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Compute the sales price variance for all three wines

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Reference no: EM133096941

Question - Lake Cellars produces and sells white wine. The following data concern the three varietals of white wine the company currently offers. Sales data for August are given as follows.

 

Sauvignon Blanc

Chardonnay

Riesling

Total

Budgeted selling price

$9.00

$10.00

$7.00

 

Budgeted variable cost

$6.00

$7.50

$5.00

 

Budgeted selling quantity

20,000

8,000

12,000

40,000

Actual selling price

$9.25

$9.80

$7.10

 

Actual variable cost

$6.15

$7.60

$4.90

 

Actual selling quantity

22,000

8,500

11,500

42,000

Required -

a. Compute the sales price variance for all three wines.

b. Compute the activity variance for Lake Cellars for August.

c. Compute the mix and quantity variances for Lake Cellars for August.

Reference no: EM133096941

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