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Question - Show all of your work including computations.
A company manufactures two modular types of chairs: one for the residential market, and the other for the office market. Budgeted and actual operating data for the year 2020 are:
Static Budget
Residential
Office
Total
Number of chairs sold
520,000
280,000
800,000
Contribution margin
$52,000,000
$22,400,000
$74,400,000
Contribution margin/unit
$100
$80
Actual Results
496,800
331,200
828,000
$44,712,000
$26,496,000
$71,208,000
$90
Required - Compute the following variances in terms of contribution margin:
a. Compute the sales-mix variance and the sales-quantity variance by type of chair, and it total for both types of chairs combined.
b. Compute the total sales-volume variance.
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