II. SALES VARIANCE ANALYSIS The Furniluxe manufactures two types of study desk: one for the residential market, and the other for the school market. Budgeted and actual operating data for the year 2022 are: Static Budget Residential School Total Number of desk sold 390.000 210,000 600.000 Contribution margin $39,000,000 $16,800,000 $55,800,000 Actual Results Residential School Total Number of desk sold 232,000 348,000 580,000 Contribution margin $20,880,000 $27,840,000 $48,720,000 The Furnilixe prepared the budget for 2022 assuming a 15% market share based on total desk sales in the region. The total desk market was estimated to reach sales of 4,000,000 desks. However, actual total sales volume was 3,625,000 desks. Required: Compute the following variances in terms of contribution margin: 1. Compute the total sales-volume variance. (3%) 2. Compute the sales-mix variance and the sales-quantity variance by type of desk. (1%) 3. Compute the market share variance and the market size variance. (5%) 4. Provide possible explanation on the result! (5%)