Mattie’s Vineyards is a producer and wholesaler of three varieties of white wine. Sales data for November are given below: Sauvignon Blanc Chardonnay Riesling Budgeted selling price $ 7.70 $ 8.60 $ 7.10 Budgeted variable cost $ 5.70 $ 6.35 $ 5.10 Budgeted selling quantity 14,600 units 5,475 units 16,425 units Actual selling price $ 7.95 $ 8.45 $ 7.45 Actual variable cost $ 5.80 $ 6.45 $ 5.45 Actual selling quantity 10,240 units 7,680 units 14,080 units Required: Compute the sales price variance for Sauvignon Blanc wine. Compute the sales price variance for Chardonnay wine. Compute the sales price variance for Riesling wine. Compute the mix variance for Mattie's Vineyards for the year. Compute the quanitity variance for Mattie's Vineyards for the year. Compute the activity variance for Mattie's Vineyards for the year
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Mattie’s Vineyards is a producer and wholesaler of three varieties of white wine. Sales data for November are given below:
| Sauvignon Blanc | Chardonnay | Riesling | |
| Budgeted selling price | $ 7.70 | $ 8.60 | $ 7.10 |
| Budgeted variable cost | $ 5.70 | $ 6.35 | $ 5.10 |
| Budgeted selling quantity | 14,600 units | 5,475 units | 16,425 units |
| Actual selling price | $ 7.95 | $ 8.45 | $ 7.45 |
| Actual variable cost | $ 5.80 | $ 6.45 | $ 5.45 |
| Actual selling quantity | 10,240 units | 7,680 units | 14,080 units |
Required:
- Compute the sales price variance for Sauvignon Blanc wine.
- Compute the sales price variance for Chardonnay wine.
- Compute the sales price variance for Riesling wine.
- Compute the mix variance for Mattie's Vineyards for the year.
- Compute the quanitity variance for Mattie's Vineyards for the year.
- Compute the activity variance for Mattie's Vineyards for the year.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
