value 1.10 points You did not receive full credit for this question in a previous attempt Problem 17-43 Sales Mix and Quantity Variances (LO 17-3) 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 Budget Chewy Chunky Choco-Lite Total Sales-units (in thousands) 3,000 bars 3,000 bars 6,000 bars 12,000 bars Sales-dollars (in thousands) $270 $600 $960 $1,830 Variable costs 195 495 780 1.470 Contribution margin $ 75 $105 $180 $ 360 Manufacturing faxed cost 37 38 59 134 Product margin $ 38 $ 67 $121 $ 226 Marketing and administrative costs (all fixed) 57 Operating profit $ 169 Actual Sales-units (in thousands) 2,400 bars 3,000 bars 6,100 bars 11,500 bars Sales-dollars (in thousands) $144 $600 $960 $1,704 Variable costs 72 525 759 1,356 Contribution margin $ 72 $ 75 $201 $ 348 Manufacturing fixed cost 40 36 56 132 Product margin $ 32 $ 39 $145 $ 216 Marketing and administrative costs (all fixed) 36 Operating profit $ 180 Industry volume was estimated at 91.1 million bars for budgeting purposes. Actual industry volume for July was 98.7 million bars. Required: Break down the total activity variance into sales mix and quantity parts. (Do not round Intermediate calculations. Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select elther option.) Sales mix variance $ 40,500 F Quantity variance $ 67,500 U