a company analyzes its data and assesses that because of price increases in some products, customers shifted their product purchases to products that differed from what was originally forecasted. ultimately, the products that were purchased had lower margins. as a result, the company experienced lower end-of-the-year profitability. what type of analysis is this?

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21-11-2022
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a company analyzes its data and assesses that because of price increases in some products, customers shifted their product purchases to products that differed from what was originally forecasted. ultimately, the products that were purchased had lower margins. as a result, the company experienced lower end-of-the-year profitability. what type of analysis is this?

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tutorconsortium275 tutorconsortium275 · Answer 1 · 2022-11-24T18:46:02+01:00

It is product mix variance analysis. Variance is the difference between planned and actual amounts. Companies review sales mix variances to determine which products and product lines are performing well and which are not.

What is product mix and product variance?

A product mix is the totality of product lines and individual products or services offered by a company. Also known as product range or product portfolio. Product combinations vary by company. Some product lines have multiple product lines and each line has many products.
Variant products are similar products, based on the same model, but different from each other in some respects. Offer your customers a variety of purchasing options for your products. B. Different colors, sizes, dimensions, flavors, etc.

How do you find product mix variance?

1. Subtract budget unit volume from actual unit volume and multiply by standard contribution margin.

2. Do the same for each product sold.

3. Summarize this information to get variances in your organization's sales mix.

Learn more about product mix visit:

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