Problem 17-62 (Static) Industry Volume and Market Share Variances - Variance Investigation (LO 17-3,7) La...
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Problem 17-62 (Static) Industry Volume and Market Share Variances - Variance Investigation (LO 17-3,7) La Salle Outfitters organizes wilderness tours. For the most recent touring season, the industry volume variance showed La Salle sold 336 more tours than expected, but the market share variance resulted in 96 fewer tours than expected. The standard contribution margin from a single tour is $640. The industry trade group reported that the number of tours sold during the season was 1,400 greater than expected. La Salle's revenues total \$1,200,000 during for a typical season. Required: o. What budgeted market share does La Salle use in planning its budget? b. What was the actual market share La Salle captured during the season
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