Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. margot’s ice cream operates several stores in a

Margot’s Ice Cream operates several stores in a majormetropolitan city and its suburbs. Its...

60.1K

Verified Solution

Question

Accounting

Margot’s Ice Cream operates several stores in a majormetropolitan city and its suburbs. Its budget and operating datafor the current year follow:

FlavorBudgeted DataActual Operating Results
GallonsSelling Price per GallonVariable Costs per GallonGallonsSelling Price per GallonVariable Costs per Gallon
Vanilla360,000$2.25$1.55300,000$2.10$1.45
Chocolate450,0003.502.60420,0003.352.50
Strawberry300,0002.801.70430,0003.001.75
Anchovy90,0004.503.00210,0005.003.20

Required:

1. Compute these variances for the individual flavors and totalquantity sold. (Do not round intermediatecalculations.)

Answer & Explanation Solved by verified expert
3.6 Ratings (611 Votes)
NoteSales variance is calculated in order understand the deviationsfrom the budgeted plans as against the actual resultsSales is commonly understood as revenue profit maximization isone of the goal of financial management as such every organisationchalks out a revenue plan in each financial year to attain minimumrate of return on    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

In: AccountingMargot’s Ice Cream operates several stores in a majormetropolitan city and its suburbs. Its budget...Margot’s Ice Cream operates several stores in a majormetropolitan city and its suburbs. Its budget and operating datafor the current year follow:FlavorBudgeted DataActual Operating ResultsGallonsSelling Price per GallonVariable Costs per GallonGallonsSelling Price per GallonVariable Costs per GallonVanilla360,000$2.25$1.55300,000$2.10$1.45Chocolate450,0003.502.60420,0003.352.50Strawberry300,0002.801.70430,0003.001.75Anchovy90,0004.503.00210,0005.003.20Required:1. Compute these variances for the individual flavors and totalquantity sold. (Do not round intermediatecalculations.)

Other questions asked by students

Q

Which of the following is not an image file format O TIFF O BMP GIF

Biology
Q

A tuning fork of frequency 340 Hz is held vibrating at the open end of...

Physics
Q

Marek invested PLN 4500 Polish z oty in a bank that paid interest per annum...

Basic Math
Q

Consider the region enclosed by the graphs of 2y = 3?, y = 8, and...

Basic Math
Q

0899 0251 82 19 1423 OA 9 OB 600 OC 72 O D 36

Algebra
Q

Identify the coordinates of the extrema Input minimum on the left first ty O Relative...

Algebra
Q

The Jewel Box purchases jewellery from around the world and sells to local...

Accounting
Q

Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income...

Accounting
Q

PLEASE HELP WITH NUMBER 3, 10 AND 11!!! Problem...

Accounting
Q

Dividends Andrews Company has $95,000 available to pay dividends. It has 2,000 shares of 10%,...

Accounting
Q

Sal is a 50% owner in a seafood restaurant. He has been a material participant...

Accounting
Q

A loan is being repaid with annual payments of $500 at the end of each...

Finance