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Oriole Sports sells volleyball kits that it purchases from a sports equipment distributor. The following static budget based on sales of 2,500 kits was prepared

Oriole Sports sells volleyball kits that it purchases from a sports equipment distributor. The following static budget based on sales of 2,500 kits was prepared for the year. Fixed operating expenses account for 70% of total operating expenses at this level of sales.

Sales $ 325,000
Cost of goods sold (all variable)

191,360
Gross margin 133,640
Operating expenses

30,450
Operating income $ 103,190

Assume that during the year Oriole Sports actually sold 2,700 volleyball kits during the year at a price of $132 per kit. Calculate the sales price variance

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