Revenue variances Dickinsen Company gathered the following data for December: Sales price per unit Number of units of sales Total sales Planned Actual $5.80 $6.00 x 820,000 x 805,000 $4,756,000 $4,830,000
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- Data for Torleson Company are as follows: Required: 1. Calculate the sales price variance. 2. Calculate the sales volume variance. 3. Suppose that the product is in the introductory stage of the product life cycle. What information do these two variances provide to Torlesons managers?Compute the following: Total gross profit variance Sales mix variance Final sales volume variance Format: 11,111 F or 11,111 UCompute for: 1. Total gross profit variance 2. Sales mix variance 3. Final sales volume variance Note: Indicate if it is favorable or unfavorable
- Compute for the following and indicate if its FAVORABLE or UNFAVORABLE. Format: 11,111 F or 11,111 U Sales price variance = Sales volume variance= Sales variance=Using 6-way variance analysis, determine the following variances: 1. Sales volume variance 2. Price factor 3. Price-Quantity factor Format: 111,111 U or 111,111 FS1: Cost price variance is computed by deducting cost of sales this year at last year's cost price from cost of sales this year. S2: Sales this year at last year's price is the same as sales last year at this year's quantity. A. both are true C. S1 is true D. S2 is true B. both are false
- Which statement is true? A. Gross profit (GP) variance analysis, is an essential part of financial statements analysis that is used to evaluate the performance of a firm's departments responsible for the firm's line activities (functions). B. Increases and decreases in sales and cost of sales have direct relationship with increases and decreases in GP. C. If there is a negative sales price variance and there is no cost variance, the gross profit variance will be equal to the sales price variance. D. A zero cost variance indicates that there is no difference between the standard cost prices and actual cost prices. E. none of the aboveFormat: 11,111 U or 11,111 F 1. Sales price variance 2. Cost price variance 3. Quantity variance 4. Sales mix varianceA.) Sales Price Variance B.) Cost Price Variance C.) Quantity Variance D.) Total Gross Profit Variance E.) Sales Mix Variance F.) Final Sales Volume Variance
- Which of the following variances can be derived when the difference of the last year’s selling price and cost of goods sold per units is applied to the difference between the units sold last year and the current year? a. Total Volume Variance b. Sales Volume Variance c. Sales Mix Variance d. Total Gross Profit VarianceFind the values of the missing items (a) through (x). Assume the actual sales volume equals actual production volume. Marketing and Administrative Sales Price Variance Variance Units Sales Revenue Less: Variable Manufacturing Costs Variable marketing and administrative costs Contribution margin Fixed manufacturing costs Fixed marketing and administrative costs Operating Profit PreviousNext Reported income statement (based on actual sales volume) Manufacturing variance (a) (g) (n) (q) (r) (t) $4,320 $3,600 (0) $1,800 U $ 400 F (u) (p) (s) (v) (w) $3,600 F (X) $3,600 F Flexible Budget (based on actual sales volume (b) (h) (m) Sales Activity Variance 4,000 F (1) $19,200 (i) $4,800 $800 U $12,000 (k) $3,000 $4,000 (1) Master Budget (based on budgeted sales volume) 20,000 $30,000 (c) (d) (e) (f) $16,000 $10,000Revenue variances Rockport Industries Inc. gathered the following data for March: Sales price per unit Number of units of sales Total sales Planned $150 x 12,500 Actual $144 x 12,900 $1,875,000 $1,857,600 Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Compute the revenue price variance. b. Compute the revenue volume variance. $ c. Compute the total revenue variance.