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During an average month, Space toys plans to sell 120 units of its only product with a budgeted contribution margin of $179 per unit. Actual sales were 125 units at a contribution of $175 per unit. Actual fixed cost of $22,500 was $500 over budget. Budgeted share was 10% of the market and the actual share was 12.5%. Determine the market size variance for the month. Enter favorable variances as a positive value and unfavorable variances as a negative number. Do not enter $ sign or commas.

During an average month, Space toys plans to sell 120 units of its only product with a budgeted contribution margin of $179 per unit. Actual sales were 125 units at a contribution of $175 per unit. Actual fixed cost of $22,500 was $500 over budget. Budgeted share was 10% of the market and the actual share was 12.5%. Determine the market size variance for the month. Enter favorable variances as a positive value and unfavorable variances as a negative number. Do not enter $ sign or commas.

FINANCIAL ACCOUNTING
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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During an average month, Space toys plans to sell 120 units of its only product with a budgeted contribution margin of $179 per unit. Actual sales were 125 units at a contribution of $175 per unit. Actual fixed cost of $22,500 was $500 over budget. Budgeted share was 10% of the market and the actual share was 12.5%. Determine the market size variance for the month. Enter favorable variances as a positive value and unfavorable variances as a negative number. Do not enter $ sign or commas.
Transcribed Image Text:During an average month, Space toys plans to sell 120 units of its only product with a budgeted contribution margin of $179 per unit. Actual sales were 125 units at a contribution of $175 per unit. Actual fixed cost of $22,500 was $500 over budget. Budgeted share was 10% of the market and the actual share was 12.5%. Determine the market size variance for the month. Enter favorable variances as a positive value and unfavorable variances as a negative number. Do not enter $ sign or commas.
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