The Muto Corporation sells two brands of wine glasses: Plain and Chic. Muto provides the following information for sales in the month of June 2017: (Click the icon to view the data for sales.) All variances are computed in contribution-margin terms. Data Table Read the requirements. Requirement 1. Calculate the sales-quantity variances for each product for June 2017. Begin by determining the basic formula for Muto Corporation's static-budget total contrib Chic wind Budgeted Units Plain wine glasses Budgeted Sales-mix % X Budgeted CM per unit Budgeted Units Budg Sales- Static-budget total contribution margin $ 18,125 Budgeted units to be sold of all glasses 2,500 units Budgeted contribution margin per unit of Plain $6 per unit Budgeted contribution margin per unit of Chic $11 per unit Total sales-quantity variance $5,075 U Actual sales-mix percentage of Plain 60% )+( Rearrange the formula to determine the sales mix for each product. 75 % The sales-mix percentage of Plain wine glasses is The sales-mix percentage of Chic wine glasses is Print Done 25 % Next, determine the formula and compute the budgeted CM based on actual units sold of all products at the budgeted mix. Budgeted CM based on actual units sold at the budgeted mix 0 Requirements X 1. Calculate the sales-quantity variances for each product for June 2017 2. Calculate the individual-product and total sales-mix variances for June 2017 Calculate the individual-product and total sales volume variances for June 2017. 3. Briefly describe the conclusions you can draw from the variances