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Provide the market share variance

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Question - Your company is part of a large industry. The industry had sales volume of 238.7 million units last quarter. When setting the budget, you had anticipated industry volume of 236.7 million and market share of 0.26%. Your actual sales volume was 510584 units.

In addition, the following budget and actual amounts apply to the quarter for your business (all in $million).

 

Budget

Actual

Revenue

2.47

2.66

Variable cost

1.12

1.22

Fixed cost

1.00

1.05

Required -

1. Provide the market share variance (absolute value, whole number of dollars, not in millions).

2. Now provide the industry volume variance (absolute value, whole number, not in millions of $).

Reference no: EM132848663

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