Question
In: Accounting
Complete the table using the figures provided for the three products: A, B and C. Last...
Complete the table using the figures provided for the three products: A, B and C.
Last month’s budget for sales
|
Product |
Cost price |
Sale price |
Budget sales last month |
Total costs on sales |
Budget profit last month |
Profit % per item on sale price |
||
|---|---|---|---|---|---|---|---|---|
|
# |
$ |
per item |
on sales |
|||||
|
A |
$7.50 |
$12.00 |
500 |
$6,000 |
$3,750 |
$4.50 |
$2,250 |
38% |
|
B |
$9.25 |
$17.00 |
400 |
$6,800 |
$3,700 |
$7.75 |
$3,100 |
46% |
|
C |
$10.00 |
$30.00 |
300 |
$9,000 |
$3,000 |
$20.00 |
$6,000 |
67% |
|
Total |
1,200 |
$21,800 |
$10,450 |
$11,350 |
||||
Last month’s sales (actuals)
|
Product |
Cost price |
Sale price |
Total sales last month |
Total costs on sales |
Gross profit last month |
Profit % per item on sale price |
||
|---|---|---|---|---|---|---|---|---|
|
# |
$ |
per item |
on sales |
|||||
|
A |
$7.50 |
$12.00 |
650 |
$7,800 |
$4,875 |
$4.50 |
$2,925 |
38% |
|
B |
$9.25 |
$17.00 |
500 |
$8,500 |
$4,625 |
$7.75 |
$3,875 |
46% |
|
C |
$10.00 |
$30.00 |
200 |
$6,000 |
$2,000 |
$20.00 |
$4,000 |
67% |
|
Total |
1,350 |
$22,300 |
$11,500 |
$10,800 |
||||
|
Product |
Gross profit budget ($) |
Gross profit actual ($) |
Variance ($) |
|---|---|---|---|
|
A |
|||
|
B |
|||
|
C |
|||
|
Total |
Solutions
Expert Solution
| Product | Gross profit budget ($) | Gross profit actual ($) | Variance ($) |
| A | $ 2,250.00 | $ 2,925.00 | $ 675.00 |
| B | $ 3,100.00 | $ 3,875.00 | $ 775.00 |
| C | $ 6,000.00 | $ 4,000.00 | $ (2,000.00) |
| Total | $ 11,350.00 | $ 10,800.00 | $ (550.00) |
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