Gerisch Consolidated sold 21,808 units of its only product last period. It had budgeted sales of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Gerisch Consolidated sold 21,808 units of its only product last period. It had budgeted sales of 24,958 units based on an expected market share of 25 percent. The sales activity variance for the period is $516,600 U. The industry volume variance was $288,312 U. Required: a. What is the budgeted contribution margin per unit for the product? b. What is the actual industry volume? c. What was the actual market share for Gerisch? Note: Round your answer to 1 decimal place (i.e. .123 as 12.3). d. What is the market share variance? Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. a. Contribution margin b. Actual industry volume c. Actual market share d. Market share variance per unit units % Gerisch Consolidated sold 21,808 units of its only product last period. It had budgeted sales of 24,958 units based on an expected market share of 25 percent. The sales activity variance for the period is $516,600 U. The industry volume variance was $288,312 U. Required: a. What is the budgeted contribution margin per unit for the product? b. What is the actual industry volume? c. What was the actual market share for Gerisch? Note: Round your answer to 1 decimal place (i.e. .123 as 12.3). d. What is the market share variance? Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. a. Contribution margin b. Actual industry volume c. Actual market share d. Market share variance per unit units %
Expert Answer:
Answer rating: 100% (QA)
a Budgeted Contribution Margin per Unit To calculate the budgeted contribution margin per unit we ne... View the full answer
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Posted Date:
Students also viewed these accounting questions
-
Albury Corporation sold 121,500 units of its only product last period. It had budgeted sales of 120,000 units based on an expected market share of 30 percent. The sales activity variance for the...
-
The treasurer of Kelly Bottling Company (a corporation) currently has $200,000 invested in preferred stock yielding 10 percent. He appreciates the tax advantages of preferred stock and is considering...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
According to USA Today (March 18, 1997), of 4 million workers in the general workforce, 5.8% tested positive for drugs. Of those testing positive, 22.5% were cocaine users and 54.4% marijuana users....
-
Determine the intensities w1 and w2 of the distributed loading acting on the bottom of the slab so that this loading has an equivalent resultant force that is equal but opposite to the resultant of...
-
Support or contradict this statement: Given the realities of todays economy and the rapid changes occurring in business technology, all competitive advantages are short lived. There is no such thing...
-
Two surveys asked Catholics in the Boston area whether contraceptives should be made available to unmarried women. The first survey involved in-person interviews, and 44% of the respondents answered...
-
Multiple Choice Questions For each of the following types of misstatements (parts a through d), select the control that should have prevented the misstatement: a. A manufacturing company received a...
-
Consider the polynomial g(x) = x +x3 +x+x+1 in F2. Show that it is irreducible but not primitive. What happens if you try to compute all powers a of a root a of g(x)?
-
Record the following transactions in General Ledger accounts of the General Fund of Fergieville. 1. Incurred salaries of $300,000, $280,000 of which was paid. 2. A long-term note ($400,000 face...
-
The equation m log, n= q can be rewritten as Question 9 Given than logx a 2 and logx b = 5, evaluate logx (a b).
-
Reporting an Accounting Error An error considered material of $93,750 (net of tax) to Netbic Corp. was discovered in 2020 that originated in 2019. The error represents an overstatement of the...
-
The room leader is responsible for management of the day-to-day operation of the room. The room leader's role includes providing leadership, guidance, and support to educators within the team to...
-
Rohan the Accounts manager for Paul Bookstore called a meeting with you (the bookkeeper) to discuss the results of operations for the year. In your meeting, you'll discuss: Milestones and...
-
1-Have you served as the leader of a technical project or other group of individuals? If so, what were your responsibilities? a)Did you need to organize the team members? If so, what was most...
-
closing costs: larry and laurie have founda home and made $118,100 offer that has been accepted. They make a down payment of 15%. Their bank charges a loan origination fee of 1.0% of the loam and...
-
Kaz purchases an article with a net price of $114.54 after a discount of 17% was allowed. Calculate the list price.
-
I frequently use NY Times and CNN and am aware of Fox News but I never use it. I visit these sites, NY Times and CNN, a few times a week whenever I have to research something or see something on...
-
The chapter describes how the dividends valuation approach measures value-relevant dividends to encompass various transactions between the firm and the common shareholders. What transactions should...
-
The chapter describes how firms must use flexible financial accounts to maintain equality between assets and claims on assets from liabilities and equities. Chapter 1 describes how some firms...
-
Bed and Breakfast (B&B), an Italian company operating in the Tuscany region, follows IFRS and has made the choice to remeasure long-lived assets at fair value. B&B purchased land in 2016 for...
-
Describe the link between the size of an organization and the formalization process.
-
Identify and describe the major features of the Strategic Management model.
-
Identify and describe the meaning of the term's formalization and informal.
Study smarter with the SolutionInn App