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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 ol 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. Industry volume was estimated at 91.1 million bars for budgeting purposes. Actual industry volume for July was 81.990 million bars. Required: a. Determine the sales price and sales activity variances. b. Break down the sales activity variance into the parts caused by industry volume and market share. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Determine the sales price and sales activity variances. (Do not round intermediate calculations. Enter your answers in thousands. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.).

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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 ol 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. Industry volume was estimated at 91.1 million bars for budgeting purposes. Actual industry volume for July was 81.990 million bars. Required: a. Determine the sales price and sales activity variances. b. Break down the sales activity variance into the parts caused by industry volume and market share. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Determine the sales price and sales activity variances. (Do not round intermediate calculations. Enter your answers in thousands. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.).

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