TV Timers, Inc What Is the Company's Market Size Variance?
A) $1,200 Unfavorable

question 73

Multiple Choice

TV Timers, Inc., manufactures time control devices for TV's. The firm has the following operating data for its operations in July: $\begin{array}{lr}\text { Actual market size } & 10,000 \\\text { Budgeted market size } & 11,250 \\\text { Actual market share } & 34 \% \\\text { Budgeted market share } & 32 \%\\\text { Budgeted average contribution margin }&\$6\\\text { Actual average contribution margin }&\$5.25\end{array}$ What is the company's market size variance?

• A) $1,200 unfavorable.
• B) $2,100 unfavorable.
• C) $2,231 unfavorable.
• D) $2,400 unfavorable.
• E) $2,550 unfavorable.

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Definitions:

Remedy

The means by which the enforcement of a right or the redress of a wrong is obtained.

Breach Of Contract

Occurs when one party fails to fulfill their obligations under a contract, leading to legal consequences for the defaulting party.

Contract Price

The total financial compensation agreed upon by all parties involved in a contract for the sale, purchase, or delivery of goods or services.

Market Price

The present cost for purchasing or selling an asset or service in a specific market.