flexible budget for the Berkshire Toy Company for the year ended June 30, 1998. Analyze the company's total master (static) budget variance for the year. Compare the flexible and master (static) budgets and prepare a schedule showing the sales vol- Umme Variance. Compare the ac- tual results and the flexible bud- get, and prepare a schedule showing the flexible budget vari- ance. Subdivide the flexible bud- get variances into the appropriate price (rate or spending) and effi- ciency (usage or quantity) vari- ances for materials, labor, and variable overhead. b. Compute the bonuses earned in fiscal 1998, if any, by David Hall of the purchasing department. Rita Smith of the marketing de- partment, and Bill Wilford of the production department