Reference no: EM13817597
Problem: Revenue Variances - New Look Jacket Inc.
New Look Jacket Inc. produces and sells two lines of jackets: nylon and leather. The market for nylon jackets is large and competitive, but the leather jacket market has traditionally been small with only a fewcompeting manufacturers.The operating budget for NLJ for the year 20x7 was as follows:
Nylon Leather Jackets Jackets Total
Sales volume 95,000 5,000 100,000Sales revenue $3,325,000 $750,000 $4,075,000Total variable costs 2,161,250 517,500 2,678,750Contribution margin $1,163,750 $232,500 $1,396,250The actual results for the year 20x7 are as follows:
Nylon Leather Jackets Jackets Total
Sales volume 93,500 16,500 110,000Sales revenue $3,366,000 $2,442,000 $5,808,000Total variable costs 2,127,125 1,707,750 3,834,875Contribution margin $1,238,875 $ 734,250 $1,973,125Additional information is as follows:
Nylon Jackets Leather Jackets
Market size (units):20x7 budget 475,000 12,50020x7 actual 425,000 125,000
Required: Calculate all relevant revenue variances and comment on the performance of the marketing department.
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