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 Skipped Chewy Chewy Chunky Choco-Lite 8. Bee bars 4. eee bars See Total 16,000 bars $2.890 eBook 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 $ 490 P $367 $ es Chewy 2,888 bars $196 120 $ 76 Chunky 4,880 bars $800 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 Choco-Lite 8, 200 bars $1,600 1,321 $ 279 688 Total 15, eee bars $2,596 2,129 $ 467 132 $ 335 $112 39 58 $ 221 kipped $ 293 eBook Print Industry volume was estimated at 93.4 million bars for budgeting purposes. Actual industry volume for July was 84.060 million bars Rotorences 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 E 11 T L tule parts Ldused by Industry volume and market share. Complete this question by entering your answers in the tabs below. Required A Required B Skipped quired 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.) Book References Sales price variance Sales activity variance Required B > Complete this question by entering your answers in the tabs below. Required A Required B ed 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 ( Required A
