Variance amount-variance percentage

Assignment Help Accounting Basics

Reference no: EM13257591

Please show your calculations for each of the following problems, ten points will be awarded for each correct answer.

1. Memphis Corporation has a sales budget of $500,000.00for the year ended 12/31/05.

The actual sales for theyear were $450,000.00.

A) What is the variance amount?

B) What is the variance percentage?

C) Is the variance favorable orunfavorable?

Reference no: EM13257591

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