The Buffett Company Had the Following Expectations Required:
(Be Sure to Indicate Whether the Variance Is Favorable

Essay

The Buffett Company had the following expectations: $$\begin{array} { | c | r | l | } \hline \text { Total market for the product } & 175,000 & \text { units } \\\hline \text { Buffett's budgeted sales } & 54,250 & \\\hline \text { Contribution margin per unit } & \$ 13.00 & \\\hline \text { Actual results for the year were: } & & \\\hline \text { Total market for the product } & 166,250 & \text { units } \\\hline \text { Buffett's actual sales } & 56,526 & \\\hline\end{array}$$
Required:
(Be sure to indicate whether the variance is favorable or unfavorable. )
a.Compute Buffett's sales activity variance.b.Compute Buffett's market share variance.c.Computer Buffett's industry volume variance.