4. The firm planned to sell 40,000 units at a price of 14 TL per unit in the master budget. The firm actually sold 38,000 units. The firm planned to produce 42,000 units in the master budget but the firm actually produced 40,000 units. In master budget, each unit requires 0.6 direct labor hours and direct labor cost per hour is 7 TL. (14 Points)

	Actual Results	Flexible Budget	Master Budget
Sales Revenue	570,000
Total Direct Materials Cost	151,620	171,000	180,000
Total Direct Labor Cost	170,670
Total Variable Manufacturing Overhead	124,200	123,500	130,000

a. Calculate sales revenue, direct materials, direct labor, and variable manufacturing overhead activity variances and indicate whether the variances are favorable (F) or unfavorable (U). (First you have to complete missing values in the table)

b. Calculate revenue variance. Indicate whether the variance is favorable (F) or unfavorable (U).

c. Calculate direct materials, direct labor, and variable manufacturing overhead spending variances and indicate whether the variances are favorable (F) or unfavorable (U).