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SALES MIX VARIANCE= standard sales-revised std sales
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What is the meaning of analysis of covariance?
A mix of linear regression and analysis of variance. analysis of covariance is responsible for intergroup variance when analysis of variance is performed.
What is the quantitative statement?
Quantitative means having numbers and measurements. qualitatitive does not. Qualitative Example: mix hydrogen and oxygen and you get water. Quantitative Example: mix two moles of Hydrogen and one mole of Oxygen to get one mole of water.
What is a random mix of letters?
cwnbefcoenfcwa
What is the probability that a randomly selected car is a two door hybrid?
The answer depends on where in the world the random selection is taken since the location will determine the mix of cars that the selection is made from.
What is shown on a y-axis on a figure?
If there is one independent variable, and one or more dependent variables, then they would be plotted on the y-axis. If there are a mix of discrete and continuous variables, then the continuous variables should be plotted on the y-axis. In general, though, any variable can be plotted on the y-axis.
What is the meaning of analysis of covariance?
A mix of linear regression and analysis of variance. analysis of covariance is responsible for intergroup variance when analysis of variance is performed.
How do you calculate the sales mix percentage?
The sales mix percentage is calculated by dividing the sales for each product in the mix by the total sales for all products. Further calculations can be figured out from the sales mix percentage.
How do you calculate Mix Variances?
This is a method of variance analysis which reports mix variancesbetween products. For example, take the following information:Volume: Rate:Product Actual Budget Actual BudgetA 700 400 3 4B 100 300 2 1C 300 300 1 2Total 1100 1000 2.36 2.50The Answer:BudgetActualProfit RateBudget ProfitBudget MixActual MixVolumeMixTotalA (Budget)4000416000.400.00-940-660-1600A (Actual)0700300.000.6417503502100B (Budget)300013000.300.00-795495-300B (Actual)0100200.000.09250-50200C (Budget)300026000.300.00-765165-600C (Actual)0300100.000.27750-450300Total100011002.5025001.001.00250-150100　The Answer Explanation:BPRDiff = (Budgeted Product Profit Rate - Budgeted Group Profit Rate)MixVar = (Actual Product Sales Mix - Budgeted Product Sales Mix)The effect on mix variance of the group is a direct function of total actual sales for the group (TotActGrpSls). Given these component parameters, we can measure the impact of any given product's mix variance on the group (Mix Variance = MV) as follows:MV = (TotActGrpSls x MixVar x BPRDiff)The only other component of the product's profit variance is volume variance (VV). Order of calculation is important; MV must be calculated before VV. VV is a simple residual calculation:VV = [(TotActPrdSls - TotBudPrdSls) x Budgeted Product Profit Rate] - MVFor Product A (Budget) :BPRDiff = 4 - 2.50BPRDiff = 1.50MixVar = 0.00 - 0.40MixVar = -0.40MV = 1100 x -0.40 x 1.50MV = -660VV = ((0 - 400) x 4) - (-660)VV = -940Note: The above calculations apply equally to both unit profitability (shown) or dollar profitability.
What are the Key factors of sales mix?
Mixed of sales
What does the concept of promotion mix refer to?
The concept of "promotion mix" refers to using a combination of different promotional techniques on one product line. For example, a mix of print advertising, broadcast advertising, direct marketing, personal sales and merchandise displays.
Describe the sales mix when establishing food and beverage costs?
all actual sales & cost stranded & the sales %
What is a Marketing Communications Mix?
A marketing communications mix is the same as a promotion mix and is just another term for promotion mix. There are five marketing communications to put into the mix: Advertising, Sales Promotion, Public Relations, Personal Selling, and Direct Marketing. This basically all boils down to a mix of promotional efforts to bring in sales and increase brand equity.
What is the promotional mix?
THE PROMOTIONAL MIX:Consists of the following components:Advertising Examples: Media, Tv, Press and shopping bagsPersonal Selling Examples: the sales forces from both the suppler and retailerSales Promotion Example: Samples and retail store windowsPublicity Examples; unsolicited publicityDirect Marketing (A newer addition) Example: Sales direct from producers to consumers
What element of the marketing mix would include advertising and sales?
Promotion
What is the roles of sales promotion in the promotion mix?
Remind, persuade, and inform.
What are the components of the promotional mix?
The main components of the promotional mix are advertising, personal selling, public relations, and sales promotion.
If selling prices sales mix and cost structure remain the same do profits and sales increase using variable costing?
Equal
