Please do all Requirements
The ice-cream product group's results for June 2020 were as follows: (Click the icon to view the results.) Read the requirements. each static-budget variance into a flexible-budget variance and a sales-volume variance. (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Round dollar amounts to the near Data table Requirements 1. Calculate the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? 2. Break down each static-budget variance into a flexible-budget variance and a sales-volume variance. 3. Calculate the selling-price variance 4. Assume the role of management accountant at Luster. How would you present the results to John Gosher? Should he be more concerned? If so, why? John Gosher, the business manager for ice-cream products, is pleased that more pounds of ice cream were sold than budgeted and that revenues were up. Unfortunately, variable manufacturing costs went up, too. The bottom line is that contribution margin declined by $49,000, which is less than 2% of the budgeted revenues of $2,893,800. Overall, Gosher feels that the business is running fine. The ice-cream product group's results for June 2020 were as follows: (Click the icon to view the results.) Read the requirements. each static-budget variance into a flexible-budget variance and a sales-volume variance. (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Round dollar amounts to the near Data table Requirements 1. Calculate the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? 2. Break down each static-budget variance into a flexible-budget variance and a sales-volume variance. 3. Calculate the selling-price variance 4. Assume the role of management accountant at Luster. How would you present the results to John Gosher? Should he be more concerned? If so, why? John Gosher, the business manager for ice-cream products, is pleased that more pounds of ice cream were sold than budgeted and that revenues were up. Unfortunately, variable manufacturing costs went up, too. The bottom line is that contribution margin declined by $49,000, which is less than 2% of the budgeted revenues of $2,893,800. Overall, Gosher feels that the business is running fine
