Exercise 17-24 (Algo) Industry Volume and Market Share Variances (LO 17-3) Olive Tree Products sold 79,000 units during the last period when industry volume totaled 327,000 units. The company oniginally expected to sell 82,000 based on a budgeted market share of 20 percent. The budgeted selling price was $52 per unit Budgeted variable costs were $27 per unit. Budgeted fixed costs were $307,000 and applied based on units produced Required: Compute the sales activity variance, and break it down into market share variance and the industry volume variance. (Indicate the effect of each variance by selecting "F" for favorable, of " U " for unfavorable. If there is no effect, do not select either option.) Exercise 17-24 (Algo) Industry Volume and Market Share Variances (LO 17-3) Olive Tree Products sold 79,000 units during the last period when industry volume totaled 327,000 units. The company oniginally expected to sell 82,000 based on a budgeted market share of 20 percent. The budgeted selling price was $52 per unit Budgeted variable costs were $27 per unit. Budgeted fixed costs were $307,000 and applied based on units produced Required: Compute the sales activity variance, and break it down into market share variance and the industry volume variance. (Indicate the effect of each variance by selecting "F" for favorable, of " U " for unfavorable. If there is no effect, do not select either option.)