Exercise 10C-1 Variance Analysis [LO10] Johnston Company (JC) sells two types of bicycles with details as follows for 2019 Mountain Road Plan Expected total industry unit sales Budgeted JC unit sales Budgeted selling price per unit Budgeted variable costs per unit Actuals Actual total industry unit sales Actual JC unit sales Actual selling price per unit Actual variable cost per unit 96,000 170,000 8,400 34,000 $ 1,200 1,600 $968 1,258 120,000 200,000 12,000 36,000 $ 1,240 1,575 $ 1,0001,275 Requirea 1. Calculate the budgeted contribution margin for each model Budgeted Contribution Margin Selling price Variable costs Budgeted contribution margin per unit Mountain Road 1,200 $ 968 232$ 1,600 1,258 342 2. Calculate the following variances: a. Sales Price Variance b. Market Volume Variance c. Market Share Variance d. Sales Mix Variance e. Sales Quantity Variance