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Santa Toy Shop produces toys. During November, the following information was gathered: Dart Board Lego Sets Dolls Breyer Horses Golf Sets Stuffed...

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Question

Accounting

Santa Toy Shop produces toys. During November, the followinginformation was gathered:

Dart Board

Lego Sets

Dolls

Breyer Horses

Golf Sets

Stuffed Toys

Budgeted units sold

175

500

400

125

600

300

Actual units sold

200

400

250

140

500

350

Budgeted selling price

$5

$30

$11

$40

$80

$18

Actual selling price

$8

$25

$12

$45

$75

$28

Budgeted variable cost

$2

$18

$5

$20

$35

$10

Actual variable cost

$3

$15

$4

$25

$30

$11

Actual market size was 20,000, whereas budgeted market share was16%.

REQUIRED:

  1. Compute the total, sales price, variable cost, flexible-budget,sales-volume, sales-mix, sales-quantity, market-share, andmarket-size variances. Be sure to indicate whether each isfavorable or unfavorable!
  2. Calculate numbers to three to four decimal points!

Answer & Explanation Solved by verified expert
4.0 Ratings (793 Votes)
TOTAL SALES PRICE VARIANCE Dart board Lego sets Dolls Breyer Horses Golf sets Stuffed toys Total A Actual Selling Price 8 25 12 45 75 28 B Budgeted Selling price 5 30 11 40 80 18 C Actual units sold 200 400 250 140 500 350 Sales price variance 600 2000 250 700 2500 3500 550 A BC Favorable Unfavorable Favorable Favorable Unfavorable Favorable Favorable TOTAL VARIABLE COST VARIANCE Dart board Lego sets Dolls Breyer Horses Golf sets Stuffed toys Total A Budgeted Units sold 175 500 400 125 600    See Answer
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