Springwater Brewery has two main products: premium and regular ale. Its operating results and master budget for 2019 (000s omitted) follow: Operating Results of 2019 Regular Master Budget for 2019 Regular Premium Total Premium Total Barrels 210 630 840 280 420 700 $75,600 50,400 $25,200 $111,300 69,300 $ 42,000 19,000 $ 23,000 $54,600 Sales Variable expenses Contribution margin $99,400 58,800 $40,600 19,000 $35,700 $44,800 18,900 $16,800 25,200 $19,600 10,000 $ 9,600 33,600 $21,000 9,000 Fixed expenses 10,000 $ 6,800 9,000 Operating income $16,200 $12,000 $21,600 Pam Kuder, CEO, expected the total industry sales to be 1,400,000 barrels during the period. After the year, Mark Goldfeder, the controller, reported that the total sales for the industry were 1,500,000 barrels. Required: Calculate the following: 1. Selling price variances for the period for each product and for the firm. 2. Sales volume variances for the period for each product and for the firm. 3. Sales quantity variances for each product and the firm. 4. Sales mix variances for the period for each product and for the firm. 5. The sum of the sales quantity variance and sales mix variance. Also, verify that this total equals the sales volume variance. 6. Market size variance for the period. 7. Market share variance for the period. 8. The sum of the market size variance and market share variance. Also, verify that this total equals the sales quantity variance. (Enter your answers in thousands of dollars.) 1. Selling price variance - Premium Selling price variance - Regular Total selling price variance 2. Sales volume variance - Premium Sales volume variance - Regular Total sales volume variance 3. Sales quantity variances - Premium Sales quantity variances - Regular Total sales quantity variance 4. Sales mix variance - Premium Sales mix variance Regular Total sales mix variance 5. Sales volume variance 6. Market size variance 7. Market share variance 8. Sales quantity variance