Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the currentyear follow:FlavorVanillaChocolateStrawberryAnchovyFlavorVanillaChocolateStrawberryAnchovyTotalWSRequired:1. Compute these variances for the Individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and donot round Intermediate calculations.)#320EF3Gellons330,000412,500275,00082,500DBudgeted DataSelling VariablePrice par Coste perGallonGallon$ 1.30$ 2.003.002.554.002.101.452.50Sales Volume Variance$4F4RFL%5Actual Operating ResultaSellingPrice parGallon$ 1.852.852.754.50F5dallona270,000382,500405,000202,500T< PrevSales Mix VarianceGMacBook Air<62 of 3...VariableCosta perGallon$ 1.202.001.502.70Y&7HSales Quantity VarianceNext >U► 11*008J-9KMO0F10L<

Variance analysis is one of the important technique being used in management accounting. Under this,…

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 Gellons 330,000 412,500 275,000 82,500 Flavor Vanilla Chocolate Strawberry Anchovy Total Budgeted Data Belling Variable Price par Coste par Gallon dallon $ 2.00 $ 1.30 2.10 3.00 2.55 4.00 1.45 2.50 Actual Operating Results Selling Price par Gallon $ 1.85 Sales Volume Verlance Gallona 270,000 382,500 405,000 202,500 2.85 2.75 4.50 Required: 1. Compute these variances for the Individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round Intermediate calculations.) Variable Costa per Gallon $ 1.20 2.00 1.50 2.70 b Sales Mix Varlance Sales Quantity Variance

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 Gellons 330,000 412,500 275,000 82,500 Flavor Vanilla Chocolate Strawberry Anchovy Total Budgeted Data Belling Variable Price par Coste par Gallon dallon $ 2.00 $ 1.30 2.10 3.00 2.55 4.00 1.45 2.50 Actual Operating Results Selling Price par Gallon $ 1.85 Sales Volume Verlance Gallona 270,000 382,500 405,000 202,500 2.85 2.75 4.50 Required: 1. Compute these variances for the Individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round Intermediate calculations.) Variable Costa per Gallon $ 1.20 2.00 1.50 2.70 b Sales Mix Varlance Sales Quantity Variance

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 20BEA: Using Regression to Calculate Fixed Cost, Calculate the Variable Rate, Construct a Cost Formula, and...

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G http... hapter Review i My... Budgeted sales in units (a) Expected sales price (b) I Variable costs per unit (c) Income statements Sales revenue (a x b) Variable costs (a x c) Contribution margin Fixed costs Net income Req A Tra... Margin of safety Req B Man..... Jordan Company is considering the addition of a new product to its cosmetics line. The company has three distinctly different options: a skin cream, a bath oil, or a hair coloring gel. Relevant information and budgeted annual income statements for each of the products follow. Skin Cream Req C1 Relevant Information Skin Cream Bath Oil 120,000 200,000 $9 $2 $1,080,000 % M Questio... Complete this question by entering your answers in the tabs below. $1,200,000 $1,040,000 (240,000) (600,000) (640,000) 840,000 600,000 400,000 (609,000) (435,000) (120,000) $231,000 $165,000 $280,000 Required: a. Determine the margin of safety as a percentage for each product. b. Prepare revised income statements for each product, assuming a 20…
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 Selling Price per Gallon Actual Operating Results Gallons Variable Costs per Gallon Selling Price per Variable Costs per Gallons Gallon Gallon Vanilla 246,000 $ 1.30 $ 0.60 186,000 $ 1.15 $ 0.50 Chocolate 307,500 1.60 0.70 277,500 1.45 0.60 Strawberry Anchovy 205,000 1.85 0.75 335,000 2.05 0.80 61,500 2.60 1.10 181,500 3.10 1.30 Required: 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round intermediate calculations.) Flavor Vanilla Chocolate Strawberry Anchovy Total a. b. Sales Volume Variance Sales Mix Variance Sales Quantity Variance
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 Gallons Budgeted Data Selling Price per Gallon Actual Operating Results Vanilla 324,000 $ 1.95 Variable Costs per Gallon $ 1.25 Selling Price per Variable Costs per Gallons Gallon Gallon 264,000 $ 1.80 $ 1.15 Chocolate 405,000 2.90 2.00 375,000 2.75 1.90 Strawberry Anchovy 270,000 2.50 1.40 400,000 2.70 1.45 81,000 3.90 2.40 201,000 4.40 2.60 Required: 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round intermediate calculations.) a. b. C. Flavor Sales Volume Variance Sales Mix Variance Sales Quantity Variance Vanilla Chocolate Strawberry Unfavorable Unfavorable Favorable Unfavorable Favorable Unfavorable Favorable Favorable Favorable Anchovy Favorable Favorable Favorable Total Favorable Favorable Favorable
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: Actual Operating Results Budgeted Data Flavor Gallons. Selling Price per Gallon Variable Costs per Gallon Selling Price per Variable Costs per Gallons Gallon Gallon Vanilla Chocolate Strawberry Anchovy 324,000 $ 1.95 $ 1.25 264,000 $ 1.80 $ 1.15 405,000 2.90 2.00 375,000 2.75 1.90 270,000 2.50 1.48 400,000 2.70 1.45 81,000 3.90 2.40 201,000 4.40 2.60 Required: 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round Intermediate calculations.) Flavor Vanilla Chocolate Strawberry Anchovy Total Sales Volume Variance Sales Mix Variance Sales Quantity Variance
Click Draperies makes and sells curtains. Information related to its performance in 2020 is given below: (Click the icon to view the data.) Calculate Click Draperies' flexible budget for (a) revenues, (b) variable costs, (c) fixed costs, and (d) operating income. Calculate Click's flexible budget for (a) revenues. Begin by determining the formula and then solve for the amount. Actual units sold 1,560 X Budgeted selling price per unit = Flexible budget for revenues × $ 361,920 232 Calculate Click's flexible budget for (b) variable costs. Begin by determining the formula and then solve for the amount. Actual units sold 1,560 X Budgeted variable cost per unit × $ 108 = Calculate Click's flexible budget for (c) fixed costs. Click's flexible budget for fixed costs is $ 73,000. = = Flexible budget for variable costs 168,480 Calculate Click's flexible budget for (d) operating income. Begin by determining the formula and then solve for the amount. (Abbreviations used: rev = revenue, vc =…