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Exercise 21-26 (Algo) Computing sales variances LO A1 Mia Wiz sells computers. During May, it...

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Accounting

Exercise 21-26 (Algo) Computing sales variances LO A1

Mia Wiz sells computers. During May, it sold 600 computers at a $700 per unit price. The fixed budget for May predicted sales of 650 computers at an per unit price of $670.

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. Identify it as favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)

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