Can I just get the walkthrough on how to solve this? Thanks!

White Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. White allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: (Click the icon to view the selected data) Read the requirements Requirements Requirement 1. Prepare a flexible budget based on the actual number of recliners sold (Round budget amounts per unit to the nearest cent) White Recliners Flexible Budget Budget Data table Amounts - X per Unit 1005 Static Budget Actual Results (1,025 recliners) (1,005 recliners) $ $ 527,875 $ 497 475 1. Prepare a flexible budget based on the actual number of recliners sold. 2. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances Round to the nearest dollar 3. Have White's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? Describe how White's managers can benefit from the standard costing system 4. Actual Units (Recliners) Sales Revenue Variable Manufacturing Costs: Direct Materials Direct Labor Variable Overhead Fixed Manufacturing Costs: : Fixed Overhead 54,735 54,810 95,325 Print Done Sales (1,025 recliners x $515 each) (1,005 recliners x $495 each) Variable Manufacturing Costs Direct Materials (6,150 yds @ $8.90 / yd.) @ (6,300 yds @ $8.70 / yd.) Direct Labor (10,250 DLHr @ $9.30 / DLHr) (9,850 DLHr@ $9.50 / DLHr) Variable Overhead (6,150 yds @ $5.10 / yd.) (6,300 yds @ $6.50 / yd.) Fixed Manufacturing Costs Fixed Overhead Total Cost of Goods Sold 93,575 31,365 Total Cost of Goods Sold 40,950 Gross Profit 62,730 64,730 244,155 254,065 S 243,410 283,720 $ Gross Profit Calculator Ask my instructor Clear all Check