Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Matter Corp. buys and sells two types of sunglasses in New York: Duma and Kool. Budgeted and actual results for 2017 are as follows: EEB

image text in transcribed
image text in transcribed
image text in transcribed
Matter Corp. buys and sells two types of sunglasses in New York: Duma and Kool. Budgeted and actual results for 2017 are as follows: EEB (Click the icon to view the budgeted and actual results.) Compute the total sales-volume variance, the total sales-mix variance, and the total sales-quantity variance. (Calculate all variances in terms of contribution margin.) Show results for each product in your computations. Begin by calculating the budgeted contribution margin for each product and in total (Enter the sales mix as a whole number, % ) Selling Variable Cost CM perUnits Price per unit unit Sold Mix CM Duma Kool Total Now calculate the actual contribution margin for each product and in total. (Enter the sales mix as a whole number, X%.) Selling Variable Cost CM perUnits Price Sales per unit unit Sold Mix CM Kool Total Compute the total sales-volume variance. (Calculate all variances in terms of contribution margin.) Show results for each product in your computations. Determine the formula for sales-volume variance, then compute the sales-volume variance for each type of sunglasses and in total for Matter in 2017. Label each variance as favorable (F) or unfavorable (U). (Enter all variances as positive numbers. Abbreviation used: qty quantity.) The total sales-volume variance is S Now compute the total sales-mix variance. (Calculate all variances in terms of contribution margin.) Show results for each product in your computations. Now determine the formula for the sales-mix variance, then calculate the variance for each type of sunglasses and in total for 2017. Label each variance as favorable (F) or unfavorable (U) (Enter any percentages as a whole number. Enter all variances as positive numbers. Abbreviations used: CM contribution margin: VC variable cost.) variance The total sales-mix variance is $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting

Authors: Mark Lee Inman

2nd Edition

0434908320, 978-0434908325

More Books

Students also viewed these Accounting questions

Question

please dont use chat gpt AI 7 4 0 . .

Answered: 1 week ago