The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Determine the price-volume variance ($)
Q: Choice $48 $52 $44 $50
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- The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50.
- The actual sales were 3,200 meals and food revenue of $18,400.
- Determine the price-volume variance ($)
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I need help determining the price volume variance
by Bartleby Expert- Saginaw Company is a garden products wholesale firm. In December, Saginaw Company expects to sell 30,000 bags of vegetable fertilizer at an average price of 5.30 per bag. Actual results are 30,600 bags sold at an average price of 5.20 per bag. Required: 1. Calculate the sales price variance for December. 2. Calculate the sales volume variance for December. 3. Calculate the overall sales variance for December. Explain why it is favorable or unfavorable. 4. What if December sales were actually 29,800 bags? How would that affect the sales price variance? The sales volume variance? The overall sales variance?Rosenberry Company computed the following revenue variances for January: Revenue price variance (350,000) Favorable Revenue volume variance50,000 Unfavorable Assuming that the planned selling price per unit was 10 and that actual sales were 175,000 units, determine the following: a. Actual selling price of January. b. Planned number of units that were to be sold in January.Determine the projected food sales by meal period for June 20X2. Assume that the first day of the month is a Sunday. Problem 6 Horner's Corner projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Required: boc 1. Determine the budget variance. 2. Determine the volume variance. 3. Determine the price variance.
- 8. Determine the price variance ($). Note: The Answer field only accepts numbers. Thus, do not include $ or commas when you type your answer. Type your answer as a whole number. Assume that your hotel has a restaurant. The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Use the information above and the table below to solve the questions. Meals (# of units) Price/unit Total Revenue Budget 3,000 $5.5 ? Actual 3,200 ? $18,4009. Determine the price-volume variance ($). Note: The Answer field only accepts numbers. Thus, do not include $ or commas when you type your answer. Type your answer as a whole number. Assume that your hotel has a restaurant. The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Use the information above and the table below to solve the questions. Meals (# of units) Price/unit Total Revenue Budget 3,000 $5.5 ? Actual 3,200 ? $18,4007. Determine the volume variance ($). Note: The Answer field only accepts numbers. Thus, do not include $ or commas when you type your answer. Type your answer as a whole number. Assume that your hotel has a restaurant. The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Use the information above and the table below to solve the questions. Meals (# of units) Price/unit Total Revenue Budget 3,000 $5.5 ? Actual 3,200 ? $18,400
- 6. Determine the budget variance (i.e., total revenue variance) ($). Assume that your hotel has a restaurant. The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Use the information above and the table below to solve the questions. Meals (# of units) Price/unit Total Revenue Budget 3,000 $5.5 ? Actual 3,200 ? $18,400Holland Company is a garden products wholesale firm. In December, Holland Company expects to sell 84,000 bags of vegetable fertilizer at an average price of $8.75 per bag. Actual results are 85,000 bags sold at an average price of $8.50 per bag. REQUIRED: 1. Calculate the sales price variance for December. 2. Calculate the sales volume variance for December. 3. Calculate the overall sales variance for December. Explain why it is favorable or unfavorable. What if December sales were actually 83,500 bags? How would that affect the sales price variance? The sales volume variance? The overall sales variance?Horner's Corner projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. 1. Determine the budget variance. HINT: Budget variance = actual sales $ - budgeted sales $ (budgeted lunches x price per meal = budgeted sales $) 2. Determine the volume variance. HINT: Volume variance = difference in meals x budgeted price 3. Determine the price variance. HINT: Price variance = difference in price x budgeted meals (actual price per meal = actual revenue/actual meals sold) %3D
- Munoz Educational Services had budgeted its training service charge at $69 per hour. The company planned to provide 31,000 hours of training services during the year. By lowering the service charge to $63 per hour, the company was able to increase the actual number of hours to 32,800. Required a. Determine the sales volume variance, and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) b. Determine the flexible budget variance, and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) c. Did lowering the price of training services increase revenue? Variance a. Volume variance b. Flexible budget variance c. Was the decision profitable? MacBook AirComp Wiz sells computers. During May, it sold 300 computers at a $800 average price each. The May fixed budget included sales of 350 computers at an average price of $770 each. AQ = Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price 1&2. Compute the sales price variance and the sales volume variance for May. Classify it as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Flexible Budget Actual Sales Budgeted Sales AQ АP AQ SP SQ SP X X Y 0 0 0Jordan Educational Services had budgeted its training service charge at $71 per hour. The company planned to provide 31,000 hours of training services during the year. By lowering the service charge to $55 per hour, the company was able to increase the actual number of hours to 32,000. Required a. Determine the sales volume variance, and indicate whether it is favorable or unfavorable. Note: Select "None" if there is no effect (i.e., zero variance). b. Determine the flexible budget variance, and indicate whether it is favorable or unfavorable. Note: Select "None" if there is no effect (i.e., zero variance). c. Did lowering the price of training services increase revenue? a. Volume variance b. Flexible budget variance c. Did lowering the price of training services increase revenue? Sales
