Margot’s Ice Cream operates several stores in a majormetropolitan city and its suburbs. Its...

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Accounting

Margot’s Ice Cream operates several stores in a majormetropolitan city and its suburbs. Its budget and operating datafor the current year follow:
Flavor Budgeted Data Actual Operating Results
Gallons Selling Price per Gallon Variable Costs per Gallon Gallons Selling Price per Gallon Variable Costs per Gallon
Vanilla 360,000 $ 2.25 $ 1.55 300,000 $ 2.10 $ 1.45
Chocolate 450,000 3.50 2.60 420,000 3.35 2.50
Strawberry 300,000 2.80 1.70 430,000 3.00 1.75
Anchovy 90,000 4.50 3.00 210,000 5.00 3.20
Required:
1. Compute these variances for the individual flavors and totalquantity sold. (Do not round intermediatecalculations.)

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NoteSales variance is calculated in order understand the deviationsfrom the budgeted plans as against the actual resultsSales is commonly understood as revenue profit maximization isone of the goal of financial management as such every organisationchalks out a revenue plan in each financial year to attain minimumrate of return on See Answer

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In: AccountingMargot’s Ice Cream operates several stores in a majormetropolitan city and its suburbs. Its budget...Margot’s Ice Cream operates several stores in a majormetropolitan city and its suburbs. Its budget and operating datafor the current year follow:FlavorBudgeted DataActual Operating ResultsGallonsSelling Price per GallonVariable Costs per GallonGallonsSelling Price per GallonVariable Costs per GallonVanilla360,000$2.25$1.55300,000$2.10$1.45Chocolate450,0003.502.60420,0003.352.50Strawberry300,0002.801.70430,0003.001.75Anchovy90,0004.503.00210,0005.003.20Required:1. Compute these variances for the individual flavors and totalquantity sold. (Do not round intermediatecalculations.)

Flavor	Budgeted Data					Actual Operating Results
Flavor	Gallons	Selling Price per Gallon		Variable Costs per Gallon		Gallons		Selling Price per Gallon		Variable Costs per Gallon
Vanilla	360,000	$	2.25	$	1.55		300,000	$	2.10	$	1.45
Chocolate	450,000		3.50		2.60		420,000		3.35		2.50
Strawberry	300,000		2.80		1.70		430,000		3.00		1.75
Anchovy	90,000		4.50		3.00		210,000		5.00		3.20