Use the information below to answer the following question(s) .Special Tea Products (STP) has an exclusive contract with Tea Distributors.Two brands of Teas are imported, Strong and Mild, and sold to retail outlets.The monthly budget for the contract is based on a combination of last year's performance, a forecast of general industry sales, and the company's expected share of the Canadian market for imported Tea.The following information is provided for the month of May:
Budgeted fixed costs are $1,750.Actual fixed costs are $2,000.
-What is the STP sales-volume variance (contribution margin) for Strong tea?
Definitions:
Time Interval
A specific duration of time between two points or events.
Input Prices
The cost of resources used in the production process.
Market Period
A short time frame in which the supply of a commodity is fixed, typically because the production process cannot be adjusted quickly.
Supply
The total amount of a specific good or service that is available to consumers at various price levels.
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