Data for Lorraine Company are as follows: Budgeted price ...$14.30 Actual price .....$13.00 Budgeted quantity ..1,450 Actual
Question:
Data for Lorraine Company are as follows:
Budgeted price ...$14.30
Actual price .....$13.00
Budgeted quantity ..1,450
Actual quantity sold ..1,400
Required:
1. Calculate the sales price variance.
2. Calculate the price volume variance.
3. Suppose that the product is at the end of the maturity stage of the product life cycle. What information do these two variances provide to Lorraine’s managers?
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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1 Sales price variance 1430 13001400 1820 U 2 Price volume variance 1400 1450 1430 715 U 3 This p...View the full answer
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Related Book For 
Cost Management Accounting And Control
ISBN: 101
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
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