El Alamein Company has set the following sales budget for its product "Peep": Details Sales of "Peep" by El Alamein Contribution per unit Values 50,000 units $20 El Alamein Company estimates that the total size of the market in the budget period will be 900,000 units. It budgets to have a market share of 10%. Actual sales results for the period were as follows: Details Sales of "Peep" by El Alamein Total market sales of "Peep" Values 68,000 units 780,000 units In retrospect, it is accepted that the budget should have been based on a total market share of 780,000 units. Requirement: (LO3. BT Level: Apply) 1. Market size variance Calculate the following variances, showing the formulas for each (6 Marks) 2. Market share variance (6 Marks) b) Explain, in no more than 3 lines EACH, the reason for the above-mentioned variances (5 Marks)