The following Income Statement Data presented by AAA Company for the years ended December 31, 2020 and 2021: 2020 2021 600,000 360,000 240,000 699,600 380,160 319.440 Net Sales Cost of Sales Gross Margin Additional Data: During 2021, the following transpired that affected Net Sales, Cost of Sales, which contributed in the changes in Gross Margin: Units Sold in 2021 was 10% higher than 2020 Units Selling Price in 2021 was 6% higher than 2020 Unit Cost in 2021 was 4% lower than 2020 Analyze if Favorable or Unfavorable. A.) Sales Price Variance = 396,000 F B.) Sales Volume Variance= 60,000 F C.) Sales Variance = 996,000 F D.) Cost Price Variance E.) Cost Volume Variance F.) Total Gross Profit Variance G.) Price Variance H.) Price-Quantity Variance L.) Cost Variance J.) Cost-Quantity Variance

The following Income Statement Data presented by AAA Company for the years ended December 31, 2020 and 2021: 2020 2021 600,000 360,000 240,000 699,600 380,160 319.440 Net Sales Cost of Sales Gross Margin Additional Data: During 2021, the following transpired that affected Net Sales, Cost of Sales, which contributed in the changes in Gross Margin: Units Sold in 2021 was 10% higher than 2020 Units Selling Price in 2021 was 6% higher than 2020 Unit Cost in 2021 was 4% lower than 2020 Analyze if Favorable or Unfavorable. A.) Sales Price Variance = 396,000 F B.) Sales Volume Variance= 60,000 F C.) Sales Variance = 996,000 F D.) Cost Price Variance E.) Cost Volume Variance F.) Total Gross Profit Variance G.) Price Variance H.) Price-Quantity Variance L.) Cost Variance J.) Cost-Quantity Variance

Name: G.) Price VarianceH.) Price-Quantity VarianceI.) Cost VarianceJ.) Cost
Uploaded: 2024-03-20T06:33:06.000Z
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Description: G.) Price VarianceH.) Price-Quantity VarianceI.) Cost VarianceJ.) Cost-Quantity Variance The following Income Statement Data presented by AAA Company for the years endedDecember 31, 2020 and 2021:20202021699,600600,000360,000240,000Net Sales380,16031

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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