Required information Problem 16-54 Market Size and Market Share Variances for Small Business [LO 16-3) [The following information applies to the questions displayed below.) Diane's Designs is a small business run out of its owner's house. For the past 6 months, the company has been selling two products, a welcome sign and a birdhouse. The owner has been concerned about the company's marketing effectiveness. The master budget and actual results for March of this year follow. Master Budget Welcome Sign 50 $1,000 890 110 75 $ 35 Birdhouse 25 $ 250 120 Unita Sales Variable costs Contribution rgin Fixed costs Operating income Total 75 $1,250 1,010 $ 240 150 $ 90 75 555 es Sales Variable costs Contribution margin Fixed costs Operating income Actuel Results Welcome Sign Birdhouse Total 45 35 80 $ 575 $.420 $1,095 589 270 850 $ 95 $ 150 $245 25 75 150 $ 20 $75 5 95 The total market for welcome signs for each of the last 6 months was 500 budgeted and 500 actual, Diane expected the total market for birdhouses to be 200 units per month the actual volume for the entire market, however, turned out to be only 175 units per month Required: 1. Compute Diane's actual market share for welcome signs and birdhouses. 2. What is the market share contribution margin variance? (Leave no cell blank: if there is no effect enter "0" and select "None" from dropdown. Do not round Intermediate calculations. Round your answers to 2 decimal places.) 3. What is the market size contribution margin variance? (leave no cell blank: If there is no effect enter "O" and select "None" from dropdown. Do not round intermediate calculations. Round your answers to 2 decimal places.) 1. Actual market share 2. Market share variance 3. Market size variance Welcome Signs 9% Unfavorable None Birdhouses 20% Favorable Unfavorable