Problem 17-44 (Static) Sales Mix and Quantity Variances (LO 17-4) Lake Cellars produces and sells white wine. The following data concern the three varietals of white wine the company currently offers. Sales data for August are given as follows. Chardonnay Riesling Total $ 10.00 $ 7.00 $ Sauvignon Blanc Budgeted selling S 9.00 price Budgeted variable S 6.00 cost Budgeted selling 20,000 quantity Actual selling 9.25 price Actual variables 6.15 cost Actual selling 22,000 quantity $ 5.00 12,000 40,000 7.50 8,000 9.80 7.60 8,500 $ $ $ 7.10 $ 4.90 11,500 42.000 Required: a. Compute the sales price variance for all three wines b. Compute the activity variance for Lake Cellars for August c. Compute the mix and quantity variances for Lake Cellars for August Reg A Reg B and C Compute the sales price variance for all three wines. (Indicate the effect of each variance by selecting "F" for favorable, or " for unfavorable. If there is no effect, do not select either option.) Variety Sauvignon Blanc Chardonnay Price Variance 5,500 (1,700) 1,150 Riesling Total variance s Rega ReqB and C > Reg A Req B and C b. Compute the activity variance for Lake Cellars for August. C. Compute the mix and quantity variances for Lake Cellars for August. (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.) Show less b. Activity variance c Mix variance Quantity variance