Claremont Company sells refurbished copiers. During the month, the company sold 175 copiers for total sales of $507,500. The budget for the month was to sell 170 copiers at an average price of $3,100. The sales price variance for the month was: Multiple Choice $19,500 unfavorable. $19,500 favorable. $35,000 unfavorable. $31.000 unfavorable
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- Saginaw Company is a garden products wholesale firm. In December, Saginaw Company expects to sell 30,000 bags of vegetable fertilizer at an average price of 5.30 per bag. Actual results are 30,600 bags sold at an average price of 5.20 per bag. Required: 1. Calculate the sales price variance for December. 2. Calculate the sales volume variance for December. 3. Calculate the overall sales variance for December. Explain why it is favorable or unfavorable. 4. What if December sales were actually 29,800 bags? How would that affect the sales price variance? The sales volume variance? The overall sales variance?Misty McDougall is the manager of the Adams Bagel Shop. The corporate office had budgeted her store to sell 2,600 ham sandwiches during the week beginning July 17. Each sandwich was expected to contain 7 ounces of ham. During the week of July 17, the store actually sold 3,200 sandwiches and used 22,900 ounces of ham. The standard cost of ham is $0.17 per ounce. The variance report from company headquarters showed an unfavorable materials usage variance of $799. Ms. McDougall thought the variance was too high, but she had no accounting background and did not know how to register a proper objection. Required a. Determine the material usage variance. Note: Indicate the effect of the variance by selecting favorable (F) or unfavorable (U), and select "None" if there is no effect (i.e., zero variance). Material usage variance Prey 1 of 5 MacRock Next >Milltown Company sells used cars. During the month, the dealership sold 30 cars at an average price of $23,000 each. The budget for the month was to sell 26 cars at an average price of $24,200. Compute the dealership’s total sales variance for the month. Multiple choice. $36,000 unfavorable. $60,800 favorable. $36,000 favorable. $96,800 unfavorable. $96,800 favorable.
- Aquarium Inc uses the number of museum visits as its measure of activity. During May, the company budgeted for 4,040 museum visits, but its actual level of activity was 4,200 museum visits. Revenue is variable and is $25 per museum visit. Actual revenue for May was $108,000. The revenue variance for May would be closest to: A. B. OC. D. $3,000 unfavorable $3,000 favorable $7,000 unfavorable $7,000 favorableA flower shop uses 230 clay pots a month. The pots are purchased for $2 each. Annual holding cost is estimated to be 25 percent of purchase cost, and ordering cost is $18 per order. The manager has been using an order quantity of 230 flower pots. a. Calculate the EOQ. (Round the final answer to the nearest whole number.) EOQ pots b. Calculate the EOQ's total annual inventory control cost. (Round the final answer to 2 decimal places.) TC $ c. What additional annual inventory control cost is the shop incurring by using the current order quantity? (Round the final answer to 2 decimal places.) Additional cost $Camille forecasts to sell 575 units of the perfume she is selling by the first week of December. At the end of the 1st week of December, she was able to disposed 500 perfumes at Php150 each. Of these 500 units, she gave a total of 20 giveaways. The total cost for each perfume is Php120. Determine Camille’s sale volume variance to assess how the variance affect the total profit. * 2,250 9,000 11,250 1,500
- The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Determine the price-volume variance ($)In June, Pharoah Manufacturing purchased 6600 gallons of blue dye used to produce stone-washed denim clothing. The price per gallon was $1.25 and the company used 6000 gallons of the dye during the month. The standard price for the dye is $1.28. What is the materials price variance for Pharoah for June? O $180 favorable O $198 favorable O $198 unfavorable O $180 unfavorableLet's say a retail outlet sells a seasonal product for $10 per unit. The cost of the productis $8 per unit. All units not sold during the regular season are sold for half the retailprice in an end-of-season clearance sale. Assume that demand for the product isuniformly distributed between 200 and 800. (please answer a-c) thank you a. What is the recommended order quantity?b. What is the probability that at least some customers will ask to purchase the product after the outlet is sold out? That is, what is the probability of a stock-out using your order quantity in part (a)?c. To keep customers happy and returning to the store later, the owner feelsthat stock-outs should be avoided if at all possible. What is your recommended orderquantity if the owner is willing to tolerate a 0.15 probability of a stock-out?
- Charlene Ltd manufactures and sells laptops and uses standard costing. For the month of November there was no beginning inventory, there were 2,800 units produced and 2,400 units sold. The manufacturing variable cost per unit is $385 and the variable operating cost per unit is $312.50. The actual and fixed manufacturing cost is $450,000 and the fixed operating cost is $75,000. The selling price per unit is $925. The budgeted units to be produced are 2,750. There are no price-, efficiency-, or spending variances. Any production- volume variance is written off to cost of goods sold in the month in which it occurs. When calculating the budgeted overhead rate for fixed costs round to the nearest cent. a. Prepare the income statement for Charlene Limited for November under absorption costing and variable costingCharlene Ltd manufactures and sells laptops and uses standard costing. For the month of November there was no beginning inventory, there were 2,800 units produced and 2,400 units sold. The manufacturing variable cost per unit is $385 and the variable operating cost per unit is $312.50. The actual and fixed manufacturing cost is $450,000 and the fixed operating cost is $75,000. The selling price per unit is $925. The budgeted units to be produced are 2,750. There are no price-, efficiency-, or spending variances. Any production- volume variance is written off to cost of goods sold in the month in which it occurs. When calculating the budgeted overhead rate for fixed costs round to the nearest cent. (a) Prepare the income statement for Charlene Limited for November under absorption costing and variable costing. (b) Reconcile the difference in operating income calculated using variable costing and absorption costing. Then explain why there is a difference in the operating profit under…During the month of March, Baker's Express purchased 10,000 pounds of flour at $1 per pound. At the end of March, Baker's Express found that it had a favorable materials price variance of $500. The standard cost per pound must be: a. $1.95. b. $1.05. c. $0.95. d. $1.00.