Question
Phi Apparel Quarter Budgeted Sales Actual Sales Budgeted Production Actual Production Q1 $1,500,000 $1,480,000 $800,000 $820,000 Q2 $1,700,000 $1,680,000 $900,000 $880,000 Q3 $1,900,000 $1,850,000 $1,000,000
Phi Apparel
Quarter | Budgeted Sales | Actual Sales | Budgeted Production | Actual Production |
Q1 | $1,500,000 | $1,480,000 | $800,000 | $820,000 |
Q2 | $1,700,000 | $1,680,000 | $900,000 | $880,000 |
Q3 | $1,900,000 | $1,850,000 | $1,000,000 | $1,020,000 |
Q4 | $2,100,000 | $2,050,000 | $1,100,000 | $1,070,000 |
Requirement: Calculate the sales and production variances for each quarter and analyze the reasons for these variances. Discuss the implications for future sales and production planning.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
