Bacoli Statuary manufactures bust statues of famous historical figures. All statues Standard quantities, standard prices, and standard unit costs follow for direct are the same size. Each unit requires the same amount of resources. The materials and direct manufacturing labor: following information is from the static budget for 2017: (Click the icon to view the data.) (Click the icon to view the static budget 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 Flexible-Budget Flexible Results Variance Budget 5,800 Output units 7100 Revenues 5005500 $ 4,350,000 Direct materials $ 332,800 Direct manufacturing labor 948,850 1,180,000 Fixed costs $ 2,461,650 Total costs $ 1,888,350 Operating income Choose from any liat or enter any number in the innut fields and then clickCheck Answer 9. Tices, and Bacoli Statuary manufactures bust statues of far are the same size. Each unit requires the same following information is from the static budget fo B (Click the icon to view the static budget data - Data Table Xing labor ata.) Requirement 1. Calculate the sales-volume var 7,100 units Begin with the actual results, then complete the variances with a $0 balance, make sure to enter Expected production and sales Expected selling price per unit $ 705 ariance a Jel.) Total fixed costs $ 1,300,000 Actual Results Print Done Data Table Standard Quantity Standard Price Standard Unit Cost Direct materials 8 pounds $56 $7 per pound $50 per hour Direct manufacturing labor 3.3 hours $165 During 2017, actual number of units produced and sold was 5,800, at an average selling price of $750. Actual cost of direct materials used was $332,800, based on 64,000 pounds purchased at $5.20 per pound. Direct manufacturing labor-hours actually used were 17,500, at the rate of $54.22 per hour. As a result, actual direct manufacturing labor costs were $948,850. Actual fixed costs were $1,180,000. There were no beginning or ending inventories. Print Done