Problem 17-31 Sales Mix and Quantity Variances (LO 17-3) Matties Vineyards is a producer and wholesaler of three varieties of white wine. Sales data for November are given below: Sauvignon Blanc Chardonnay Riesling Total Budgeted selling price $ 7.85 $ 8.40 $ 7.40 Budgeted variable cost $ 5.70 $ 6.40 $ 5.40 Budgeted selling quantity 12,400 4,650 13,950 31,000 Actual selling price $ 7.60 $ 8.55 $ 7.05 Actual variable cost $ 5.60 $ 6.30 $ 5.05 Actual selling quantity 11,200 8,400 15,400 35,000

Required: (a) Compute the sales price variance for all three wines. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

(b) Compute the activity variance for Matties Vineyards for the year. (Indicate the effect of the variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Do not round your intermediate calculations. Round your answer to 2 decimal places.)

(c) Compute the mix and quantity variances for Matties Vineyards for the year. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Do not round your intermediate calculations. Round your answers to 2 decimal places.) ReferenceseBook & Resources Problem