Boston Inilonautics, Inc, produces Windows phones. Boston Infonautics markets three different handheld models: WinPro is a souped-up verion for the execufive on the go, WinCE is a consumer-oriented version, and Winkid is a stripped-down version for the young adult market. (Click the icon to view additional information) Budgeted and actual operating data for the company's thind quarter of 2020 are as follows (Click the icon to view the budgeted data) Click the icon to view the actual data.) Read the requirements Requirement 1. Calculate the market-share and market-size variances for Boston Infonautics in the third quarter of 2020 (calculate all variances in lerms of contribution margins). (Abbreviation used CM= contribution margins) Begin by determining the formula for the market-share variance, then calculate the variance for Boston Infonautics in the third quarter of 2020 Label the variance as favorable (F) or unfavorable (U) (For amounts entered into the formula, enter all umounts to fwo decimal places except for units. More info Boston Infonautics' senior vice president of marketing prepared his budget at the beginning of the third quarter assuming a 24% market share based on total sales. Foolinstead Research estimated that the total market would reach sales of 450,000 units worldwide in the third quarter. However, actual sales in the third quarter were 500,000 units. Data table Bu Data table Requirements 1. Calculate the market-share and market-size variances for Boston Infonautics in the third quarter of 2020 (calculate all variances in terms of contribution margins). 2. Explain what happened based on the market-share and market-size variances. 3. Calculate the actual market size, in units, that would have led to no market-size variance (again using budgeted contribution margin per unit). Use this market-size figure to calculate the actual market share that would have led to a zero market-share variance