Homework Company Information Item to Classify Driver Amount Standard Actual Variance Favorable Unfavorable Labor Cost hours per hour $ 10.00 $ 9.60 ? ? Labor Usage hours total 61,000 61,800 ? ? Fixed Cost spending dollars total $ 400,000 $ 390,000 ? Fixed Cost dollars per unit $ 3.20 $ 3.16 ? Sales volume units total 40,000 42,000 ? Sales price dollars per unit $ 3.60 $ 3.63 ? Material cost dollars per pound $ 2.90 $ 3.00 ? Material usage pounds total 91,000 90,000 ? 222222 ? ? ? ? ? ? Actions to take: 1 Prepare the Standard Budget 2 Calculate the actual results. 3 Compute the variances 4 Identify if the variances are favorables or unfavorable 45 5 Explain possible (logical) reasons for the variances (difference).