Exercise 1731 (Algo) Sales Mix and Quantity Variances (LO 174) Allonby Foods processes frozen meals for...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Exercise 1731 (Algo) Sales Mix and Quantity Variances (LO 174) Allonby Foods processes frozen meals for sale in grocery and other retail outlets. Two versions are produced: The FlavorPak version has a budgeted price of $16 per case and a standard variable cost of $9 per case. The Gourmet version has a budgeted price of $29 per case and a standard variable cost of $18 per case. At the beginning of the year, the Marketing Group at Allonby estimated that the company would sell 60,060 cases of the FlavorPak version and 36,036 cases of the Gourmet version. The actual results for the year showed that 56,760 cases of the FlavorPak version and 37,840 cases of the Gourmet version were sold. Total revenues generated by sales of both versions amounted to $1,997,950 with $1,062,400 coming from the Gourmet version sales. Required: a. Compute the sales activity variance for the year. b. Compute the mix and quantity variances for the year. Complete this question by entering your answers in the tabs below. Required A Required B Compute the sales activity variance for the year. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Activity variance Required A Required B> Exercise 1731 (Algo) Sales Mix and Quantity Variances (LO 174) Allonby Foods processes frozen meals for sale in grocery and other retail outlets. Two versions are produced: The FlavorPak version has a budgeted price of $16 per case and a standard variable cost of $9 per case. The Gourmet version has a budgeted price of $29 per case and a standard variable cost of $18 per case. At the beginning of the year, the Marketing Group at Allonby estimated that the company would sell 60,060 cases of the FlavorPak version and 36,036 cases of the Gourmet version. The actual results for the year showed that 56,760 cases of the FlavorPak version and 37,840 cases of the Gourmet version were sold. Total revenues generated by sales of both versions amounted to $1,997,950 with $1,062,400 coming from the Gourmet version sales. Required: a. Compute the sales activity variance for the year. b. Compute the mix and quantity variances for the year. Complete this question by entering your answers in the tabs below. Required A Required B Compute the mix and quantity variances for the year. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Mox variance Quantity variance Exercise 1731 (Algo) Sales Mix and Quantity Variances (LO 174) Allonby Foods processes frozen meals for sale in grocery and other retail outlets. Two versions are produced: The FlavorPak version has a budgeted price of $16 per case and a standard variable cost of $9 per case. The Gourmet version has a budgeted price of $29 per case and a standard variable cost of $18 per case. At the beginning of the year, the Marketing Group at Allonby estimated that the company would sell 60,060 cases of the FlavorPak version and 36,036 cases of the Gourmet version. The actual results for the year showed that 56,760 cases of the FlavorPak version and 37,840 cases of the Gourmet version were sold. Total revenues generated by sales of both versions amounted to $1,997,950 with $1,062,400 coming from the Gourmet version sales. Required: a. Compute the sales activity variance for the year. b. Compute the mix and quantity variances for the year. Complete this question by entering your answers in the tabs below. Required A Required B Compute the sales activity variance for the year. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Activity variance Required A Required B> Exercise 1731 (Algo) Sales Mix and Quantity Variances (LO 174) Allonby Foods processes frozen meals for sale in grocery and other retail outlets. Two versions are produced: The FlavorPak version has a budgeted price of $16 per case and a standard variable cost of $9 per case. The Gourmet version has a budgeted price of $29 per case and a standard variable cost of $18 per case. At the beginning of the year, the Marketing Group at Allonby estimated that the company would sell 60,060 cases of the FlavorPak version and 36,036 cases of the Gourmet version. The actual results for the year showed that 56,760 cases of the FlavorPak version and 37,840 cases of the Gourmet version were sold. Total revenues generated by sales of both versions amounted to $1,997,950 with $1,062,400 coming from the Gourmet version sales. Required: a. Compute the sales activity variance for the year. b. Compute the mix and quantity variances for the year. Complete this question by entering your answers in the tabs below. Required A Required B Compute the mix and quantity variances for the year. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Mox variance Quantity variance
Expert Answer:
Posted Date:
Students also viewed these accounting questions

At the time of his death, Norton was involved in the following: Owned land in joint tenancy with Emily. The land is worth $600,000 and was purchased by Norton 15 years ago for $150,000. Owned land in...

Are the standards (compare Ethics, Audit and Financial Statements) for the accounting profession truly global?

Allonby Foods processes frozen meals for sale in grocery and other retail outlets. Two versions are produced: The FlavorPak version has a budgeted price of $16 per case and a standard variable cost...

Using result (8.9), find f(x) when f (x) is (a) x (b) 1/x 5 (c) 1 3x

Describe the hierarchical and matrix organizational design.

What are the differences between the economists definition of capital and the accountants definition of capital? a. How does economic value accounting recognize the adverse effects of credit risk? b....

Evaluate capital investment proposals, using the following methods: average rate of return, cash payback, net present value, and internal rate of return. AppendixLO1

(Conceptual FrameworkGeneral) The Financial Accounting Standards Board (FASB) has developed a conceptual framework for financial accounting and reporting. The FASB has issued seven Statements of...

17. What section and subsection of the Internal Revenue Code sets forth the limitation on the deduction of S corporation losses by a shareholder? Enter your response in the answer fields below....

Assume that the History Department has a bulletin board in the hallway outside department offices labeled "Job Opportunities for History Students." Which of the following postings on the board could...

On October 1, Deloitte \& Coopers Price started a consulting firm. The asset, liability, and stockholders' equity account balances after each of the firm's first six transactions are shown below....

On June 1, a group of bush pilots in British Columbia, Canada, formed the Adventure Airlines, Inc., by selling \(\$ 51,000\) of common stock for cash. The group then leased several aircraft and...

During the first year of operation, 2011, Martin's Appliance recognized \$292,000 of service revenue on account. At the end of 2011 , the accounts receivable balance was \(\$ 57,400\). Even though...

A group of researchers has devised a stress questionnaire consisting of 15 life events. They are interested in determining whether there is crosscultural agreement on the relative amount of...

On January 2, 2023, Brook Company acquired machinery by issuing a 4%, $374,000 note due in 5 years on December 31, 2027. Annual payments are $84,175 each December 31. The payment schedule is:...

Transcribed image text: Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by...

A 6lb shell moving with a velocity ?? v0k explodes at point D into three fragments which hit the vertical wall at the points indicated. Fragments A, B, and C hit the wall 0.010 s, 0.018 s, and 0.012...

H Limited manufactures and sells two products, J and K. Annual sales are expected to be in the ratio of J:1, K:3. Total annual sales are planned to be 420 000. Product J has a contribution to sales...

E plc operates a marginal costing system. For the forthcoming year, variable costs are budgeted to be 60% of sales value and fixed costs are budgeted to be 10% of sales value. If E plc increases its...

A Limited has fixed costs of 60 000 per annum. It manufactures a single product which it sells for 20 per unit. Its contribution to sales ratio is 40%. A Limited's breakeven point in units is: A 1200...
Study smarter with the SolutionInn App