Peninsula Candy Company makes three types of candy bars: Chewy, Chunky, and Choco-Lite (Lite). Sales volume for the annu

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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 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.
Industry volume was estimated at 96.0 million bars for budgeting
purposes. Actual industry volume for July was 88.320 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.