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Shaghai Tea Products has an exclusive contract with British Distributors. Calamine and Shanghai are two brands of teas that are imported and sold to retail

Shaghai Tea Products has an exclusive contract with British Distributors. Calamine and Shanghai are two brands of teas that are imported and sold to retail outlets. The following information is provided for the month of March: Actual Budget Calamine Shanghai Calamine Shanghai Sales in pounds 3,400 lbs. 3,600 lbs. 4,000 lbs. 3,000 lbs Price per pound $2.50 $2.50 $2.00 $3.00 Variable cost per pound 1.00 2.00 1.00 1.50 Contribution margin $1.50 $0.50 $1.00 $1.50 Budgeted and actual fixed corporate-sustaining costs are $1,750 and $2,000, respectively. What is the actual contribution margin for the month? $7,500 $8,800 $8,500 $6,900

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