Columbia Coffee Inc.sells two types of coffee,Regular and Decaf.The monthly budget for Canadian coffee sales is based on a combination of last year's performance,a forecast of industry sales,and the company's expected share of the Canadian market.The following information is provided for March:
Budgeted fixed costs are $58,000.Actual fixed costs are $62,000.
Required:
Calculate the static-budget,flexible-budget and sales-volume variances for the contribution margin,for the company for March.
Definitions:
Constructive Receipt
This refers to the point at which an individual has access to, or control over, income, thus making it taxable, even if the income has not been physically received.
Compensation
Payment or salary received for services rendered or work done.
Exempt From Income
Income that is not subject to taxation under federal or state law.
Workers' Compensation Payments
Benefits provided to employees suffering from work-related injuries or illnesses, covering medical expenses and lost wages.
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