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TASK # 2 High-End Litts, Inc. SALES VARIANCES December 31, Year 5 Budgeted (Standard) Price Budgeted (Standard) Volume Actual Price Actual Volume Premium Lite Comm $275,000 $1575 3,275 $4,275 2,238 $ 274,000$1,600 2,8004,250 2.350 Elevators Eco 132 135 2,238 307 2,250 275 AP AQ SP AQ SP SQ Elevators Unfavorable Unfavorable Unfavorable Summary: (write your answer AP AQ SP AQ SP SQ Stair Lifts, Economy ariance sales volume variance Unfavorable Unfavorable Unfavorable Summary:(write your answer) AP AQ SP AQ SP SQ Use same format as abave Stair Lifts, Premium Ck G39 $(237,004) ariance- sales volume yariance: Unfavorable Unfavorable Unfavorable
Summary: (write your answer) AP AQ SP AQ SP SQ Use same format as abave Stair Lifts, Lite Comm Ck GSo $420,964 Unfavorable Unfavorable Summary:(write your answer) sales price variance = Total Unfavorable Unfavorable Unfavorable Summary:(write your answer)
Homework Answers
| 1 | 2 | 3 | |||||||||
| Elevators | AQ | * | AP | SP | * | AQ | SP | * | SQ | ||
| 135 | * | 274000 | 275000 | * | 135 | 275000 | * | 132 | |||
| 36990000 | 37125000 | 36300000 | |||||||||
| Sales price variance (1-2) | Sales volume variance(2-3) | ||||||||||
| -135000 | (i.e Unfavourable) | 825000 | (i.e favourable) | ||||||||
| Sales Variance (1-3) | |||||||||||
| 690000 | (i.e favourable | ||||||||||
| 1 | 2 | 3 | ||||||||||
| Economy | AQ | * | AP | SP | * | AQ | SP | * | SQ | |||
| 2250 | * | 1600 | 1575 | * | 2250 | 1575 | * | 2238 | ||||
| 3600000 | 3543750 | 3524850 | ||||||||||
| Sales price variance (1-2) | Sales volume variance(2-3) | |||||||||||
| 56250 | (i.e favourable) | 18900 | (i.e favourable) | |||||||||
| Sales Variance (1-3) | ||||||||||||
| 75150 | (i.e favourable | |||||||||||
| 1 | 2 | 3 | ||||||||||
| Premium | AQ | * | AP | SP | * | AQ | SP | * | SQ | |||
| 275 | * | 2800 | 3275 | * | 275 | 3275 | * | 307 | ||||
| 770000 | 900625 | 1005425 | ||||||||||
| Sales price variance (1-2) | Sales volume variance(2-3) | |||||||||||
| -130625 | (i.e unfavourable) | -104800 | (i.eun favourable) | |||||||||
| Sales Variance (1-3) | ||||||||||||
| -235425 | (i.e unfavourable | |||||||||||
| 1 | 2 | 3 | ||||||||||
| Lite comm | AQ | * | AP | SP | * | AQ | SP | * | SQ | |||
| 2350 | * | 4250 | 4275 | * | 2350 | 4275 | * | 2238 | ||||
| 9987500 | 10046250 | 9567450 | ||||||||||
| Sales price variance (1-2) | Sales volume variance(2-3) | |||||||||||
| -58750 | (i.e unfavourable) | 478800 | (i.e favourable) | |||||||||
| Sales Variance (1-3) | ||||||||||||
| 420050 | (i.e favourable | |||||||||||
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Task #2: Calculate the sales price and sales volume variances (Task #2 SV). Complete the yellow s...
what is total sales ? Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz...
what is total sales ?
Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers. During May, it sold 400 computers at a $900 average price each. The May fixed budget Included sales of 450 computers at an average price of $870 each. AC Actual Quantity SQ - Standard Quantity AP - Actual Price SP - Standard Price 182. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable,...
TASK 2 - PC 4.2 Calculate material mix and yield variances Using the following equations for...
TASK 2 - PC 4.2 Calculate material mix and yield variances Using the following equations for Material or Quantity Variance Model. Note: SP – Standard Price; SQ – Standard Quantity; AQ – Actual Quantity; AP – Actual Price SP (AQ – SQ) and AQ (AP – SP) calculate the following variances using the question below: Kaltham LLC manufactures zips for the fabric industry in the UAE, she has the following direct material standard to manufacture one zip. 1.5 pounds per...
QS 21-21 Sales variances LO A1 In a recent year, BMW sold 217,544 of its 1 Series cars. Assume the company expected to...
QS 21-21 Sales variances LO A1 In a recent year, BMW sold 217,544 of its 1 Series cars. Assume the company expected to sell 226,744 of these cars during the year. Also assume the budgeted sales price for each car was $25,000, and the actual sales price for each car was $25,200. AQ = Actual Quantity SQ = Standard Quantity AP= Actual Price SP=Standard Price Compute the sales price variance and the sales volume variance, Actual Sales Flexible budget Budgeted...
need help thanks Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers....
need help thanks
Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers. During May, it sold 400 computers at a $900 average price each. The Mayfwed budget included sales of 450 computers at an average price of $870 each ADActual Quantity SQ - Standard Quantity AP Actual Price SP Standard Price 162. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable (Indicate the effect of each variance...
ht 1 Assignment Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers. During Ma...
ht 1 Assignment Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers. During May 2017, it sold 700 computers at a $1,100 average price each. The May 2017 fored budget included sales of 750 computers at an average price of $1,070 each. AQ = Actual Quantity SQ = Standard Quantity AP - Actual Price SP = Standard Price (1) Compute the sales price variance and the sales volume variance for May 2017 Actual Sales Flexible Budget...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 34,000 lbs. at $5.95 per lb 10,600 hours for a total of $220,480 Actual direct materials used Actual direct labor used Actual units produced 63,300 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.90 per pound and 10 minutes of direct labor at $21.80 per hour. AH Actual Hours SH Standard Hours AR Actual...
Comp Wiz sells computers. During May, it sold 700 computers at a $1,000 average price each. The May fixed budget include...
Comp Wiz sells computers. During May, it sold 700 computers at a
$1,000 average price each. The May fixed budget included sales of
750 computers at an average price of $950 each.
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. Classify it as favorable or unfavorable.
(Indicate the effect of each variance by selecting for favorable,
unfavorable, and no...
HOW DO I CALCULATE? Comp Wiz sells computers. During May, it sold 500 computers at a...
HOW DO I CALCULATE?
Comp Wiz sells computers. During May, it sold 500 computers at a $1,000 average price each. The May fixed budget included sales of 550 computers at an average price of $960 each. 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. Classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and...
Please create a variance analysis using the below data, equations, and answer sheet. LC TIDEWATER WRENCH...
Please create a variance analysis using the below data,
equations, and answer sheet.
LC TIDEWATER WRENCH COMPANY IN-HOUSE INCOME STATEMENTS (reasonable rounding off is OK) Actual Results Detail Summary 550 x 125 68750 Flexible Budget Detail Summary 550 x 120 66000 Master (Static) Budget Detail Summary 500 x 120 60000 Revenue Revenue Revenue 1500 30000 L 120001 COGS Materials ||1250 x 1.40 Labor 1640 x 21 Variable OH Total Var. Contr. Margin Less: Fixed OH Net Income 1750 34440 11890...
Check my work Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes...
Check my work Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year Ketual direct materials used Actual direct labor used Actual units produced 27,000 lbs. at $4.75 per lb. 8,600 hours for a total of $172,860 51.000 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.70 per pound and 10 minutes of direct labor at $21.00 per hour. AH - Actual Hours SH...
what is total sales ?
Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers. During May, it sold 400 computers at a $900 average price each. The May fixed budget Included sales of 450 computers at an average price of $870 each. AC Actual Quantity SQ - Standard Quantity AP - Actual Price SP - Standard Price 182. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable,...
QS 21-21 Sales variances LO A1 In a recent year, BMW sold 217,544 of its 1 Series cars. Assume the company expected to sell 226,744 of these cars during the year. Also assume the budgeted sales price for each car was $25,000, and the actual sales price for each car was $25,200. AQ = Actual Quantity SQ = Standard Quantity AP= Actual Price SP=Standard Price Compute the sales price variance and the sales volume variance, Actual Sales Flexible budget Budgeted...
need help thanks
Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers. During May, it sold 400 computers at a $900 average price each. The Mayfwed budget included sales of 450 computers at an average price of $870 each ADActual Quantity SQ - Standard Quantity AP Actual Price SP Standard Price 162. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable (Indicate the effect of each variance...
ht 1 Assignment Exercise 21-23 Computing and interpreting sales variances LO A1 Comp Wiz sells computers. During May 2017, it sold 700 computers at a $1,100 average price each. The May 2017 fored budget included sales of 750 computers at an average price of $1,070 each. AQ = Actual Quantity SQ = Standard Quantity AP - Actual Price SP = Standard Price (1) Compute the sales price variance and the sales volume variance for May 2017 Actual Sales Flexible Budget...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 34,000 lbs. at $5.95 per lb 10,600 hours for a total of $220,480 Actual direct materials used Actual direct labor used Actual units produced 63,300 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.90 per pound and 10 minutes of direct labor at $21.80 per hour. AH Actual Hours SH Standard Hours AR Actual...
Comp Wiz sells computers. During May, it sold 700 computers at a
$1,000 average price each. The May fixed budget included sales of
750 computers at an average price of $950 each.
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. Classify it as favorable or unfavorable.
(Indicate the effect of each variance by selecting for favorable,
unfavorable, and no...
HOW DO I CALCULATE?
Comp Wiz sells computers. During May, it sold 500 computers at a $1,000 average price each. The May fixed budget included sales of 550 computers at an average price of $960 each. 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. Classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and...
Please create a variance analysis using the below data,
equations, and answer sheet.
LC TIDEWATER WRENCH COMPANY IN-HOUSE INCOME STATEMENTS (reasonable rounding off is OK) Actual Results Detail Summary 550 x 125 68750 Flexible Budget Detail Summary 550 x 120 66000 Master (Static) Budget Detail Summary 500 x 120 60000 Revenue Revenue Revenue 1500 30000 L 120001 COGS Materials ||1250 x 1.40 Labor 1640 x 21 Variable OH Total Var. Contr. Margin Less: Fixed OH Net Income 1750 34440 11890...
Check my work Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year Ketual direct materials used Actual direct labor used Actual units produced 27,000 lbs. at $4.75 per lb. 8,600 hours for a total of $172,860 51.000 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.70 per pound and 10 minutes of direct labor at $21.00 per hour. AH - Actual Hours SH...
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