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Omaha Steaks sells a variety of meats. During April, the following information was gathered: Tri-Tip London Broil Rib-eye Budgeted units sold 400 250 300 Actual

Omaha Steaks sells a variety of meats. During April, the following information was gathered:

Tri-Tip

London Broil

Rib-eye

Budgeted units sold

400

250

300

Actual units sold

500

400

350

Budgeted selling price

$30

$11

$18

Actual selling price

$25

$12

$28

Budgeted variable cost

$18

$5

$10

Actual variable cost

$15

$4

$11

Actual market size was 4,500, whereas budgeted market share was 22%.

REQUIRED:

Compute the sales-volume, sales-mix, sales-quantity, market-share, and market-size variances. Be sure to indicate whether each is favorable or unfavorable!

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