Tom and Lynda own Hercules Health Club. For August, Tom and Lynda budgeted for 700 individual memberships and 350 family memberships. Individual members pay $100 per month and families pay $150 per month. Variable costs are $35 and $60 per month, respectively, for individual and family memberships.
Actual results for August show 750 individual memberships and 250 family memberships.
Required:
a. What is Hercules' sales volume variance for August?
b. What is Hercules' sales mix variance for August?
c. What is Hercules' sales quantity variance for August?