Planning and flexible budget variances Tang Company??s production performance report for April includes the information shown below. Prepare a flexible budget for the items shown and compute the flexible budget cost variances and planning cost variances for each item. Indicate whether the variances are favorable or unfavorable for eachitem.

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ACTUAL MASTER BUIXGET 90,000 Volume 80,000 Manufacturing costs: Direct materials Direct labor Fixed manufacturing support Total $550,000 $630,000 247,500 400,000 $1,175,000 420,000 Total $1,297,500