Peninsula Candy Company makes three types of candy bar: Chewy, Chunky, and Choco-lite (Lite).

Saved Help Peninsula Candy Company makes three types of candy bars: Chewy, Chunky, and Choco-Lite (Lite). Sales volume for the annual budget is determined by estimating the total market volume for candy bars and then applying the company's prio adjusted for planned changes due to company programs for the coming year. Volume is apportioned among the three bars based on the prior year's product mix, again adjusted for planned changes for the coming year. The following are the company budget and the results of operations for July chewy 4,000 bars $440 Chunky 4,000 bars $ 720 Choco-Lite 8,000 bars $1,440 1.200 $ 240 56 $ 184 Total 16,000 bars $2.600 2,120 $ 480 Budget Sales-units (in thousands) Sales-dollars (in thousands) Variable costs Contribution margin Manufacturing fixed cost Product margin Marketing and administrative costs (all fixed) Operating profil $ 140 131 $ 101 $ 343 $ 287 Chewy 2.800 bars $168 Chunky 4,000 bars $720 620 $ 100 Choco-Lite 8,100 bars $1,440 1.197 $ 243 Total 14.900 baru $ 2,328 1.912 Actual Sales-units (in thousands) Sales-dollars (in thousands) Variable costs Contribution margin Manufacturing fixed cost Product margin Marketing and administrative costs (all fixed) Operating profit 38 55 131 $ 35 $62 $ 188 $ 285 $ 252 Industry volume was estimated at 86.4 million bars for budgeting purposes. Actual industry volume for July was 77.760 million bars Required: a. Determine the sales price and sales activity variances. b. Break down the sales activity variance into the parts caused by industry volume and market share. Complete this question by entering your answers in the tabs below. Required A Required B Determine the sales price and sales activity variances. (Do not round intermediate calculations. Enter your ans thousands. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is not select either option.) Sales price variance Sales activity variance Required B > Required: a. Determine the sales price and sales activity variances. b. Break down the sales activity variance into the parts caused by industry volume and market share. Complete this question by entering your answers in the tabs below. Required A Required B Break down the sales activity variance into the parts caused by industry volume and market share. (Do nd intermediate calculations. Enter your answers in thousands rounded to 1 decimal place. Indicate the effect by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Market share variance Industry variance