14-38 Variance analysis, sales-mix and sales-quantity variances. Miami Infonautics, Inc., produces handheld Windows CE TM-compatible organizers. Miami Infonautics markets three different handheld models: PalmPro is a souped-up version for the executive on the go, PalmCE is a consumer-oriented version, and PalmKid is a stripped-down version for the young adult market. You are Miami Infonautics' senior vice president of marketing. The CEO has discovered that the total contribution margin came in lower than budgeted, and it is your responsibility to explain to him why actual results are different from the budget. Budgeted and actual operating data for the company's third quarter of 2017 are as follows: Budgeted Operating Data, Third Quarter 2017 ASSIGNMENT Actual Operating Data, Third Quarter 2017 1. Compute the actual and budgeted contribution margins in dollars for each product and in total for the third quarter of 2017. 2. Calculate the actual and budgeted sales mixes for the three products for the third quarter of 2017. 3. Calculate total sales-volume, sales-mix, and sales-quantity variances for the third quarter of 2017. (Calculate all variances in terms of contribution margins.) 4. Given that your CEO gets very angry if actual results differ from budget, you want to be well prepared for this meeting. In order to prepare, write a paragraph or two comparing actual results to budgeted amounts