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1'r'our company is part of a large industry. The industry had sales volume of 243.6 million units last quarter. When setting the budget, you had

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1'r'our company is part of a large industry. The industry had sales volume of 243.6 million units last quarter. When setting the budget, you had anticipated industry volume of 22?.4 million and market share of 0.22%. Your actual sales volume was 532566 units. In addition. the following budget and actual amounts apply to the quarter for your business {all in $mi||ion]l. Budget Actual Revenue 2.4? 2.66 'v'ariable cost 1.12 1.22 Fixed cost 1.00 1.05 Provide the market share variance [absolute value. whole number of dollars, not in millions}. Is the above variance favorable or unfavorable? Answer 2 for favorable and 1 for unfavorable. Answer: Now provide the industry volume variance (absolute value, whole number, not in millions of $). Answer:Is the above variance favorable or unfavorable? Answer 2 for favorable and 1 for unfavorable.

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