Jackson,Inc Manufactures Two Products That It Sells to the Same

question 1

Multiple Choice

Jackson,Inc manufactures two products that it sells to the same market.Excerpted below are its budgeted and actual operating results for the year just completed:
Industry volume was estimated to be 1,875,000 units at the time the budget was prepared.Actual industry volume for the period was 2,440,000 units.Jackson measures variances using contribution margin.The market share variance is:

• A)$113,600 unfavorable.
• B)$138,560 unfavorable.
• C)$259,200 unfavorable.
• D)$277,184 unfavorable.
• E)$338,800 unfavorable.

---

Definitions:

Significance Level

The probability of rejecting the null hypothesis when it is actually true; a threshold chosen by the researcher to indicate the level of evidence needed to reject the null hypothesis.

Kruskal-Wallis Test

A nonparametric statistical test used to compare three or more independent samples to determine if they originate from the same distribution.

P-value

The probability of obtaining a test statistic at least as extreme as the one that was actually observed, assuming that the null hypothesis is true.

Test Statistic

A value calculated from sample data during a hypothesis test that is compared to a threshold value to decide whether to reject the null hypothesis.