Sales Mix VarianceIoannis Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted Amounts: ToasterOven ConvectionOven Total Sales: ($1,000 × 25,000) $25,000,000 ($500 × 15,000) $7,500,000 $32,500,000 Variable expenses 6,250,000 1,500,000 7,750,000 Contribution margin $18,750,000 $6,000,000 $24,750,000 Actual Amounts: ToasterOven ConvectionOven Total Sales: ($1,000 × 25,500) $25,500,000 ($500 × 13,500) $6,750,000 $32,250,000 Variable expenses 6,375,000 1,350,000 7,725,000 Contribution margin $19,125,000 $5,400,000 $24,525,000 1. Calculate the sales mix variance

Sales Mix Variance Ioannis Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted...

Sales Mix Variance

Ioannis Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below.

Budgeted Amounts:

	Toaster Oven	Convection Oven	Total
Sales:
($1,000 × 25,000)	$25,000,000
($500 × 15,000)		$7,500,000	$32,500,000
Variable expenses	6,250,000	1,500,000	7,750,000
Contribution margin	$18,750,000	$6,000,000	$24,750,000

Actual Amounts:

	Toaster Oven	Convection Oven	Total
Sales:
($1,000 × 25,500)	$25,500,000
($500 × 13,500)		$6,750,000	$32,250,000
Variable expenses	6,375,000	1,350,000	7,725,000
Contribution margin	$19,125,000	$5,400,000	$24,525,000

1. Calculate the sales mix variance

Jun 11, 2022

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Sales Mix Variance Ioannis Inc., produces and sells two types of countertop ovens—the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted...

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