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I. Sweeney Enterprises manufactures tires for the Formula I motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,600 tires at a
I. Sweeney Enterprises manufactures tires for the Formula I motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,600 tires at a variable cost of $71 per tire and total fixed costs of $55,000. The budgeted selling price was $114 per tire. Actual results in August 2017 were 3,500 tires manufactured and sold at a selling price of S116 per tire. The actual total variable costs were $280,000, and the actual total fixed costs were $51,000 Required: I. Prepare a sales volume variance analysis. repare a profit variance analysis (also known as a performance report)
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