Springwater Brewery has two main products: premium and regular ale. Its operating results and master budget for 20XX (000s omitted) follow: Premium Barrels Sales 220 Operating Results of 20XX Regular 660 Total 880 Variable expenses $ 35,200 17,600 $ 75,900 46,200 $ 111,100 63,800 Contribution margin Fixed expenses $ 17,600 11,000 $ 29,700 8,000 $ 47,300 19,000 $ 19,600 11,000 Operating income $ 6,600 $ 21,700 $ 28,300 $ 8,600 Master Budget for 20XX Regular Premium 280 $ 42,000 22,400 Total 420 700 $ 92,400 51,800 $ 50,400 29,400 $ 21,000 8,000 $ 40,600 19,000 $ 21,600 $ 13,000 Pam Kuder, CEO, expected the total industry sales to be 2,500,000 barrels during the period. After the year, Mark Goldfeder, the controller, reported that the total sales for the industry were 2,750,000 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.) Answer is complete but not entirely correct.