Exercise 17-29 (Algo) Industry Volume and Market Share Variances (LO 17-3) Gerisch Consolidated sold 21,620 units of its only product last period. It had budgeted sales of 24,770 units based on an expected market share of 25 percent. The sales activity variance for the period is $466,200 U. The industry volume variance was $261,960 U. Required: a. What is the budgeted contribution margin per unit for the product? b. What is the actual industry volume? c. What was the actual market share for Gerisch? Note: Round your answer to 1 decimal place (i.e. .123 as 12.3). d. What is the market share variance? Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. a. Contribution margin b. Actual industry volume c. Actual market share d. Market share variance per unit units %

Exercise 17-29 (Algo) Industry Volume and Market Share Variances (LO 17-3) Gerisch Consolidated sold 21,620 units of its only product last period. It had budgeted sales of 24,770 units based on an expected market share of 25 percent. The sales activity variance for the period is $466,200 U. The industry volume variance was $261,960 U. Required: a. What is the budgeted contribution margin per unit for the product? b. What is the actual industry volume? c. What was the actual market share for Gerisch? Note: Round your answer to 1 decimal place (i.e. .123 as 12.3). d. What is the market share variance? Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. a. Contribution margin b. Actual industry volume c. Actual market share d. Market share variance per unit units %

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Description: Exercise 17-29 (Algo) Industry Volume and Market Share Variances (LO 17-3)Gerisch Consolidated sold 21,620 units of its only product last period. It had budgeted sales of 24,770 units based on an expectedmarket share of 25 percent. The sales activit

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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