Bacoli Statuary manufactures bust statues of famous historical figures. All statues are the same size. Each unit requires the same amount of resources. The following information is from the static budget for 2017: (Click the icon to view the static budget data.) Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manufacturing labor: (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate the sales-volume variance and flexible-budget variance for operating income. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "O" in the appropriate field. If the variance is zero, do not select a label.) Actual Results Data Table Data Table Output units Revenues 6.400 units Expected production and sales Expected selling price per unit Total fixed costs $ 765 Standard Quantity Direct materials $ 1,450,000 Direct materials Direct manufacturing labor 18 pounds 3.9 hours Standard Price $13 per pound $30 per hour Standard Unit Cost 200 $117 Direct manufacturing labor Fixed costs Tolal costs Print Done During 2017. actual number of units produced and sold was 5,700, at an average selling price of $790. 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 $1,250,000. There were no beginning or ending inventorius. Operating income Print Done