manufactures bust statues of famous historical figures. All statues are the same size. Each unit requires the 7-30 Flexible budget direct materials, and direct manufacturing labor variances. Tuscany Stany - Detailed work is required. Equations should be provided (if you are providing a figure that you calculated using a formula, you should provide the formula, for example: if you provide the amount of direct material in flexible budget as $660,000, it is not acceptable to write 120*5500, you should write the general formula: standard unit cost * actual number of units) Deadline is 1st July 2020. 3. Comment on possible reasons for the variances you computed in requirement 2 Red Problems winglab same amount of resources. The following information is from the static budget for 2011: Expected production and sales 6,000 units Direct materials 72,000 pounds Direct manufacturing tebe 21,000 hours Total fixed costs $1,200,000 Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manu- facturing labor: Direct materials Direct manufacturing labor Standard Quantity 12 pounds 3.5 hours Standard Price $10 per pound $50 per hour Standard Unit Cost $120 $175 During 2011, actual number of units produced and sold was 5,500. Actual cost of direct materials used was $668,800, based on 70,400 pounds purchased at $9.50 per pound. Direct manufacturing labor-hours actually used were 18,500, at the rate of $51.50 per hour. As a result, actual direct manufacturing labor costs were $952,750. Actual fixed costs were $1,180,000. There were no beginning or ending inventories. 1. Calculate the sales-volume variance and flexible-budget variance for operating income. 2. Compute price and efficiency variances for direct materials and direct manufacturing labor. ...in cattina Stavie McQueen has run Lightning Car Detailing ed