Data table Data table Requirements 1. Calculate the sales-volume variance and Sexible-budget variance for operating income. 2. Compute price and effieiency variances for direct materiats and direct manufacturing labor. During 2020, actual rumber of unts produced and sold was 5,700, at an average selling price of $700. Actual cost of direct materials used was $1,193,100 (61,500 pounds at $19.40 per pound). Actual direct manufacturing labor costs were $58,800 ( 18,000 actual direct manufacturing labor-hours as $30.60 per hour) Actual fixed conts wore $1,250,000. There were no beginning or ending inventories. Palormo Statuary manufactures bust statues of tamous histoncal figures. Als statues are the same siza. Eoch unit requices the same amount of resources. The following informetion is from the stabic budget for 2020 - (Cick the icon to view the stabe budget data) Standard quansbes, standard prices, and standard unit costs follow for direct matenas and drect manufacturing labor: (Click the icon to vinw the data) Read the tequirements. Requirement 1. Calculate the salos volume variance and flexible-budget varlance for operating income. Begin with the actual results, then complete the fexible budget columns and the static budgot columns. Label each variance as favorable (F) or unfavocable (U), (For variances with a so baiance moke sure to enter " 0 " in the appropriate feld if the variance is zero, do not select a laboli) Requirement 2. Compute price and efficiency variances for direct materials and ditoct manulacturing labor. Compute the price and efficioncy variances for dinct materials. Label each variance as tavorable (F) or unfavorable (U). Data table Data table Requirements 1. Calculate the sales-volume variance and Sexible-budget variance for operating income. 2. Compute price and effieiency variances for direct materiats and direct manufacturing labor. During 2020, actual rumber of unts produced and sold was 5,700, at an average selling price of $700. Actual cost of direct materials used was $1,193,100 (61,500 pounds at $19.40 per pound). Actual direct manufacturing labor costs were $58,800 ( 18,000 actual direct manufacturing labor-hours as $30.60 per hour) Actual fixed conts wore $1,250,000. There were no beginning or ending inventories. Palormo Statuary manufactures bust statues of tamous histoncal figures. Als statues are the same siza. Eoch unit requices the same amount of resources. The following informetion is from the stabic budget for 2020 - (Cick the icon to view the stabe budget data) Standard quansbes, standard prices, and standard unit costs follow for direct matenas and drect manufacturing labor: (Click the icon to vinw the data) Read the tequirements. Requirement 1. Calculate the salos volume variance and flexible-budget varlance for operating income. Begin with the actual results, then complete the fexible budget columns and the static budgot columns. Label each variance as favorable (F) or unfavocable (U), (For variances with a so baiance moke sure to enter " 0 " in the appropriate feld if the variance is zero, do not select a laboli) Requirement 2. Compute price and efficiency variances for direct materials and ditoct manulacturing labor. Compute the price and efficioncy variances for dinct materials. Label each variance as tavorable (F) or unfavorable (U)
