Reference no: EM132562691

Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year follow:

Flavor                                  Budgeted Data                                                                  Actual Operating Results

                                           Gallons      Selling Price      Variable Costs                         Gallons         Selling Price            Variable Costs

Vanilla                                306,000   $ 1.80                 $ 1.10                            246,000            $ 1.65                  $ 1.00

Chocolate                               382,500   2.60                 1.70                                 352,500            2.45                  1.60

Strawberry                             255,000     2.35                 1.25                                385,000            2.55                     1.30

Anchovy                                76,500        3.60                   2.10                                 196,500          4.10                  2.30

Question 1. Compute these variances for the individual flavors and total quantity sold. (Use the Contribution Margin in your calculations and do not round intermediate calculations.)

Flavor Sales Volume Variance Sales Mix Variance Sales Quantity Variance

Vanilla

Chocolate

Strawberry

Anchovy

Total