MooCow manufactured artisan cream and they provided the following information:

Budget Actual Selling price per litre $9 $8 Milk req'd for one litre of cream 1.7 litres 1.6 litres Cost of milk per litre $1.50 $1.55 Packaging cost per litre of cream $2.50 $2.55 Fixed cost $1,500 $1,600

Market size (litres) 22,000 19,000 Market share 15% 16%

BE DETAILED IN THE EXPLANATION OF THE SOLUTION

1. What is the market size variance ($)?

Use a postive number for a favourable variance, and a negative number for an unfavourable variance?

ALSO EXPLAIN ME WHO TO CALCULATE THE Budgeted Average Unit Contribution Margin.

Answer the following questions using the information below: The actual information pertains to the month of August. As part of the budgeting process, Alloway's Fencing Company developed the following static budget for August. Alloway is in the process of preparing the flexible budget and understanding the results. Actual Flexible Static Results Budget Budget Sales volume (in units) 20, 000 25, 000 Sales revenues $1 , 000, 000 $1 , 250, 000 Variable costs 512,000 600,000 Contribution margin 488, 000 650, 000 Fixed costs 458,000 450,000 Operating profit 30 , 000 200 , 000 The flexible-budget variance for variable costs is:Market share 15% 16% Complete the following reconciliation: Enter your answers as numbers without commas or spaces. For example: Enter 3500.50, not 3,500.50. For variances, use a positive number for favourable, and a negative number (prex with -) for unfavourable. Hint: Calculate your answers to 2 decimal places. Budgeted profit $11535.000 +/- Market size variance +/- Market share variance 2 Flexible budget profit $10508.00 +/ Price variance +/ Milk usage efficiency variance +/- Milk price variance +/ Packaging cost variance +/- Fixed cost variance 2 Actual profit $7,428.80