Question
A company budgeted to sell 6,000 units at a standard
selling price of ₹25 per unit. During the period, it actually sold 5,500 units at ₹27 per unit. What is the Sales Price Variance?Solution
Sales Price Variance = (Actual Price - Standard Price) × Actual Quantity = (₹27 - ₹25) × 5,500 = ₹2 × 5,500 = ₹11,000. Since the actual price is higher, the variance is favorable.
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