Rockport Industries Inc. gathered the following data for March: Planned Actual Sales price per unit $150...
Rockport Industries Inc. gathered the following data for March:
| Planned | Actual | |
| Sales price per unit | $150 | $144 |
| Number of units of sales | × 12,500 | × 12,900 |
| Total sales | $1,875,000 | $1,857,600 |
Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
a. Compute the revenue price variance.
| $ |
b. Compute the revenue volume variance.
| $ |
c. Compute the total revenue variance.
| $ |
Homework Answers
| Ans. A | Revenue price variance = (Actual price - Planned price) * Actual quantity sold | |||
| ($144 - $150) * 12,900 | ||||
| -$6 * 12,900 | ||||
| -$77,400 | (or $77,400 unfavorable) | |||
| Ans. B | Revenue volume variance = (Actual units - Planned units) * Planned price | |||
| (12,900 - 12,500) * $150 | ||||
| 400 * $150 | ||||
| $60,000 | favorable | |||
| Ans. C | Total revenue variance = Actual sales - Planned sales | |||
| $1,857,600 - $1,875,000 | ||||
| -$17,400 | (or $17,400 unfavorable) | |||
| *If Actual sales price, volume and total sales are higher than planned then the variance becomes favorable. | ||||
| *If Actual sales price, volume and total sales are less than planned then the variance becomes unfavorable. | ||||
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Rockport Industries Inc. gathered the following data for
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