Question
A company produces two types of woolen products, woolen mittens and woolen socks. Estimated and actual operating information for the period is: It is to
A company produces two types of woolen products, woolen mittens and woolen socks. Estimated and actual operating information for the period is:
It is to produce and sell 75,000 woolen mittens and 50,000 woolen trousers. The estimated profit margin for wool mittens is ISK 36,000,000. and ISK 16,500,000. because of woolen socks.
Actual numbers: 85,000 woolen mittens and 45,000 woolen socks were produced and sold. The actual profit margin for wool mittens was ISK 39,500,000. and ISK 13,600,000. because of woolen socks.
At the end of the last period, a market research company had estimated that the market for wool products of the type that the company produces and sells was 400,000 pcs. In practice, the market during the period was 380,000 pcs.
What will be the market-share variance for the company's margin. You should answer in whole numbers (and put - in front of the amount if the deviation is unfavorable).
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