Essay
The Chair Company manufactures two modular types of chairs: one for the residential market, and the other for the office market. Budgeted and actual operating data for the year 2012 are:
Required:
Compute the following variances in terms of contribution margin:
a. Compute the total static-budget variance, the total flexible-budget variance, and the total sales-volume variance.
b. Compute the sale-mix variance and the sales-quantity variance by type of chair, and in total.
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