Use the following information for questions 31 and 32. The Kulara Olive Company had the following expectations for nicoise olives for 2011: Total market for nicoise olives 400000 pounds
Budgeted sales volume %u2026%u2026.. $5200000
Selling price per unit %u2026%u2026%u2026%u2026 $32.50
Variable costs per unit %u2026%u2026%u2026. $18.75 Actual results for 2011 were as follows: Total market for nicoise olives 375000 pounds
Sales volume (in pounds) %u2026.. 157500 pounds
Total sales revenue .%u2026%u2026%u2026%u2026 $5040000
Total variable costs %u2026.%u2026%u2026%u2026. $3008250
1. What is Kulara%u2019s market share variance for 2011. show and label your computations and clearly label your final answer. Be sure to
indicate whether the variance is favorable or unfavorable.
2. What is Kulara%u2019s industry volume variance for 2011. show and label your computations and clearly label your final answer. Be sure to
indicate whether the variance is favorable or unfavorable.