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Wheat IncHas an Exclusive Contract with an Exporter

question 52

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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: 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 the firm's market size variance? A) $6,000 unfavorable. B) $750 unfavorable. C) $4,000 unfavorable. D) $17,500 unfavorable. E) $0.
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 the firm's market size variance?


Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, used in statistics to quantify the spread of a data set.

Budget Line

A graphical representation of all possible combinations of two goods that an individual can purchase, given their income and the prices of the goods.

Expected Rate

A forecasted value, often referring to interest or growth rates, based on current and historical data.

Expected Rate

In finance, it typically refers to the predicted average rate of return on an investment over a specified period.

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