Complete the budget vs. actual report below using the data provided Circle Favor

Question

Complete the budget vs. actual report below using the data provided Circle Favorable or Unfavorable ACTUAL PLAN Difference $ $ Fav. Unfav. | A Sales Less: Variable Cost of Goods Sold Variable Selling & Admin Exp. Total Variable Costs Contribution Margin A| | na a A Fav. Fav. Fav. Fav. Unfav. Unfav. Unfav. Unfav. A| | 6 Number of Units Sold 400 410 S210 $200 A Per Unit: Sales Price Variable Cost of Goods Sold Variable Selling & Admin Exp. A 70 27 25 A Variance Analysis: Calculate the following variances. Show all work: Amount w a) Sales - Quantity Variance b) Sales - Price Variance Net Difference Circle Favorable or Unfavorable Fav. Unfav. Fav. Unfav. Fav. Unfav. w w a c) Cost of Goods Sold - Quantity Variance d) Cost of Goods Sold - Cost (price) Variance Net Difference s Fav. Fav. Fav. Unfav. Unfav. Unfav. w w e) Variable Selling & Admin - Quantity Variance f) Variable Selling & Admin - Cost (price) Variance Net Difference Fav. Fav. Fav. Unfav. Unfav. Unfav. a

Explanation / Answer

Variance Analysis:

ACTUAL PLAN Difference Fav./Unfav. Sales $       84,000 $       82,000 $        2,000 Fav. Less: Variable cost of goods sold $       28,000 $       30,750 $        2,750 Fav. Variable selling & admin. Exp. $       10,800 $       10,250 $           550 Unfav. Total variable costs $       38,800 $       41,000 $        2,200 Fav. Contribution margin $       45,200 $       41,000 $        4,200 Fav. Number of units sold 400 410 -10 Per unit: Sales price $210 $200 $10 Variable cost of goods sold $70 $75 $5 Variable selling & admin. Exp. $27 $25 $-2

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