Question 1. (total profit variance, sales price and sales quantity variance) XYZ Company's budgeted and actual results for last year are as follows:

	Master budget	Actual results
Price	$500	$650
Sales volume (units)	8,000	6,000
Unit VC	$100	$100
Fixed costs	$250,000	$250,000

Required: (a) Compute budgeted and actual revenue, costs and profits:

	Master budget	Actual
Sales volume (units)
Revenue
Variable costs
Contribution margin
Fixed costs
Profit

In (b)-(d) below, enter favorable and unfavorable variances as positive and negative numbers, without F or U. (b) How much is the total profit variance? (enter negative numbers with a minus, i.e. enter negative $100 as -100 not ($100) ) $ 13 (c) How much is the sales volume variance? (enter negative numbers with a minus) $ 14 (d) How much is the sales price variance? (enter negative numbers with a minus) $ 15