The Guangzhou Corporation (GC) sells two brands of wine glasses: Plain and Chic. GC provides the following information for sales in the month of June 2018: B Click the icon to view the information for sales.) All variances are to be computed in contribution-margin terms. Required 1. Calculate the sales-quantity variances for each product for June 2018. 2. Calculate the individual-product and total sales-mix variances for June 2018. Calculate the individual-product and total sales-volume variances for June 2018. 3. Briefly describe the conclusions you can draw from the variances. Requirement 1. Calculate the sales-quantity variances for each product for June 2018. Begin by determining the basic formula for Guangzhou Corporation's static-budget total contribution margin (CM). Plain wine glasses Chic wine glasses Budgeted Budgeted Budgeted Budgeted Budgeted Budgeted Static-budget VX ) + ( X ) = total CM les $ 5,600 2,000 units 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 $2 per unit $6 per unit $1,400 U 60% bet