The Knife Store (KS) operates in the local market of Springfield, Illinois. (KS) produces three...
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Accounting
The Knife Store (KS) operates in the local market of Springfield, Illinois. (KS) produces three types of knives that have budgeted and actual sales data for knife products in the Springfield IL market as follows for the current month: Pocket Paring Bread
Budgeted sales in units 7,200 4,800 4,000
Budgeted selling price per unit $ 5.00 $ 6.00 $ 7.50
Budgeted variable cost per unit $ 3.00 $ 2.00 $ 2.50
Actual sales in units 10,800 3,600 7,200
Actual selling price per unit $ 4.50 $ 5.00 $ 8.00
Actual variable cost per unit $ 2.50 $ 2.00 $ 2.00 Assume KS budgeted a 25% market share of total Knife product sales. Reliable industry data indicates that the actual total number of knives sold for the month in Springfield market was 72,000. a. Calculate the Market-Size Variance
b. Calculate Market Share Varience
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