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Blank Slate Inc. (BSI) produces tablet computers. BSI markets three different handheld models. SlatePro is a souped-up version for the executive on the go; Slate is a consumer-oriented version; and SlateLite is a stripped-down version for the young adult market. Blank Slate's senior vice president of marketing prepared his budget at the beginning of the third quarter assuming a 25% market share based on total sales. The total tablet market was estimated by Foolinstead Research to reach sales of 400,000 units worldwide in the third quarter. However, actual sales in the third quarter were 500,000 units. Budgeted and actual operating data for the company's third quarter of 2018 are as follows: (Click the icon to view the budgeted data.) |(Click the icon to view the actual data.) Required Requirement 1. Calculate the market share and market-size variances for BSI in the third quarter of 2018 (calculate all variances in terms of contribution margins). Begin by determining the formula for the market-share variance, and then calculate the variance for Blank Slate in the third quarter of 2018 (calculate all variances in terms of contribution margins). Label the variance as favourable (F) or unfavourable (U). (For amounts entered into the formula, enter all amounts to two decimal places except for units. Round your final answer to the nearest whole dollar.) Actual Budgeted Actual Budgeted CMcomposite unit Market-share market share market share X for budgeted mix = variance )x market sizeunits ) x 21989000 22275000 E Homework: Assignment 5 Actual data Next question Actual 0 Quarter 2018 Selling Variable Cost Contribution Sales Volume Contribution Price lank Slate Inc. (BSI) produces tablet computers. BSI onsumer-oriented version; and SlateLite is a stripped- lank Slate's senior vice president of marketing prepard blet market was estimated by Foolinstead Research t 00,000 units. Budgeted and actual operating data fort (Click the icon to view the budgeted data.) per Unit Margin per Unit in Units Dollars Slate Pro $ 349 $ 178 $ 171 11,000 $ 1,881,000 8,492,000 Slate 285 92 193 44,000 55,000 SlateLite equired 102 1,595,000 73 29 110,000 $ 11,968,000 equirement 1. Calculate the market-share and marke Print Done egin by determining the formula for the market share rms of contribution marains) Label the variance as fa Budgeted data arket-share variance Budgeted Operating Data, Third Quarter 2018 Selling Variable Cost Contribution Sales Volume Contribution Price per Unit Margin per Unit in Units Dollars SlatePro $ 379 $ 182 $ 197 12,500 $ 2,462,500 Slate 269 98 171 37,500 50,000 6,412,500 4,200,000 SlateLite 149 65 84 1. Calculate the market share and market-size variances for BSI in the third quarter of 2018 (calculate all variances in terms of contribution margins). 2. Explain what happened based on the market-share and market-size variances. 3. Calculate the actual market size, in units, that would have led to no market-size variance (again using budgeted contribution margin per unit). Use this market-size figure to calculate the actual market share that would have led to a zero market-share variance