Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Winston Company had two products code named X and Y. The firm had the following budget for August: Sales Variable costs Contribution Margin Fixed costs

image text in transcribed
Winston Company had two products code named X and Y. The firm had the following budget for August: Sales Variable costs Contribution Margin Fixed costs Operating Income Selling Price per unit Product X $ 256,000 190,000 $ 66,000 50,000 $ 16,000 $ 100 Product Y $ 440,000 220,000 $ 220,000 108,000 $ 112,000 $ 50 Total $ 696,000 410,000 $ 286,000 158,000 $ 128,000 On September 1, the following actual operating results for August were reported: Sales Variable Costs Contribution Margin Fixed costs Operating Income Units Sold Product X $ 270,000 149,000 $ 121,000 50,000 $ 71,000 3,000 Product Y $ 460,000 184,000 $ 276,000 108,000 $ 168,000 9,000 Total $ 730,000 333,000 $ 397,000 158,000 $ 239,000 Total industry volume for both products X and Y was estimated to be 113,600 units at the time of the budget. Actual industry volume for the period for products X and Y was 100,000 units. The firm's market share variance for the period is: (Round your intermediate calculations to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting The Basis For Business Decisions

Authors: Robert F. Meigs, Jan R. Williams, Susan F Haka, Mark S. Bettner

International 11th Edition

007115809X, 978-0071158091

More Books

Students explore these related Accounting questions