Emerald Statuary manufactures bust statues of famous historical figures. All statues Standard quantities, standard prices, and standard unit costs follow for direct are the same size. Each unit requires the same amount of resources. The following materials and direct manufacturing labor: information is from the static budget for 2020 : Data table Data table During 2020 , actual number of units produced and sold was 4,800 , at an average selling price of $720. Actual cost of direct materials used was $392,700 (66,000 pounds at $5.95 per pound). Actual direct manufacturing labor costs were $878,400(18,300 actual direct manufacturing labor-hours at $48.00 per hour). Actual fixed costs were $1,170,000. There were no beginning or ending inventories. Requirement 1. Calculate the sales-volume variance and flexible-budget variance for operating income. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label.) Requirement 2. Compute price and efficiency variances for direct materials and direct manufacturing labor. Compute the price and efficiency variances for direct materials. Label each variance as favorable (F) or unfavorable (U)