Marigold Sports sells volleyball kits that it purchases from a sports equipment distributor. The following...
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Accounting
Marigold Sports sells volleyball kits that it purchases from a sports equipment distributor. The following static budget based on sales of 2,500 kits was prepared for the year. Fixed operating expenses account for 74% of total operating expenses at this level of sales. Sales Cost of goods sold (all variable) Gross margin Operating expenses Operating income $ 475,000 83,200 391,800 32,550 $ 359,250 Assume that during the year Marigold Sports actually sold 2,700 volleyball kits during the year at a price of $193 per kit. Calculate the sales price variance. If varlance is zero, select 'Not Applicable and enter for the amounts.) Sales price variance Favorable
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