Springwater Brewery has two main products: premium and regular ale. Its operating results and master budget for 20XX (000s omitted) follow: Operating Results of 20XX Master Budget for 20XX Premium Regular Total Premium Regular Total Barrels 220 660 880 280 420 700 Sales $ 35, 200 $ 75,900 $ 111, 100 $ 42,000 $ 50, 400 $ 92, 400 Variable expenses 17, 600 46, 200 63, 800 22, 400 29 , 400 51,800 Contribution margin $ 17, 600 $ 29, 700 $ 47, 300 $ 19, 600 $ 21, 000 $ 40, 600 Fixed expenses 11, 000 8,000 19, 000 11, 000 8, 090 19,000 Operating income $ 6, 600 $ 21, 700 $ 28, 300 $ 8, 600 $ 13, 000 $ 21, 600 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.Help Save & EX Check (Enter your answers in thousands of dollars.) 1 . Selling price variance - Premium 5 Selling price variance - Regular points Total selling price variance Skipped 2 Sales volume variance - Premium Sales volume variance - Regular Total sales volume variance eBook 3. Sales quantity variances - Premium Hint Sales quantity variances - Regular Print Total sales quantity variance References 4 Sales mix variance - Premium Sales mix variance - Regular Total sales mix variance 5. Sales volume variance 6. Market size variance 7. Market share variance 8 Sales quantity variance