Question
Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow:
Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow: Budgeted Data Actual Operating Results Flavor Vanilla Gallons Selling Price per Gallon Variable 276,000 $ 1.55 Costs per Gallon $ 0.85 Gallons Selling Price per Gallon Variable Costs per Gallon 216,000 $ 1.40 $ 0.75 Chocolate 345,000 2.10 1.20 315,000 Strawberry Anchovy 230,000 2.10 1.00 360,000 1.95 2.30 1.10 1.05 69,000 3.10 1.60 189,000 3.60 1.80 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.) Flavor Vanilla Chocolate Strawberry Anchovy Total Sales Volume Variance Sales Mix Variance Sales Quantity Variance
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