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Question - The Durham Corporation produces oil-based paint, water-based paint, and latex-based paint. The following is the budget and actual data for the most recent year:
Budget
Actual
Sales of oil-based paint in cans
100,000
95,000
Sales of water-based paint in cans
80,000
82,000
Sales of latex-based paint in cans
90,000
Selling price per can of oil-based paint
$30
$32
Selling price per can of water-based paint
$25
$22
Selling price per can of latex-based paint
$28
Variable expense per can of oil-based paint
$21
$23
Variable expense per can of water-based paint
$15
$14
Variable expense per can of latex-based paint
$24
Market volume of oil-based paint in cans
420,000
480,000
Market volume of water-based paint in cans
350,000
Market volume of latex-based paint in cans
460,000
Required -
1. Calculate the sales-price variance for latex-based paint.
2. Calculate the sales-volume variance for latex-based paint.
3. Calculate the sales-quantity variance for oil-based paint.
4. Calculate the sales-mix variance for water-based paint.
5. Calculate the market-volume variance for oil-based paint.
6. Calculate the market-share variance for water-based paint.
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