Please help me and show all calculations. Wheat Incorporated has an exclusive contract with an exporter. Two brands of wheat are imported, labeled AB and CD. The following dataprovided for the current fiscal year:BudgetedActual ResultsABCDABCD$ 55$ 50$ 20$ 15$ 60$ 50$ 6Price per bushelVariable cost per bushelSales (in bushels)$ 22,2003,2001,9004,300The total market was estimated to 54,000 bushels at the time of budget. The actual total market for the year is 31,000 bushels.What is the firm's market share variance?

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The total market was estimated to 54,000 bushels at the time of budget. The actual total market for the year is 31,000 bushels. What is the firm's market share variance?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Gourmet Aroma Coffee House has an exclusive contract with Columbia exporters. Two brands of gourmet coffee are imported, Morning Thunder (MT) and Evening Tender (ET). The following data are provided for the current fiscal year: Budgeted Operating Results MT ET MT ET Price per pound $ 40 $ 60 $ 50 $ 56 Variable cost per pound 20 36 24 40 Sales (in pounds) 4,300 4,300 4,026 5,124 The total market was estimated to be 86,000 pounds at the time of budget. The actual total market for the year is 84,000 pounds. What is the firm's total sales mix variance? Multiple Choice $2,196 favorable. $6,916 favorable. $10,956 favorable. $2,556 unfavorable. $996 unfavorable.
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