The Chair Company Manufactures Two Modular Types of Chairs; One

question 111

Essay

The Chair Company manufactures two modular types of chairs; one for the residential market, and the other for the office market.Budgeted and actual operating data for the past year are:
The industry volume for residential and office chairs of the type sold by the Chair company had been estimated at 2,400,000.Actual industry volume for the year was 2,200,000 chairs.Required:
a.Compute the sale-mix variance and the sales- quantity variance by type of chair, and in total.
b.Compute the market-share variance and market-size variances.(Calculate actual and budgeted market share percentages to two decimal places.)

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Definitions:

Visionary Leadership

Visionary leadership brings to the situation a clear sense of the future and an understanding of how to get there.

Organisational Structures

The system of tasks, workflows, reporting relationships, and communication channels that link the diverse parts of an organization.

Core Principle

A fundamental belief or guideline that serves as the foundation for a system, program, or organization's operation.

Visionary Leadership

Involves leading an organization towards a unique and inspiring vision of the future, often characterized by innovation and risk-taking.