Cornerstone Exercise 18.6 (Algorithmic) Contribution Margin Variance Iliff, Inc., produces and sells two types of countertop ovensthe toaster oven and the convection oven. Budgeted and actual data for the two models are shown below. Budgeted Amounts: Toaster Oven Convection Oven Total Sales: ($90 * 27,500) $2,475,000 ($159 * 19,000) $3,021,000 $5,496,000 Variable expenses 510,000 850,000 1,360,000 Contribution margin $1,965,000 $2,171,000 $4,136,000 Actual Amounts: Toaster Oven Convection Oven Total Sales: ($84 * 25,000) $2,100,000 ($157 * 13,500) $2,119,500 $4,219,500 Variable expenses 557,200 712,300 1,269,500 Contribution margin $1,542,800 $1,407,200 $2,950,000 Required: 1. Calculate the contribution margin variance. $