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 MT $ 50 ET 5:00 48 3,400 Operating Results MT ET $ 60 $75 53 4,446 Price per pound Variable cost per pound 25 Sales (in pounds) 3,400 The total market was estimated to be 68.000 pounds at the time of budget The actual total market for the year is 62.400 pounds What is the firm's market size variance? (Round your intermediate percentage answers to nearest whole percent.) 27 3,354
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 MT $ 50 ET 5:00 48 3,400 Operating Results MT ET $ 60 $75 53 4,446 Price per pound Variable cost per pound 25 Sales (in pounds) 3,400 The total market was estimated to be 68.000 pounds at the time of budget The actual total market for the year is 62.400 pounds What is the firm's market size variance? (Round your intermediate percentage answers to nearest whole percent.) 27 3,354
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please do not give solution in image format thanku
Transcribed Image Text:Multiple Choice
O
O
O
O
O
$15,160 unfavorable.
$15,960 unfavorable.
$17,200 unfavorable.
$18,160 unfavorable.
$26,960 unfavorable.
Transcribed Image Text: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
MT
ET
ET
Price per pound
$ 50
5.80
$75
Variable cost per pound
25
48
53
Sales (in pounds)
3,400
3,400
4,446
The total market was estimated to be 68,000 pounds at the time of budget. The actual total market for the year is 62.400 pounds
What is the firm's market size variance? (Round your intermediate percentage answers to nearest whole percent.)
$.60
27
3,354
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