Springwater Brewery has two main products: premium and regular ale. Its operating results and master budget for $20$XX $(000$s omitted$)$ follow:

Operating Results of $20$XX Master Budget for $20$XX

Premium Regular Total Premium Regular Total

Barrels $210630840260390650$

Sales $ $35,700$ $ $78,750$ $ $114,450$ $ $41,600$ $ $50,700$ $ $92,300$

Variable expenses $18,90053,55072,45023,40033,15056,550$

Contribution margin $ $16,800$ $ $25,200$ $ $42,000$ $ $18,200$ $ $17,550$ $ $35,750$

Fixed expenses $12,0008,00020,00012,0008,00020,000$

Operating income $ $4,800$ $ $17,200$ $ $22,000$ $ $6,200$ $ $9,550$ $ $15,750$

Pam Kuder, CEO, expected the total industry sales to be $1,300,000$ barrels during the period. After the year, Mark Goldfeder, the controller, reported that the total sales for the industry were $1,400,000$ barrels.

Required:

Calculate the following:

Selling price variances for the period for each product and for the firm.

Sales volume variances for the period for each product and for the firm.

Sales quantity variances for each product and the firm.

Sales mix variances for the period for each product and for the firm.

The sum of the sales quantity variance and sales mix variance. Also, verify that this total equals the sales volume variance.

Market size variance for the period.

Market share variance for the period.

The sum of the market size variance and market share variance. Also, verify that this total equals the sales quantity variance$\mathrm{.}1$

$5$

points

$02$:$22$:$28$

Selling price variances for the period for each product and for the firm.

Sales volume variances for the period for each product and for the firm.

Sales quantity variances for each product and the firm.

Sales mix variances for the period for each product and for the firm.

The sum of the sales quantity variance and sales mix variance. Also, verify that this total equals the sales volume variance.

Market size variance for the period.

Market share variance for the period.

The sum of the market size variance and market share variance. Also, verify that this total equals the sales quantity variance.

Note: Enter your answers in thousands of dollars.

$\backslash$table$[[1.$ Selling price variance $-$ Premium,,Favorable$],[1.$ Selling price variance $-$ Regular,,Unfavorable$],[1.$ Total selling price variance,,$],[2.$ Sales volume variance $-$ Premium,,$],[2.$ Sales volume variance $-$ Regular,,$],[2.$ Total sales volume variance,,$],[3.$ Sales quantity variances $-$ Premium,,$],[3.$ Sales quantity variances $-$ Regular,,$],[3.$ Total sales quantity variance,,$],[4.$ Sales mix variance $-$ Premium,,$],[4.$ Sales mix variance $-$ Regular,,$],[4.$ Total sales mix variance,,$],[5.$ Sales volume variance,,$],[6.$ Market size variance,,$],[7.$ Market share variance,,$],[8.$ Salec culantitv variance,,$]]$