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Hi John.
My question is regarding the market share/size question. How come in the answer they calculated the market size in this way revised contribution – budgeted contribution. Should it not be revised budgeted revenue minis budgeted revenue multiply by standard contribution. Please explain this to me am slightly confused.
Many Thanks
FatimaIt makes no difference which way you calculate it.
Doing it your way, the budgeted revenue for nurses is 4,200, the revised revenue is 5,670. So the difference is 1,470. If you multiply this by the standard contribution of 80% you get a variance of $1,176, which is the same as the examiners answer.
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