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Your company is part of a large industry. The industry had sales volume of 235.3 million units last quarter. When setting the budget, you
Your company is part of a large industry. The industry had sales volume of 235.3 million units last quarter. When setting the budget, you had anticipated industry volume of 206 million and market share of 0.29%. Your actual sales volume was 525283 units. In addition, the following budget and actual amounts apply to the quarter for your business (all in $million). Revenue Budget 2.47 Actual 2.66 Variable cost Fixed cost 1.12 1.22 1.00 1.05 Provide the market share variance (absolute value, whole number of dollars, not in millions). Answer: Is the above variance favorable or unfavorable? Answer 2 for favorable and 1 for unfavorable. Answer:
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