Milan Statuary 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 2021: (Click the icon to view the static budget data.) Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manufacturing labour: (Click the icon to view the direct materials and direct manufacturing labour data.) Requirement 1. Calculate the sales-volume variance and flexible-budget variance for operating income. Begin with the actual results, and then complete the flexible budget columns and the static budget columns. Label each variance as favourable (F) or unfavourable (U). (For variances with a So balance. make sure to enter " 0 " in the appropriate field. If the variance is zero, do not select a label.) materials. Label each variance as favourable (F) or unfavourable (U). Milan Statuary 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 2021: (Click the icon to view the static budget data.) Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manufacturing labour: (Click the icon to view the direct materials and direct manufacturing labour data.) Requirement 1. Calculate the sales-volume variance and flexible-budget variance for operating income. Begin with the actual results, and then complete the flexible budget columns and the static budget columns. Label each variance as favourable (F) or unfavourable (U). (For variances with a So balance. make sure to enter " 0 " in the appropriate field. If the variance is zero, do not select a label.) materials. Label each variance as favourable (F) or unfavourable (U)