Actual direct manufacturing labor wage rate 4. Standard quantity of direct materials allowed (in pounds) 5. Actual quantity of direct materials used (in pounds) 6. Actual quantity of direct materials purchased in pounds) 7. Actual direct materials price per pound Req in nvene 7-37 Comprehensive variance analysis review. Blaumvogel is a single-product company that produces and sells product P. For the year 2014, the following budgeted absorption costing manufacturing costs per product are: Oprating Material Variable costs Fixed costs 2 kg at $3s6 Fle s 2 S 6 $14 The variable selling costs are $2 per unit, and the fixed selling costs are $400,000 per year The normal production and sales are 100,000 units per year. The budgeted production for 2014 is 90,000 units, the budgeted sales for 2014 are 80,000 units. During 2014, the selling price will be $25 per unit On Dec.31, 2014, the following actual data are given: Production: 84,000 units Sales: 82,000 units Selling price: $24 per unit Purchase price of material: $3.50 per k Use of material: 160,000 kg - Variable costs of production department: $2 per unit Fixed costs of production department: $580.000 Variable costs of selling department: $2.50 per unit Fixed selling costs:$400,000 1. Calculate the static budget variance for operating income. Required le budget variance for operating income and the sales volume variance for operating income. 3. Divide your answer to 2 into individual variances 4. Divide your answer to 3 into subvariances, if applicable