Chapter 18, Assignment 2 Contribution Margin Variance Iliff, Inc., produces and sells two types of countertop ovens--the toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted Amounts: Toaster Convection Oven Oven Total Sales: $2,940,000 ($98 x 30,000) ($153 x 17,500) $2,677,500 $5,617,500 730,000 1,205,000 Variable expenses Contribution margin 475,000 $2,465,000 $1,947,500 $4,412,500 Actual Amounts: Toaster Convection Oven Oven Total Sales: ($82 X 26,000) $2,132,000 ($157 x 14,000) $2,198,000 $4,330,000 Variable axhenses 517.600 685.600 1.203.200 Sales: $2,132,000 ($82 x 26,000) ($157 x 14,000) $2,198,000 $4,330,000 517,600 685,600 1,203,200 Variable expenses Contribution margin $1,614,400 $1,512,400 $3,126,800 Required: 1. Calculate the contribution margin variance. 2. What if actual units sold of the convection oven decreased? How would that affect the contribution margin variance? What if actual units sold of the convection oven increased? How would that affect the contribution margin variance