(Click the icon to view the information for sales.) ses, Plain and Chic, KC provides the following information for sales in the month of June: All variances are to be computed in contribution-margin terms. Required 1. Calculate the sales-quantity variances for each product for June. 2. Calculate the individual-product and total sales-mix variances for June. Calculate the individual-product and total sales-volume variances for June. 3. Briefly describe the conclusions you can draw from the variances. Budgeted Plain wine glasses Budgeted Budgeted Budgeted Chic wine glasses Budgeted Budgeted Static-budget units x sales-mix% x CM per unit )+( units x sales-mix% x CM per unit)= total CM Rearrange the formula to determine the sales mix for each product. The sales-mix percentage of Plain wine glasses is 80 % The sales-mix percentage of Chic wine glasses is 20% Next, determine the formula and compute the budgeted CM based on actual units sold of all products at the budgeted mix. Budgeted CM based on actual Total static-budget CM 15,000 Total sales-quantity variance = 6,500 units sold at the budgeted mix 8,500 The actual number of all glasses sold is 1700 units Now, determine the formula, and then calculate the sales-quantity variances for each product for June. Label each variance as favourable (F) or unfavourable (U), (Enter percentages, if as decimals rounded to two places, "XXX") Budgeted Actual Budgeted #of all glasses sold seling price x of all glasses sold x- Budgeted CM per glass Sales-quantity variance Plain 1700 0.80 )x 1700 4 3740 U Chic ( 1700 0.20 3x 1700 1360 U for Ju ances Sales information varia Bud u produc base I Static-budget total contribution margin Budgeted units to be sold of all glasses Budgeted contribution margin per unit of Plain Budgeted contribution margin per unit of Chic Total sales-quantity variance Actual sales-mix percentage of Plain $15,000 3,000 units $4 per unit $9 per unit $6,500 U 60% Print Done variance = units sold at the budgeted mix X