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Compute sales volume variance and sales price variance

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Reference no: EM132056508

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Q1. Many of your customers buy on credit (i.e., part of sales revenue is collected several months after the sale).

On average, you collect 60% of revenue in the month of sale, 35% of revenue in the following month, and 5% of revenue 2 months later.

What are your cash inflows in May?

Month Sales

March $150

April $100

May $ 130

Q2. Jays store budgeted sales are as follows

Jan $150,000

Feb $160,000

Mar $172,000

The company expects to collect 75% of a month's sales in the month of sale and 25% in the following month.

What are the cash receipts for February?

Q3. Budgeted sales price is $10, actual is $12.

Budgeted sales volume is 2,500 units, actual is 2,400 units.

Budgeted unit VC is $5, actual is $6.

Compute sales volume variance and sales price variance?

Reference no: EM132056508

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