7-34 (similar to) Milan Statuary manufactures bust statues of famous historical figures. All states are the same sire. Each unit requires the same amount of resources. The following information is from the state budget for 2017 Click the icon to view the static budget data.) Question Help Standard quantities, standard prices, and standard unit cost follow for direct materials and direct manufacturing labor (Cick the loon to view the data) Read the requirements Requirement 1. Calculate the sales volume variance and exible-budget variance for operating income For varences with a sobo m sure to Begin with the actual results, then complete the flexible budget columns and the static budget columns Label each variance as favorable (For unfavorable in the appropriate field. If the variance is zero, do not select a label) Actual Results Output units Rovers Direct materials Direct manufacturing labor Fixed costs Totalco Entor a number in the edit fields and then click Check Answer Check Answer 4 con Read the requirements. and flexible-budget variance for operating income. le budget columns a select a label.) Data Table X unfavorable (U). (For variances with a Expected production and sales Expected selling price per unit Total fixed costs $ $ 6,800 units 735 1,350,000 Print Done Data Table var Standard Quantity Standard Price Standard Unit Cost 16 pounds Direct materials Direct manufacturing labor $13 per pound $30 per hour $208 $117 3.9 hours During 2017, actual number of units produced and sold was 5,700, at an average selling price of $780. Actual cost of direct materials used was $1,193,100, based on 61,500 pounds purchased at $19.40 per pound. Direct manufacturing labor-hours actually used were 18,000, at the rate of $36.60 per hour. As a result, actual direct manufacturing labor costs were $658,800. Actual fixed costs were $1,240,000. There were no beginning or ending inventories. Print Done in click Chock Anom flexible-budget variance for operating income. X (U). Requirements ct a 1. Calculate the sales-volume variance and flexible-budget variance for operating income 2. Compute price and efficiency variances for direct materials and direct manufacturing labor. Print Done