4. Taylor, Inc., has the following information for the two most recent years of operations. Sales Units Price Materials cost per pound Pounds of material required per unit Labor hours required per unit Wage rate per hour Contribution margin Fixed costs 33,223 Budgeted 33,XXX $30.00 $15.00 0.75 1.80 $9.00 $2.55 Actual 40,000 $33.00 $18.00 1.00 2.00 $10.00 ($5.00) $120,000$125,000 Determine the following: 1. Selling price variance in sales dollars. 2. Flexible budget variance 3. Sales volume variance in contribution. 4. Materials usage variance. 5. Materials price variance. 6. Labor usage variance. 7. Labor rate variance