-+ Citation Machine: APA fon Brytrwave: Horngren. Between Overa! V 00685 s/978013447 them from another browser. Import your favorites a. The price and efficiency variances are favorable. b. The price and efficiency variances are unfavorable. c. The price variance is favorable, while the efficiency variance is unfavorable. d. The price variance is unfavorable, while the efficiency variance is favorable. 2016 DeVry/Becker Educational Development Corp. All Rights Reserved. Exercises 7-21 Flexible budget. Sweeney Enterprises manufactures tires for the Formula I motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,600 tires at a variable cost of $71 per tire and total fixed costs of $55,000. The budgeted selling price was S114 per tire. Actual results in August 2017 were 3,500 tires manufactured and sold at a selling price of $116 per tire. The actual total variable costs were $280,000, and the actual total fixed costs were $51,000. 1. Prepare a performance report (akin to Exhibit 7-2, page 254) that uses a flexible budget and a static budget. 2. Comment on the results in requirement 1 n's Cost Accounting u D e@ ax