[Solved] LIBYA Inc decreased its sales price by 10

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LIBYA Inc decreased its sales price by 10% in 2006 as compared with 2005, its gross profit data are provided below 2005 2006 increase (decrease)

LIBYA Inc decreased its sales price by 10% in 2006 as compared with 2005, its gross profit data are provided below

2005 2006 increase (decrease)

Sales 2,000,000 2,340,000 340,000

CGS 1,400,000 1,911,000 511,000

GP 600,000 429,000 ( 171,000)

COMPUTE THE GROSS PROFIT VARIANCE

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