Grouse Corporation manufactures two types of backpacks, the Osprey for multi-day trips and the Falcon for daytrip. Budgeted and actual operating data for the year are as follows: Static Budget Number sold Osprey 20,000 Contribution margin $5,500,000 Falcon 45,000 $9,000,000 Total 65,000 $14,500,000 Actual Results Osprey Falcon Total Number sold Contribution margin 48,000 $9,960,000 70,000 $16,010,000 22,000 $6,050,000 Prior to the beginning of the year, a consulting firm estimated the total volume for backpacks of the Osprey and Falcon category to be 305,000 units, but actual industry volume was 5% higher than the estimate. Required: 1. Compute the following variances: a. Flexible budget variance (2 marks) b. Sales volume variance (2 marks) c. Sales mix variance (2 marks) d. Sales quantity variance (2 marks) e. Market size variance (3 marks) f. Market share variance (3 marks) 2. Comment on 3 of the most significant variances above. (6 marks).