50.1K

Verified Solution

Link Copied!

Required: a. Compute the flexible budget and sales activity variance and prepare a profit variance analysis. (Hint Use last quarter as the master budget and this quarter as "actual") b. What impact did the changes in number of detailings and average revenues (i.e. sales price) have on Classics, Ltdis contribution margin? Complete this question by entering your answers in the tabs below. Compute the flexible budget and sales activity variance and prepare a profit variance analysis. (Hint: Use last quarter as the master budget and this quarter as "actual.") (Do not round intermediate calculations. Indicate the effect of each variance by selecting " F " for favorable, or " U " for unfavorable. If there is no effect, do not select either option. Enter your answers rounded to the nearest whole number.) Classics, Lt., detals cars. Ciassics wants to compare this quarter's results with those for last quarter, which is believed to be bypical for operations. Assume that the following information is provided. Required: a. Compute the flexble budget and sales activity variance and prepare a profit variance analysis. (Hint Use last quarter as the master budget and this quarter as "ectual." b. What impoct did the changes in number of detalings and average revenues f.e. sales price) have on Classics, Ltdis contribution margin? Complete this question by entering your answers in the tabs below. What impact did the changes in number of detailings and average revenues ( 1 .e. 4. sales price) have on Classics, Ltd.'s contribution margin? (Do not round intermediate calculationo.)

Answer & Explanation Solved by verified expert

See Answer