Reference no: EM132712118

Vision Inc. wants to analyze its variances in its actual and budgeted operation. Provide the required information below using the following data.

1. It is noted that there is no difference between the actual gross profit and budgeted gross profit.
2. Budgeted Sales is at P6,500 while actual sales is P1,500 greater than the budgeted sales 
3. Budgeted Cost of Goods Sold is at P4,500 while actual Cost of Goods Sold is P1,500 greater than the budgeted Cost of Goods Sold. 
4. Actual Units sold at budgeted sales price is 6,000 
5. Actual Units sold at budgeted cost price is 4,500

Question 1: What is the sale price variance?

Question 2: What is the sale price variance, under 3 way?

Question 3: Determine the Cost price variance, under 4 way?

Question 4: Determine the Cost price variance, under 3 way?

Question 5: Determine the Volume Variance

Question 6: What is the sales volume variance, under 4 way?

Question 7: Determine the Cost price volume variance?

Question 8: Determine the Gross Profit Variance

1. Percentage change in Selling Price
2. Percentage change in Cost Price