1. Manley Company planned to sell 140,000 units this year at $6.00 per unit. Actual results indicate that 142,000 units were sold at $6.25 per unit. What are the sales price and sales quantity variances?
2. Peterson, Inc., sold 260,000 units last year, which was 20 percent less than expected. Its average selling price was $6 per unit, which was 20 percent higher than planned.
What are the sales price and sales quantity variances?
The Rodgers Company reported $284,700 of cash received from customers on its statement of cash flows for the year ended September 30, 2010. However, the income statement for the same time period reported net sales totaling $231,400.
Explain why these two numbers are not equal.
The statement of cash flows for Steinhoff Corporation for the year ended June 30, 2010, reported cash received from customers of $5,680,000. Steinhoff’s comparative balance sheets for June 30, 2009, and 2010, reported net accounts receivable balances of $690,000 and $765,000, respectively.
Determine the net sales reported by Steinhoff for the year ended June 30, 2010.
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