Wheat Inc. has an exclusive contract with an exporter. Two brands of wheat are imported, labeled AB and CD. The following data are provided for the current fiscal year:
The total market was estimated to 40,000 bushels at the time of budget. The actual total market for the year is 32,000 bushels.
What is AB's contribution margin sales volume variance?
Definitions:
Machine-Hours
A measure used to allocate manufacturing overhead costs to products based on the number of hours machines are used in the production process.
Spending Variance
A measure of the difference between the budgeted amount of expenses and the actual amount spent.
Flexible Budget
A flexible budget tailored to adjust as activity levels or volumes change.
Plane Operating Costs
Expenses related to the operation of an aircraft, including fuel, maintenance, crew, and insurance.
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