A fixed budget for 70,000 units of production shows $126,000 of sales, $91,000 of variable costs, and $36,100 of fixed costs. Compute the flexible budget income if the company actually produces and sells 80,000 units. Using the following product information, calculate the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ=ActualQuantitySQ=StandardQuantityAP=ActualPriceSP=StandardPrice Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance