8. GP Variance Analysis with Complete InformationNacho Chips Company prepared the following budgetary information for July 2021:Sales (12,000 units)Cost of Goods SoldGross ProfitIn July, actual operations resulted in the production and sale of 13,000 units which were sold for aselling price of P 34 per unit. The unit cost of goods sold increased by P 3.REQUIRED:1. Overall GP variance2. Sales price variance3. Sales volume variance4. Cost price variance5. Cost volume varianceP 432,000288.000P 144,0009. GP Variance Analysis with Incomplete InformationChix Pesto Company has requested you to determine the cause of the difference between its 2020 and2021 gross profit based on the following data:1. Overall GP variance2.Price factor3. Cost factor4. Volume factor2020P 200,000120,000P 80,000SalesCost of Goods SoldGross ProfitNo additional data was made available except that unit sales increased by 20% in 2021.REQUIRED:2021P 252,000180,000P 72,000

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8. GP Variance Analysis with Complete Information Nacho Chips Company prepared the following budgetary information for July 2021: Sales (12,000 units) Cost of Goods Sold Gross Profit In July, actual operations resulted in the production and sale of 13,000 units which were sold for a selling price of P 34 per unit. The unit cost of goods sold increased by P 3. REQUIRED: 1. Overall GP variance 2. Sales price variance 3. Sales volume variance P 432,000 288.000 P 144,000 4. Cost price variance 5. Cost volume variance 9. GP Variance Analysis with Incomplete Information Chix Pesto Company has requested you to determine the cause of the difference between its 2020 and 2021 gross profit based on the following data: 2021 2020

8. GP Variance Analysis with Complete Information Nacho Chips Company prepared the following budgetary information for July 2021: Sales (12,000 units) Cost of Goods Sold Gross Profit In July, actual operations resulted in the production and sale of 13,000 units which were sold for a selling price of P 34 per unit. The unit cost of goods sold increased by P 3. REQUIRED: 1. Overall GP variance 2. Sales price variance 3. Sales volume variance P 432,000 288.000 P 144,000 4. Cost price variance 5. Cost volume variance 9. GP Variance Analysis with Incomplete Information Chix Pesto Company has requested you to determine the cause of the difference between its 2020 and 2021 gross profit based on the following data: 2021 2020

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 8P: Preparing a performance report Use the flexible budget prepared in P7-6 for the 29,000-unit level of...

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Preparing a performance report Use the flexible budget prepared in P7-6 for the 29,000-unit level of activity and the actual operating results listed below for the 29,000- unit level. Required: 1. Prepare a performance report. 2. List the major reasons why the actual operating income at 29,000 units differs from the master budget operating income at 30,000 units in Figure 7-12. 3. Given the level at which the company operated, how was its cost control? Item Direct materials: Direct labor:
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