manufactures bust statues of famous historical figures. All statues are the same size. Each unit requires the same amount of resources. The following information is from the static budget for $2020$:

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Part $1$

Standard$$ quantities, standard$$ prices, and standard unit costs follow for direct materials and direct manufacturing$$ labor:

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Part $1$

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.$)$

Actual

Results

Output units

Revenues

Direct materials

Direct manufacturing labor

Fixed costs

Total costs

Operating income

Expected production and sales

$6,200$ units

Expected selling price per unit

$$650$

Total fixed costs

$$1,300,000$

Standard Quantity

Standard Price

Standard Unit Cost

Direct materials

$14$ pounds

$$12$ per pound

$$168$

Direct manufacturing labor

$3\mathrm{.}1$ hours

$$40$ per hour

$$124$

During $2020,$ actual number of units produced and sold was $4$ comma $800,$ at an average selling price of $ $700.$ Actual cost of direct materials used was $ $813,750(62,500$ pounds at $ $13\mathrm{.}02$ per$$ pound$).$ Actual direct manufacturing labor costs were $ $585,900(17,500$ actual direct manufacturing$$ labor$-$hours at $ $33\mathrm{.}48$ per$$ hour$).$ Actual fixed costs were $ $1,250$ comma $000.$ There were no beginning or ending inventories.