Complete the following flexible budget performance report Variances Flexible Variances Budget Income Actual Static Budgeted statement Results Budget amount per unit Number of 14,000 16,000 Units Sales 175,000 192,000 revenue Less: (115,000) (128,000) Variable Cost Contribution 60,000 64,000 margin Less: (38,000) (40,000) Fixed Cost Operating 22,000 24,000 Income Future White Inc. manufactures sunglasses. During march 2020, the company produced 10,000 glasses and recorded the following cost data: Standard cost information Quantity per unit Cost per part/hour Direct Materials Direct Labor 10 parts 4 hours S 1 per part S 12 per hour Actual information Total Quantity Total Cost Direct materials Direct Labor 90,000 parts 73,440 hours $ 81,000 $ 918,000 Requirements: 1- Find the direct material cost and efficiency variances. 2- Find the direct labor cost and efficiency variances.