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The Durham Corporation produces oil-based paint, water-based paint, and latex-based paint. The following is the budget and actual data for the most recent year: Budget
The Durham Corporation produces oil-based paint, water-based paint, and latex-based paint. The following is the budget and actual data for the most recent year: Budget Actual 100,000 95,000 80,000 82,000 95,000 90,000 $30 $32 $25 $22 Sales of oil-based paint in cans Sales of water-based paint in cans Sales of latex-based paint in cans Selling price per can of oil-based paint Selling price per can of water-based paint Selling price per can of latex-based paint Variable expense per can of oil-based paint Variable expense per can of water-based paint Variable expense per can of latex-based paint Market volume of oil-based paint in cans Market volume of water-based paint in cans Market volume of latex-based paint in cans $32 $28 $21 $23 $15 $14 $22 $24 480,000 420,000 350,000 420,000 480,000 460,000.
Required:
1. Calculate the sales-price variance for latex-based paint
2. Calculate the sales volume variance for latex-based paint
3. Calculate the sales-quantity variance for oil-based paint
4. Calculate the sales-mix variance for water-based paint
5. Calculate the market-volume variance for oil-based paint 6. Calculate the market share variance for water-based paint
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