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Margots Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Flavor
Margots Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow:
Flavor | Budgeted Data | Actual Operating Results | ||||
---|---|---|---|---|---|---|
Gallons | Selling Price per Gallon | Variable Costs per Gallon | Gallons | Selling Price per Gallon | Variable Costs per Gallon | |
Vanilla | 252,000 | $ 1.35 | $ 0.65 | 192,000 | $ 1.20 | $ 0.55 |
Chocolate | 315,000 | 1.70 | 0.80 | 285,000 | 1.55 | 0.70 |
Strawberry | 210,000 | 1.90 | 0.80 | 340,000 | 2.10 | 0.85 |
Anchovy | 63,000 | 2.70 | 1.20 | 183,000 | 3.20 | 1.40 |
Required:
1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round intermediate calculations.)
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