Johnston Company (JC) sells two types of bicycles with details as follows for 2019:PlanExpected total industry unit salesBudgeted JC unit salesBudgeted selling price per unitBudgeted variable costs per unitActualsActual total industry unit salesActual JC unit salesActual selling price per unitActual variable cost per unitRequired:MountainRoad96,000170,0008,40034,000$ 1,200 $ 1,600$968 $1,258200,000120,00012,000 36,000$ 1,240 $ 1,5751,000 $ 1,275$1. Calculate the budgeted contribution margin for each model.Budgeted Contribution MarginMountainRoadSelling price$1,200 $1,600Variable costs9681,258Budgeted contribution margin per unit$232 $3422. Calculate the following variances:a.Sales Price Variance$420,000 Ub.Market Volume VarianceFC.Market Share VarianceUd.Sales Mix Variancee.Sales Quantity Variance

1. To calculate the budgeted contribution margin for each model, you subtract the variable costs…

Answered: Johnston Company (JC) sells two types…

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 2.3C

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