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it sales Product X Product Y it contribution margin Budget AC 22,500 42,000 90,000 80,000

it sales Product X Product Y it contribution margin Budget AC 22,500 42,000 90,000 80,000

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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Jackson, Inc., manufactures two products that it sells to the same market. Excerpted below are its budgeted and actual operating results for the year just completed: Budget 22,500 42,000 90,000 80,000 Unit sales Product X Product Y Unit contribution margin Product X Product Y Unit selling price Product X Product Y Actual The market size variance is: $ 4.80 $ 3.90 $ 13.00 $14.00 $ 13.00 $ 14.00 $30.00 $ 29.00 Industry volume was estimated to be 1,875,000 units at the time the budget was prepared. Actual industry volume for the period was 2,440,000 units. Jackson measures variances using contribution margin.
Transcribed Image Text:Jackson, Inc., manufactures two products that it sells to the same market. Excerpted below are its budgeted and actual operating results for the year just completed: Budget 22,500 42,000 90,000 80,000 Unit sales Product X Product Y Unit contribution margin Product X Product Y Unit selling price Product X Product Y Actual The market size variance is: $ 4.80 $ 3.90 $ 13.00 $14.00 $ 13.00 $ 14.00 $30.00 $ 29.00 Industry volume was estimated to be 1,875,000 units at the time the budget was prepared. Actual industry volume for the period was 2,440,000 units. Jackson measures variances using contribution margin.
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