Variance analysis, working backward. The Hiro Corporation sells two brands of wine g...

Variance analysis, working backward. The Hiro Corporation sells two brands of wine glasses: Plain and Chic. Hiro provides the following information for sales in the month of June 2014:

All variances are to be computed in contribution-margin terms.

1. Calculate the sales-quantity variances for each product for June 2014.

2. Calculate the individual-product and total sales-mix variances for June 2014. Calculate the individual product and total sales-volume variances for June 2014.

3. Briefly describe the conclusions you can draw from the variances.