1) Identify budgeted unit cost and unit price information and compare with actual results (i.e., budgeted unit cost, budgeted unit price, actual unit cost, actual unit price). Please interpret your findings.

Exhibit 4 Spanish Region, 2009 Results Variance Profit Plan Volume Euros ('000) (000) Actual Volume Euros 000) (000) Sales Data Sales ice-cream (volume in litres) Sales specialties (litres) Total Sales 3,685 16,294 409 3.330 4,094 19,624 3.575 400 3,975 15.507 3.251 18,758 (787) (79) (866) U U U U U U Cost of Goods Sold Cost ice-cream Dairy ingredients (litres) Other ingredients (100 gr.) Labor (hours) 2,653 1,769 34.37 6.923 2,670 279 2175 1.450 29.21 5,607 2.202 238 1,316 468 41 F F F Cost specialties Dairy ingredients (litres) Other ingredients (100 gr.) Labor (hours) Contribution margin 381 299 37.09 994 633 301 7,824 362 275 34.73 933 571 283 8,924 61 62 18 1,100 F F F F U Other Costs Supervision, energy, maintenance.... Depreciation Transfer from France Operating margin 2.145 391 2,166 (21) 391 2.126 (2.126) 4,241 (1,047) U U 5,288 736 413 U Selling and Administrative Expenses Delivery expenses Depreciation of trucks Subcontracted transportation Seling expenses Advertising Administrative salaries and expenses Rent Allocated central office expenses Profits before Interest and Taxes 758 (22) 424 (11) 77 (77) 786 41 1,408 (2) ( 644 (24) ) 100 193 1235 1149 11.177) 827 1,406 620 100 158 1.028 ccc U U Identifiable Assets Cash (average) Accounts Receivable (average) Plant and equipment (net of depreciation 1,669) Total identifiable assets 94 423 4,764 5.281 98 266 4837 5.201 156 (73) 80 Conditions for tourism Average summer temperature 302 C 28.5c Exhibit 2 French Region, 2009 Results Variance Profit Plan Volume Furos ('000) (1000) ( Actual Volume Furos (000) (000) Sales Data Sales ice-cream (volume in litres) ) Sales specialties (litres) Revenue from distribution Total Sales 4,010 445 17,879 3.661 4.618 405 20.005 3,377 79 23,461 2.126 F F (284) U 79F 1,921 F 4,455 21,540 5.023 Cost of Goods Sold Cost ice-cream Dairy ingredients (litres) Other ingredients (100 gr.) Labor (hours) 2.887 1.844 38.29 7,893 2,841 371 3,317 2.047 43.56 9,142 3.186 438 (1.249) U (345) U (67) U 410 316 40.03 1,121 693 388 8.233 368 298 36.02 Cost specialties Dairy ingredients (litres) Other ingredients (100 gr.) Labor (hours) Contribution margin Other Costs Supervision, energy, maintenance.... Depreciation Operating margin 1,015 655 362 8,663 106 F F 38 F 26 F 430 F F (118) U 2.206 467 5,560 2,324 467 5,872 312 F Selling and Administrative Expenses Delivery expenses Depreciation of trucks Seling expenses Advertising Administrative salaries and expenses Allocated central office expenses Profits before Interest and Taxes 881 507 1,078 1,141 788 1158 1,027 908 510 1,139 1,070 810 193 1.242 (47) (3) 3 (61) ) 71 (22) 125 215 U U U F F U U U F F Identifiable Assets Cash (average) Accounts Receivable (average) Plant and equipment (net of depreciation 2,322) Total identifiable assets 94 580 4.713 15.997 141 634 4.726 5.501 (47) (54) (13) 1114 Conditions for tourism Average summer temperature 29.8 C 29.2C Exhibit 3 Italian Region, 2009 Results Variance Profit Plan Volume Euros 000) ( (000) Actual Volume Furos (000) ) (000) 2.453 2772 2,725 10.967 2.232 13,199 2,480 276 2,756 11.106 2253 13.359 139F 21 F 160 F Sales Data Sales ice-cream (volume in litres) Sales specialties (litres) Total Sales Cost of Goods Sold Cost ice-cream Dairy ingredients (litres) Other ingredients (100 gr.) Labor (hours) 1.864 1.275 33.10 4.963 1.885 1.895 1,296 36.03 4,986 1,932 (23) ( (47) (28) CCC U U U Cost specialties Dairy ingredients (litres) Other ingredients (100 gr.) Labor (hours) Contribution margin 259 196 24.24 257 197 23.29 13 F (5) U BF 78 F 4,717 4,795 1.142 1.135 7 F Other Costs Supervision, energy, maintenance,... Depreciation Operating margin * 39 4 * 3,466 3,551 85 F Selling and Administrative Expenses Delivery expenses Depreciation of trucks Seling expenses Advertising Administrative salaries and expenses Rent Allocated central office expenses Profits before Interest and Taxes E3q ** ***** 11 ***] 14 F U U U F U 1,328 1.288 U F Identifiable Assets Cash (average) Accounts Receivable (average) Plant and equipment (net of depreciation 3,200) Total identifiable assets 357 2,763 3.234 20 (1) 2.764 3.229 Conditions for tourism Average summer temperature 29.7C 29.8C