According to its original plan, Jordan Consulting Services Company plans to charge its customers for service at $125 per hour. The company president expects consulting services provided to customers to reach 49.000 hours at that rate. The marketing manager, however, argues that actual results may range from 43,000 hours to 55,000 hours because of market uncertainty. Jordan's standard variable cost is $40 per hour, and its standard fixed cost is $1,320,000 Required Develop flexible budgets based on the assumptions of service levels at 43,000 hours, 49,000 hours, and 55,000 hours Flexible Budget Flexible Budget Flexible Budget 43,000 Hours 49,000 Hours 55,000 Hours 0 D $ OS 0 $ 0 Required Indicate whether each of the following variances is favorable (F) or unfavorable (U). The first one has been done as an example. (Select "None" if there is no effect (i.e., zero variance).) Type of Variance Item to Classity Sales volume Sales price Materials cost Materials usage Labor CO Labor usage Fixed cost spending Fored cost per unit (volume) Standard 43,000 units $ 3.73 per unit $ 4.00 per pound 91.000 pounds $ 10.60 per hour 62,800 hours 5 511 700 $ 11 90 per unit Actual 44.900 units $ 3.70 per unit $ 3.90 per pound 92.000 pounds $ 11.00 per hour 62,000 hours $ 475.940 $ 10.60 per unit