Question: Continuing with Gonzalez Valves data in the previous problem, assume Gonzalez budgeted 10.0% share sales of total Gate, Globe, and Check Valves in the local

Continuing with Gonzalez Valves data in the previous problem, assume Gonzalez budgeted 10.0% share sales of total Gate, Globe, and Check Valves in the local market. Reliable industry data indicates that the actual total number of Gate, Globe and Check Valves sold in the same period was 331,250 valves.

a. Compute the market-share variance for the period.

b. Compute the market-size variance for the period.

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