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11 Dec 2019
Profit equals the total amount of money made minus
a. Prices
b. Expenses
c. Revenue
d. Supply
Profit equals the total amount of money made minus
a. Prices
b. Expenses
c. Revenue
d. Supply
Lelia LubowitzLv2
6 Feb 2020
Related questions
Question 1. (total profit variance, salesprice and sales quantity variance)
XYZ Company's budgeted and actual results for last year are asfollows:
| Master budget | Actual results | |
| Price | $500 | $600 |
| Sales volume (units) | 5,000 | 3,500 |
| Unit VC | $150 | $150 |
| Fixed costs | $350,000 | $350,000 |
Required:
(a) Compute budgeted and actual revenue, costs and profits:
| Master budget | Actual | |
| Sales volume (units) | ||
| Revenue | $ | $ |
| Variable costs | $ | $ |
| Contribution margin | $ | $ |
| Fixed costs | $ | $ |
| Profit | $ | $ |
In (b)-(d) below, enter favorable and unfavorable variances aspositive and negative numbers, without F or U.
(b) How much is the total profit variance?
(enter negative numbers with a minus, i.e. enter negative $100as -100 not ($100) ) $
(c) How much is the sales volume variance?
(enter negative numbers with a minus) $
(d) How much is the sales price variance?
(enter negative numbers with a minus) $
