify it as favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)
The Amherst Company produces engine parts for car manufacturers. A new accountant intern at Amherst has Begin with the flexible budget columns, then the sales volume variance column. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Round your answers to the nearest whole dollar.) Actual Flexible-Budget Results Variance Units sold 106,000 Revenues (sales) $ 683,700 470,000 Variable costs Contribution margin 213,700 200,700 Fixed costs $ 13,000 Operating income Flexible Budget Question Viewer
Komatsu company’s budget for sales was 1,000 of small size tractor for $1,200 per the tractor. The company’s actual sales was $1,365,000, sales units for 1,300 bikes. What are the Sales Price Variance and Sales Activity Variance? And show in graph.
Need help ASAP! Thanks for the help!
marigold corp.'s variance report for the purchasing department reports 2000 units of material a purchase and 2800 units of material b purchased. it also reports standard prices of $2 for material a and $3 for material b. actual prices reported are $2.10 for material a and $2.80 for material b marigold should report a total price variance of
Please show calculation
By year-end, Oriole Corp. had recognized standard cost variances for all of its production costs, including DM, DL, variable-MOH, and fixed-MOH. The following variances exist per the trial balances; the balance of COGS at this time is $130,390. DM price variance DM efficiency variance DL price variance DL efficiency variance $5,920 Credit 4,080 Debit 1,830 Debit 2,420 Credit Variable-MOH price variance Variable-MOH efficiency variance Fixed-MOH price variance Fixed-MOH volume variance $3,860 Debit 240 Debit 1,860 Debit 870 Credit
You are required to calculate:i. The sales price variance. ii. The sales volume profit variance. iii. The sales mix variance profit. iv. The sales quantity profit volume variance.
What is the total gross profit variance?
Mia Wiz sells computers. During May, it sold 300 computers at a $800 per unit price. The fixed budget for May predicted sales of 350 computers at an per unit price of $780. 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. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Sales $ Flexible Budget 0 0 $ 0 Budgeted Sales
ty Variance OF Master Budget (19,200 units) 57,600
Clementine Company makes skateboards. They prepare master and flexible budgets and then perform variance analysis after the budget plan period elapses. Their data is as follows: Selling price per unit Budget $98 Variable cost per unit Quantity sold 1,044 $50 Actual $97 $46 1,036 What is the Clementine's flexible budget variance for VARIABLE COSTS? If the variance is unfavorable put a minus sign in front of your answer. Enter your answer without commas or decimals.

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