Exercise 65 Sheffield manufactures aluminum cances in planning for the coming year, CFO Alexis King is considering three diferent sales targets: 2,500 canoes, 3,000 canoes, and 3,500 canoes Crossed for each The standard variable cost information for a canoe is as follows Direct materials $316 Direct labor 163 Variable overhead Utilities 35 Indirect mater 30 Indirect labor Total 5604 Annual fixed overhead costs expected to be Maintenance $15,000 Depreciation Insurance 26,860 Rent 29,640 Total $114,690 Alexis King chose to prepare a static budget based on sales of 3,000 cances. Actual sales were 3.100 canoes at a price of $850 each. The company incurred the following costs for the year: Durect material $ 69,400 Direct labor 476,600 Variable overhead 398,100 Foxed overhead 121,990 Total $1,966,090 Prepare a performance report for the year that shows the flexible budget and sales volume variances (If operating income is negative, enter amounts using a negative sin preceding the number 45 or parenthesese.. (4). Round answers to decimal places, c. 125. If variance is cer, select "Not Applicable and enter for the amounts.) Flexible Budget Variance Flexible Budget Sales Volume Variance Static Budget Prepare a performance report for the year that shows the flexible budget and sales volume variances (1 operating income is native eile amount on peither.. 45 or parentheseseo (45). Round answers to decimal places.. 125. I wariance is mere, select "Not Applicable and enter for the Actual Results Flexible Budget Variance Flexible Budget Sales Volume Variance Static Budget Unit sales BO Unfavorare 3100 3000 Variable expenses Less Variable expenses RSS $