Budgeted Information Units Sold Selling Price Pounds of Direct Materials Per Unit Cost Per Pound of Direct Material Direct Labor Hours Per Unit Cost Per Direct Labor Hour Fixed Costs Actual Results 5,000 $100.00 5.00 $1.00 2.00 $25.00 $100,000 1. 4,900 units were produced and sold at an average price of $102.00 2. 28,500 pounds of direct materials were used at an average cost of $1.30 per pound 3. 9,750 direct labor hours were used at an average cost of $24.00 per hour 4. Fixed costs were $120,000 for the period Required 1. Prepare a five column flexible budget chart showing sales volume and flexible budget variances for each account. Units Sales Direct Materials Direct Labor Fixed Costs Operating Income Actual Flexible Budget Variance Flexible Budget Sales Volume Variance Static Budget