mapter 18, Assignment 2 Contribution Margin Volume 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: ($92 x 25,500) $2,346,000 ho ($149 x 15,000) $2,235,000 $4,581,000 Variable expenses 465,000 720,000 1,185,000 Contribution margin $1,881,000 $1,515,000 $3,396,000 Actual Amounts: Toaster Convection Oven Oven Total Sales: ($81 x 24,500) $1,984,500 ($163 x 12,500) $2,037,500 $4,022,000 Variable exnenses 539.600 650.000 1 189.600 Sales: ($81 x 24,500) $1,984,500 ($163 x 12,500) $2,037,500 $4,022,000 Variable expenses 539,600 650,000 1,189,600 Contribution margin $1,444,900 $1,387,500 $2,832,400 Required: 1. Calculate the budgeted average unit contribution margin. Round your answer to the nearest cent. Use rounded answer in subsequent computations. per unit 2. Calculate the contribution margin volume variance. 3. What if actual units sold of the convection oven decreased? How would that affect the contribution margin volume variance? What if actual units sold of the convection oven increased? How would that affect the contribution margin volume variance