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 prior year market share, 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 2, eee bars2 $2ee Chunky ,000 bars $ 480 408 $ 88 Choco-Lite 4, eee bars $889 749 $140 140 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 profit Total 8,888 bars $1,560 1,280 $ 280 126 $ 154 $ 60 $ 84 57 $ 97 Chewy 1,600 bars2 $112 Chunky ,000 bars $489 Choco-Lite 4,200 bars $889 716 $164 Total 7,800 bars $1,472 1.210 $ 262 138 $ 42 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 $ 56 $106 $ 124 13 111 $ Industry volume was estimated at 87.0 million bars for budgeting purposes. Actual Industry volume for July was 79.170 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 answers in thousands. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Sales price variance Sales activity variance Required A Required B > Required A Required B Break down the sales activity variance into the parts caused by industry volume and market share. (Do not round intermediate calculations. Enter your answers in thousands rounded to 1 decimal place. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Market share variance Industry variance