PART VII(10 POINTS) The following budgeted and actual volume and cost data are for July of this year: Budget Actual Volume 20,000 18,000 Budgeted manufacturing costs: Variable costs per unit: Direct materials $17.00 Direct labor 7.00 Overhead 2.00 Total fixed overhead costs $220,000 Actual manufacturing costs: Direct materials $310,000 Direct labor 135,000 Variable overhead 36,000 Fixed overhead 210,000 Required: Compute and label (F or U) flexible budget variances for (1) direct materials and (2) direct labor