Response to the following problem:
Mattie's Vineyards is a producer and wholesaler of three varieties of white wine. Sales data for November are given below:
| |
Sauvignon
Blanc
|
Chardonnay
|
Riesling
|
Total
|
|
Budgeted selling price
|
$
|
8.05
|
$
|
8.50
|
$
|
7.50
|
|
|
Budgeted variable cost
|
$
|
5.90
|
$
|
6.50
|
$
|
5.50
|
|
|
Budgeted selling quantity
|
|
13,200
|
|
4,950
|
|
14,850
|
33,000
|
|
Actual selling price
|
$
|
7.80
|
$
|
8.65
|
$
|
7.15
|
|
|
Actual variable cost
|
$
|
5.80
|
$
|
6.40
|
$
|
5.15
|
|
|
Actual selling quantity
|
|
12,160
|
|
9,120
|
|
16,720
|
38,000
|
Compute the mix and quantity variances for Mattie's Vineyards for the year. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Do not round your intermediate calculations. Round your answers to 2 decimal places.)
Mix variance
Quantity variance .