please help me solve problem three!!!

Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 16,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales $ 4,000,000 $1,040,000 160,000 64,000 300,000 198,000 230,000 1,992,000 2,008,000 Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation Plant equipment (straight line) Utilition ($48,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations 80,000 112,000 250,000 442,000 132,000 241,000 90,000 463,000 $ 1,103,000 S 4,813,000 Phoenix Company's actual income statement for 2019 follows. PHOENIX COMPANY Statement of income from Operations For Year Ended December 31, 2019 Sales (19,000 units) Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation Plant equipment straight-line) Utilities (fixed cost is $148,000) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (annual) General and administrative expenses Advertising expenso Salaries Entertainment expense Income from operations $1,252.000 199,000 07.000 300.000 204,000 240.000 2.262.000 2,661,000 93,000 125,500 269.000 487 500 541,000 241.000 93.000 475,000 $ 1588,500 Required: 1. Prepare a flexible budget performance on for 2019 indicate the testach vatanse bylos informeable unfavorable and No variance Income from operations $ 1,588,500 Required: 1. Prepare a flexible budget performance report for 2019. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and No varlance.) PHOENIX COMPANY Flexible Budget Performance Report For Year Ended December 31, 2019 Flexible Budget Actual Results Variances Fav. Unfov. 4,750,000 $4,813,000 $ 63,000 Favorable Sales Variable costs Direct materials Direct labor Machinery repairs Utilities Packaging Shipping 1,235,000 190,000 76,000 57,000 95,000 133,000 1,252,000 199,000 67,000 56,000 93,000 125,500 17,000 Unfavorable 9,000 unfavorable 9,000 Favorable 1,000 Favorable 2,000 Favorable 7.500 Favorable 1,786,000 1,792.500 3,020,500 6,500 Unfavorable 56,500 Favorable 2,964,000 Total variable costs Contribution margin Fixed costs Depreciation Plant equipment (straight line) Utilities Plant management salaries Sales salary Advertising expense Saiaries Entertainment expense 300,000 150,000 230,000 250,000 132.0001 241.000 90,000 300,000 149,000 240,000 269,000 O No variance 2,000 Favorable 10,000 Unfavorable 19.000 Unfavorable 9,000 Unfavorable O No variance 3,000 unfavorable 141,000 241,000 93,000 Total fixed costs 1.393,000 1,432,000 39,000 unfavorable 1,571,000 5 1,588,500 $17.500 Favorable Income from operations $ MacBook Overview: The connect assignment provides a Fixed Budget and Actual Income Statement for Phoenix Company's year ending December 31, 2019. Connect asks you to flex the budget and prepare a Budget Performance Report. The Project asks students to determine the DM, DL and VOH standards using the information and then analyze the variances in more detail. The project has student update standards for the next year and create a master budgeted income statement. Use the information for Phoenix Company used in Question 6 of connect assignment HW 5 to complete the requirements of the project. 1) Phoenix Company budget amounts are prepared using standards. Follow the instructions provided in (a) through (e) to complete the Standard Card below. Show 4 decimals for all calculated "qty per unit" and "cost per input" amounts. Cost per Phoenix Company Standard Cost Card - Current Year (2019) Qty per Unit Input Direct materials 4.00 lbs 16.25 Direct labor .8264 hrs. X 12.10 Variable Overhead .8264 hrs. 6.687 Std. Cost per Unit (a) 65 10 5.526 3) With respect to direct labor, calculate the following relating to Phoenix Company's operating results for the year a) Assume Phoenix Company concluded it spent an average of 0.90 hours (Actual) to complete one finished good unit. How many hours of direct labor did Phoenix Company have for the year? Hint: Multiply the number of units produced by 0.90 hours. Round to the nearest whole number of hours. Use this amount as total actual hours, AH, in the calculation of DL variances below. b) Using the standard cost card (1 above) and the flexible budget, how many hours should Phoenix Company have used for production during the year? Round to the nearest whole number of hours. Use this amount as standard hours, SH, in the calculation of DL variances below. c) What was the company's actual labor rate? Hint: Calculate AR using direct labor expense divided by total direct labor hours, AH (calculated in a) Show 4 decimals. Use this as standard rate, AR, in the calculation of DL variances below. d) Complete the following table to calculate the direct labor rate and efficiency variances. Direct Labor Variances AH Actual Cost AR X AH SR SH Standard Cost X SR X X Favorable/Unfavorable Direct labor rate variance Direct labor efficiency variance Total direct labor variance e) Give one example of a situation that would result in an UNFAVORABLE labor rate variance. Explain using 20 to 30 words. f) Give one example of a situation that would result in a FAVORABLE labor efficiency variance. Explain using 20 to 30 words