Patel, Inc., produces and sells gel-filled ice packs. Patel’s performance report for April follows:

Required:
1. Calculate the contribution margin variance and the contribution margin volume variance.
2. Calculate the market share variance and the market size variance.

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Actual Budgeted Units sold Sales 50,000 40,000 $350,000 $290,000 Variable costs 225,000 190,000 Contribution margin $125,000 $100,000 Market size (in units) 1,000,000 1,000,000