Asked by Chelsea Garcia-Perez on May 10, 2024
Verified
Subtracting actual revenues from planned revenues provides the revenue price variance.
Revenue Price Variance
The difference between the planned and actual unit sales price multiplied by the actual units sold.
Actual Revenues
The real amount of money received by a company from its business activities, without adjustments or estimations, in a specific period.
Planned Revenues
Forecasted income that a business expects to receive from its operations or activities within a specific period.
- Realize the determination and interpretation of variances, both favorable and unfavorable.
Verified Answer
Learning Objectives
- Realize the determination and interpretation of variances, both favorable and unfavorable.
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