TV Timers, Inc., manufactures time control devices for TV's. The firm has the following operating data for its operations in July: Actual market size 10,000 Budgeted market size 11,250 Actual market share 34% Budgeted market share 32% Budgeted average contribution margin$6 Actual average contribution margin$5.25 What is the company's market share variance?

Market Share Variance can be calculated by subtracting budget share in the industry from the actual…

Answered: V Timers, Inc., manuf

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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TV Timers, Inc., manufactures time control devices for TV's. The firm has the following operating data for its operations in July:


Actual market size		10,000
Budgeted market size		11,250
Actual market share		34	%
Budgeted market share		32	%
Budgeted average contribution margin	$	6
Actual average contribution margin	$	5.25

What is the company's market share variance?

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