2 Hours 12 Mansons annual master budget assuming it will sell 15,000 units at 515 per unit Materials are budgeted to w a bor costs are budgeted to total 500,000 Camay actually sells product at $14 per unit for a total of $224,000. Actual materials were purchased at 35 and actual labor costs were $5 per unit and in the missing Master Budget, Flexible Budget and Actual Results for Sales, Material Costs and Labor Couts A cautate and in the missing Volume, Flexible/Price and Overall variances for Sales, Material Costs, and Labor Costs. Be sure to indicate both the amount and direction (Favorable. Unfavorable) for all variances. Master Budget Flexible Budget Actual Results Sales 1 A 224.000 al Costs 96,000 D Labor Costs 60,000 Volume Overall Sales Flexible/Price 16,000 U Material Costs 6,000 U K J Labor Costs 20,000 U 20 pts Company F prepared its annual master budget assuming it will sell 15,000 units at $15 per unit. Materials are budgeted to cost $6 per unit while labor costs are budgeted to total $60,000. Assume Company Q actually sells its product at $14 per unit for a total of $224,000. Actual materials were purchased at $5 per unit and actual labor costs were $5 per unit. Calculate and fill in the missing Master Budget, Flexible Budget and Actual Results for Sales, Material Costs and Labor Costa Also calculate and fill in the missing Volume, Flexible/Price and Overall variances for Sales, Material Costs, and Labor Costs Be sure to indicate Loth the amount and direction (Favorable. Unfavorable) for all variances Master Budget Flexible Budget Sales Actual Results 224,000 Material Costs Labor Costs 60,000 TET E Variances Volume Overall Flexible/Price 16,000 U Sales Material Costs 6,000 u K 20,000 U Labor Costs