complete the flexible budget columns and the static budget columns. Label each variance as favorable (F) or unfavorable (U). (For vanances with a $0 balance, make sure to enter "U" in the appropnate field. If the variance is zero, R - - Requirements Data Table Standard Quantity 1. Calculate the sales-volume variance and flexible-budget variance for operating income. 2. Compute price and efficiency variances for direct materials and direct manufacturing labor. 16 pounds Direct materials Direct manufacturing labor Standard Price $13 per pound $30 per hour Standard Unit Cost $208 $117 3.9 hours X During 2020, actual number of units produced and sold was 5,700, at an average selling price of $800. Actual cost of direct materials used was $1,193,100 (61,500 pounds at $19.40 per pound). Actual direct manufacturing labor costs were $658,800 (18,000 actual direct manufacturing labor-hours at $36.60 per hour). Actual fixed costs were $1,180,000. There were no beginning or ending inventories. Data Table .. ndo 6,200 units variances for direct mater Expected production and sales Expected selling price per unit Total fixed costs $ 770 Print Done $1,450,000 $ variances for direct many Print Done H Requirement 1. Calculate the sales volume variance and flexible-budget varianon far operating income Begin with the actual results, then complete the lexible budget caluring and the stalic budget colunris. Label each variance as favorable (F) or unfavorable (U). (For variances with a 50 balance, make sure to eriler "O' in the appropriale field. If the variarice is zero, do not select a label.) Actual Flexible-Budget Flexible Sales-Volume Static Results Variance Budget Variance Budget Oulpul units Revenues Direct materials II JI II 1 Direct manufacturing labor Fixed coets Tolal costs Operating income Requirement 2. Computer price and efficiency variances for direct naterials and direct manufacluring labor. Compute the price and efficiency variances for direct materials. Label sech vartence as favorable IFI or unfavorable (Ul. Price variance Efficiency variance Compute the price and efficiency variances for direct manufacturing labor. Label each variance sa favoreble (F) or untavorable (U). Price variance Efficiency variance