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Problem 16-52 Sales Volume, Sales Quantity, and Sales Mix Variances [LO 16-3] Margot's Ice Cream operates...
Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Flavor Vanilla Chocolate Strawberry Anchovy Budgeted Data Selling Variable Price per costs per Gallon Gallon $1.50 $0.80 2.00 1.10 2.05 0.95 3.00 1.50 Gallons 270,000 337,500 225,000 67,500 $ 1 Actual Operating Results Selling Variable Price per costs per Gallons Gallon Gallon 210,000 $1.35 $0.70 307,500 1.85 1.00 355,000 2.25 1.00 187,500 3.50 1.70 Required: 1....
Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow Budgeted Data Selling Price per Actual Operating Results Selling Price per Gallon $2.10 Variable Variable Costs per Gallon $1.45 Costs per Gallon Flavor Gallons Gallon Gallons Vanilla $2.25 $1.55 360,000 450,000 300,000 90,000 300,000 420,000 430,000 210,000 chocolate 3.50 2.60 3.35 2.50 strawberry Anchovy 1.70 1.75 2.80 3.00 3.20 4.50 3.00 5.00 Required: 1. Compute these...
Margot’s Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Flavor Budgeted Data Actual Operating Results Gallons Selling Price per Gallon Variable Costs per Gallon Gallons Selling Price per Gallon Variable Costs per Gallon Vanilla 276,000 $ 1.55 $ 0.85 216,000 $ 1.40 $ 0.75 Chocolate 345,000 2.10 1.20 315,000 1.95 1.10 Strawberry 230,000 2.10 1.00 360,000 2.30 1.05 Anchovy 69,000 3.10 1.60 189,000 3.60 1.80...
several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Flavor Budgeted Data Actual Operating Results Gallons Selling Price per Gallon Variable Costs per Gallon Gallons Selling Price per Gallon Variable Costs per Gallon Vanilla 300,000 $ 1.75 $ 1.05 240,000 $ 1.60 $ 0.95 Chocolate 375,000 2.50 1.60 345,000 2.35 1.50 Strawberry 250,000 2.30 1.20 380,000 2.50 1.25 Anchovy 75,000 3.50 2.00 195,000 4.00 2.20 Required: 1. Compute the...
Break-Even with Multiple Products We Scream For Ice Cream sells ice cream in three flavors: Chocolate, Strawberry, and Vanilla. It sold 28,000 gallons last year, but it is still losing money. For every five gallons of ice cream sold, one gallon is Strawberry and the remainder is split evenly between Chocolate and Vanilla. Fixed costs for We Scream For Ice Cream are $48,174 and additional information follows: Chocolate Vanilla Strawberry Sales price per gallon $5.15 $5.15 $5.15 Variable cost per...
Question 1 (42 marks) Aunty Jane Inc. operates a chain of cupcake stores. Budgeted and actual operating data for its three Ontario stores for the previous month are as follows: Budgeted Data: Selling Price per kilogram Variable Cost per Unit per kilogram Sales volume in kilograms Market Volume in kilograms Chocolate $4.85 $3.00 46,000 100,000 Vanilla 5.10 3.20 30,000 120,000 Strawberry 5.85 3.40 14,000 88,000 Red Velvet 6.10 3.50 6,000 65,000 Lemon 6.50 3.90 16,000 80,000 Actual Data: Selling Price...
Problem 17-44 (Algo) Sales Mix and Quantity Variances (LO 17-4)Lake Cellars produces and sells white wine. The following data concern the three varietals of white wine the company currently offers. Sales data for August are given as follows. Sauvignon BlancChardonnayRieslingTotalBudgeted selling price$9.70$11.20$7.70Budgeted variable cost$7.15$8.45$6.05Budgeted selling quantity19,3007,30011,20037,800Actual selling price$9.90$7.30$8.30Actual variable cost$6.45$8.70$6.10Actual selling quantity20,9007,50011,00039,400 Required:a. Compute the sales price variance for all three wines. b. Compute the activity variance for Lake Cellars for August.c. Compute the mix and quantity variances for Lake Cellars for August.
Exercise 17-23 (Algo) Industry Volume and Market Share Variances (LO 17-3)D&B Ice Cream budgeted sales of 136,288 units of flavor C, assuming that the company would have 16 percent of 851,800 units sold in a particular market. The actual results were 126,630 units, based on a 14 percent share of a total market of 904,500 units. The budgeted contribution margin is $5.10 per unit. Required:Compute the sales activity variance, and break it down into market share variance and the industry volume...
2.00 points Exercise 17-25 Sales Mix and Quantity Variances (LO 17-3) option has a budgeted average price of $26 for a meal. The restaurant manager expects that 40 percent of t's diners will order he butet option The bufet option has a budgeted varlable cost of $17 and the a la carte aption averages $12 per meal in budgeted variable cost. The manager estimates that 2,100 people wil order a mea in any month For July, the restaurant served a...
Problem 8-20A Determining sales and variable cost volume variances LO 8-1, 8-3 Baird Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price $ 36.10 Materials cost 8.90 Labor cost 4.40 Overhead cost 6.00 Selling, general, and administrative costs 6.70 Planned fixed costs Manufacturing overhead $ 126,000 Selling, general, and administrative 52,000 Baird planned to make and sell 24,000 copies of the book. Required: a. -...