AJ Productions has provided the following variance report for the year ended 30 June 2022 Budgeted profit 3,000 Variance due to change in quantity sold 6.300 Favourable Flexible budget profit (quantity adjusted) 9,300 Variance due to change in price 2,420 Favourable Variance due to change in variable cost (3,630) Unfavourable Variance due to change in fixed cost (1,500) Unfavourable Actual profit 6,590 a) Assume the change in fixed cost was entirely due to a social media marketing campaign that enabled the company to charge a higher price. Was this marketing campaign justified? Why? b) In an increasingly competitive market, the company decided to enhance product features in order to drive sales volume. Doing so resulted in an increase in variable costs. Was the product enhancement justified? What other information would assist in answering this question? c) Notwithstanding the actual profit exceeded budget, in order to better assess performance of the business, what other information would you like to see? Let's suppose the budgeted market size was 10,000 units and budgeted market share was 10%. This resulted in budgeted revenue of $50m. Actual market size was 13,000 units, price was $52 and 1,210 units were sold. d) Provide a reconciliation of budgeted revenue to actual revenue e) What is the value in identifying separate variances for market size and market share