The Endo Corporation sells two brands of wine glasses: Plain and Chic. Endo provides the following information for sales in the month of June 2020: (Click the icon to view the data for sales.) All variances are computed in contribution-margin terms. Read the requirements Data table Static-budget total contribution margin Budgeted units to be sold of all glasses Budgeted contribution margin per unit of Plain Budgeted contribution margin per unit of Chic Total sales-quantity variance Actual sales-mix percentage of Plain $ 12,650 2,300 units $4 per unit $10 per unit $3,300 U 60% - Requirement 1. Calculate the sales-quantity variances for each product for June 2020. Begin by determining the basic formula for Endo Corporation's static-budget total contribution margin (CM). Budgeted Plain wine glasses Budgeted Budgeted Units x Sales-mix % x CM per unit )+( Chic wine glasses Budgeted Units X Budgeted Sales-mix % x Budgeted CM per unit )= Static-budget total CM Rearrange the formula to determine the sales mix for each product. The sales-mix percentage of Plain wine glasses is The sales-mix percentage of Chic wine glasses is 75%. 25 % Next, determine the formula and compute the budgeted CM based on actual units sold of all products at the budgeted mix Total static-budget CM 12,650 Budgeted CM based on actual Total sales-quantity variance = 3,300 $ units sold at the budgeted mix 9,350 Next, determine the formula and compute the budgeted CM based on actual units sold of all products at the budgeted mix. Total static-budget CM 12.650 Total sales-quantity variance 3,300 = $ Budgeted CM based on actual units sold at the budgeted mix 9,350 The actual number of all glasses sold is 1,700 units. Now determine the formula, then calculate the sales-quantity variances for each product for June 2020. Label each variance as favorable (F) or unfavorable (U). Enter percentages, if any, as decimals to two places, X.XX. Enter all variances as positive numbers.) Budgeted Actual (# of all glasses sold # of all glasses sold )x Plain ( 2,300 1,700 )x Budgeted sales-mix % 0.75 Budgeted CM per glass Sales-quantity variance 4.00 Chic ( 2,300 1,700 0.25 10.00 $ 1,800 U $ 1.500 U Requirement 2. Calculate the individual-product and total sales-mix variances for June 2020. Calculate the individual-product and total sales-volume variances for June 2020. Requirement 2. Calculate the individual-product and total sales-mix variances for June 2020. Calculate the individual-product and total sales-volume variances for June 2020. Begin with the individual-product sales-mix variances for June 2020. Determine the formula, then calculate the variance for each product. Label each variance as favorable (F) or unfavorable (U). (Enter percentages, if any, as decimals to two places, XXX. Enter all variances as positive numbers.) Actual Actual # of all glasses sold x ( sales-mix % Plain Chic 1,700 1,700 0.60 0.40 The total sales-mix variance is $ 1,530 F Budgeted sales-mix % Budgeted CM per glass Sales-mix variance 0.75 0.25 )x $ 4 $ 10 = $1,020 U $2,550 F Now calculate the individual-product sales-volume variances for June 2020. Determine the formula, then calculate the variance for each product. Label each variance as favorable (F) or unfavorable (U). (Enter all variances as positive numbers.) Sales-volume Actual sales qty in units Budgeted sales qty in units)x Budgeted CM per glass variance Now calculate the individual-product sales-volume variances for June 2020. Determine the formula, then calculate the variance for each product. Label each variance as favorable (F) or unfavorable (U). (Enter all variances as positive numbers.) Sales-volume Actual sales qty in units Budgeted sales qty in units Budgeted CM per glass variance Plain